September 11, 2024 6:04 AM EDT | Source: PRNews OU
Seoul, South Korea–(Newsfile Corp. – September 11, 2024) – The Family Offices Investors Summit, Seoul Edition, in partnership with art curator Afrodet Zuri and the Digital Assets Center at Deloitte Korea, convened leading family funds and investors from Seoul, Dubai, Hong Kong, Singapore, and New York. This exclusive event, part of a global series, focused on “The DNA of Success in Art, New Business Models, Community Capital, and Alternative Investments,” laying the groundwork for discussions at the upcoming World Economic Forum 2025. Attendees, managing over $100 million in AUM, are shaping investment strategies across emerging technologies, gaming, community capital, and art. Recent launches, including Frieze Seoul, Kiaf Seoul, Korean Blockchain Week, and AI initiatives, have driven greater interest in deep tech, green tech, and art, with new galleries opening and overseas acquisitions fueling optimism. The influx of global talent and influencers has increased competition while fostering local growth among investors, founders, and artists. Despite a slight economic slowdown, government initiatives are expected to revive momentum, particularly in alternative investments and deep tech startups.
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Manana Samuseva, representing FOIS, discussed future trends: “I strongly believe in the potential of the Korean investment market as our priority #1. With emerging asset classes accumulating over $30 trillion in AUM, I emphasized the importance of ‘kid investors’ – Gen Z investors – directing capital toward societal advancement. Notably, Korea ranks among the top three countries with active Gen Z and Millennial investors in alternative assets, AI and Responsible Data, energy, longevity, creative and consumer startups, and gaming. The country’s dominance in digital culture, from influencers to K-pop, is unmatched. With approximately 6.45 million digital users, or 12.5% of the population, Korea’s engagement with digital assets is among the highest globally, reflecting strong enthusiasm for alternative investments. While short-term, profit-driven investments in art and technology, popular in 2022, have waned – along with high-priced auction transactions and AI hype – the art and tech markets remain sensitive to external factors. Fall 2024/Winter 2025 will be a crucial indicator of market shifts. We’ve observed a slowdown in the pop-up presence of international startups without a permanent base in Korea, signaling the market’s transition from rapid growth to maturity. Despite economic challenges, the increased accessibility and cultural impact of contemporary art and deep tech startups continue to drive positive developments. Our strategy focuses on achieving 10x+ IRR returns for new billion-dollar companies and impact investments, particularly in AI and responsible green technology. The global AI-driven market is projected to reach $140 trillion, and our goal is to leverage AI to develop digital solutions, starting with Babylon Voice AI Voice Perfume from KIKI, a future beauty unicorn.”
Afrodet Zuri, with over a decade of expertise as an art curator, strategic art adviser with a master’s degree in Contemporary Art from the Institute for Art at Sotheby’s and has made a mark on the global contemporary art scene through a unique approach to art collection and curation, focused on art investment in emerging markets and innovations: “At the Family Offices Investors Summit in Korea during Frieze Seoul, we explored the transformative power of art as an alternative investment, emphasizing its pivotal role in shaping future investment landscapes. By embracing the innovative potential and cultural significance of art, investors can tap into new dimensions of value and influence that resonate across global markets.”
Kyoung Ho Kim, Head of the Digital Assets Center at Deloitte Korea, emphasized: “Globally, sustainable investing is gaining traction among family offices, with 46% currently engaged and allocations expected to rise from 17% to 29% within five years. Europe leads with 57% participation, while North America is catching to 26%. Art investment also plays a role, comprising 7% of the average family office portfolio, reflecting its importance in diversification. Meanwhile, 43% of family offices are rolling out technology strategies to modernize operations. These trends are mirrored in Korea, where interest in sustainable investments, art investment, and emerging technologies like blockchain and AI is growing. This alignment with global trends is expected to drive significant growth in Korea’s industries, family offices diversify and innovate their portfolios. The rise of sustainable investing, art investment, and the adoption of advanced technologies highlights the strategic shifts family offices are making to stay competitive in a rapidly evolving global market. As Korea continues to advance in these areas, it is poised to become an increasingly attractive destination for family office investments.”
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Family Offices & Investors Summit: An elite conference for Family Offices and Investors managing assets over $100M, featuring sessions in major cities leading up to the World Economic Forum. https://www.familyofficesinvestorssummit.com
Deloitte Korea consists of Deloitte Anjin, an accounting firm responsible for accounting and tax advisory services, and Deloitte Consulting, responsible for consulting services in financial advisory. https://www2.deloitte.com/kr/ko.html
Afrodet Zuri is a global art curator, art adviser and strategic adviser with a master’s degree in Contemporary Art from the Institute for Art at Sotheby’s. https://afrodet.com/
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