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S. Korean painting from 1950s auctioned for $2 million

November 30, 2015
An oil painting of Kim Whan-ki (Yonhap)

An oil painting of Kim Whan-ki (Yonhap)

HONG KONG (Yonhap) — An oil painting of Kim Whan-ki, a pioneering abstract artist of Korea, was auctioned at 2.35 billion won (US$2 million) in Hong Kong, a related firm said Sunday.

The artwork, titled “On the Way Back,” was the best hit at the Hong Kong sale organized by K Auction, a major South Korean auction house, a day earlier, according to the company.

The painting on canvas created in the 1950s shows a woman carrying a jar on her head. Its estimated price was 1.8-4 billion won.

Kim (1913-1974) is dubbed as the “Picasso of Korea.” His artwork “Untitled 6-X II-69″ was also sold for 120 million won, K Auction said.

It added that 51 of 62 artworks on sale were auctioned in the event held at a Hong Kong hotel.