'Masterpiece' Forgery Dispute in Seoul... Police Receive Multiple Complaints

Complainant Claims "Masterpiece Stolen"
Instead, Faces Fraud Charges and Investigation

[Asia Economy Reporter Choi Seoyoon] Art world figures are filing lawsuits against each other over the authenticity of masterpieces by domestic and international art masters.

According to the police and the art community on the 11th, Mr. A (59), CEO of a non-fungible token (NFT) art company, filed a fraud complaint last September against Gallery CEO Mr. B (50), alleging that Mr. B took various famous paintings between January and March this year to sell but did not pay the promised profits.

Mr. A claims that Mr. B took several representative works by Kim Whanki and Lee Jungseop. The total appraised value of the artworks amounts to 20 billion KRW. Mr. A also said that he handed over works by Park Soo-keun, Na Hyesok, Cheon Kyungja, as well as calligraphy pieces by former President Park Chung-hee and Mrs. Yuk Young-soo before appraisal.

Mr. A also filed a complaint against Mr. C (52), CEO of an art brokerage firm, in the same month, alleging that Mr. C took five paintings by Chinese modern art master Qi Baishi and one moon jar to sell but similarly did not pay the profits. After receiving the complaint, the Seoul Gwangjin Police Station summoned Mr. A to hear the details and then transferred Mr. B’s case to the Eunpyeong Police Station and Mr. C’s case to the Gangnam Police Station.

However, in May, Mr. A was instead sued by Mr. B for fraud and forgery of private documents and is currently under investigation by the Suseo Police Station. Mr. B said he paid Mr. A 280 million KRW as a deposit and other fees to bring paintings by Kim Whanki, Lee Jungseop, and others, but after appraisal by the Korea Gallery Association, all were found to be forgeries, submitting the appraisal report to the police. Mr. A insists he cannot return the deposit until he gets the artworks back, while Mr. B counters that the artworks themselves are evidence of Mr. A’s fraudulent acts and intends to keep them until the investigation concludes.

Mr. C also claims that he is the victim, not Mr. A. Mr. C said he paid a 50 million KRW deposit in June to bring Qi Baishi’s paintings and the moon jar but received a forgery verdict, and he also claims that the appraisal report provided by Mr. A was fake. He added that an acquaintance resold to him a painting by Japanese artist Kusama Yayoi purchased from Mr. A, which also turned out to be a forgery.

The police plan to decide whom to indict for fraud and other charges between Mr. A and Mr. B once the authenticity is determined.

This content was produced with the assistance of AI translation services.