The Ministry of Culture, Sports and Tourism announced that it will prepare the draft for the 'Notification on Art Evaluation Reports' and the draft for the 'Notification on Art Authenticity Certificates' and will conduct an administrative notice from July 1 to July 25.
The draft for the 'Notification on Art Evaluation Reports' focuses on the format and essential details of art evaluation reports. The ministry plans to categorize the evaluation report formats into 'Authenticity Evaluation Reports' and 'Market Value Evaluation Reports' and to require detailed entries for the basic information of the artwork and the basis of the evaluation, standardizing art evaluation information.
Additionally, through the draft for the 'Notification on Art Authenticity Certificates', art buyers can now demand the issuance of authenticity certificates or alternative documents from artists or art service providers. This draft specifies the format and essential details of authenticity certificates and cases where authenticity certificates cannot be issued, clarifying the rights of art buyers.
The notification will come into effect on July 26 of next year, aligned with the implementation of the art service industry reporting system under the 'Act on Promotion of Art'. The ministry plans to gather additional opinions through the administrative notice before finalizing and announcing the notification.