Guest Country of Honor:
Republic of Korea
Even though Hollywood films still dominate the world´s box offices, Korean films are just as popular as their Hollywood counterparts in domestic theaters. In 2014 alone, Korean movies drew a combined total of 107.7 million viewers at box offices nationwide accounting for 50.1% of the total number of movie viewers. Korean movies have accounted for more than 50% of the total film market share for the past four years and have attracted more than 100 million moviegoers annually for the past three years, In particular, the movie “The Admiral: Roaring Currents” (2014), which depicts the “Myeongnyang Naval Battle led by Admiral yi Sun-sin”, attracted 17.61 million viewers during its stay at the box office, setting an all-time record-high in the commercial film industry. Domestically produced movies from other genres have also experienced great success in recent years.
One such example is the documentary “My Love, Don´t Cross That River” (2014), the story of an elderly couple who spent 76 years together; the movie attracted 4.8 million viewers and achieved unprecedented Korean box-office success among low-budget indie films and art movies.
Along with its increased success domestically, the Korean film industry has also been increasing its export of films to foreign countries. At the heart of the export industry is the continued momentum of Hallyu (the Korean Wave) propelled forth by the popularity of the industry´s top Korean actors and actresses. The Korean film industry has also been expanding its market share by using its production knowledge to engage in join film ventures with other Asian countries, such as China and Vietnam.
Korean films and the Korean film industry as a whole have undergone many years of success they enjoy today. The high caliber Korean films seen today are largely the result of the passion of Korean moviemakers and their ability to match the production skills of other advanced nations as well as Korean moviegoers’ undying support of Korean films to match the passion and ability of Korean moviemakers.
Source: K-Movie, The World’s Spotlight on Korean Film published by KOCIS.