A rebound in Korean film exports has been recorded since 2005
A number of films that had previously been delayed by the pandemic began showing on physical markets. In addition, several titles that had been featured in international film festivals started playing in the physical world.
At the inaugural Cannes film festival, Park Chan-wook’s Decision To Leave premiered and secured pre-sales in 192 and 171 countries, respectively. Hirokazu Kore-eda’s Broker received pre-sales from 151 countries.
Kim Hong-sun’s sci-fi action thriller Project Wolf Hunting, which premiered in Toronto, and Lee Jung-jae’s espionage thriller Hunt also saw “notable results” – although no additional information was provided.
According to exports by region, Asia continued to purchase the most completed films at $34.4m (48.2%). A total of $9.5m in sales came from Europe, while $5.8m came from North America and $1.2m from Latin America.
In order to increase international sales, films such as The Match, starring Lee Byung-hun and Yoo Ah-in, chose to direct their releases straight to OTT.
The total deals for completed films reached $69.9m, and local distribution gains of $1.5m, including overages, amounted to $1.5m. Our total deals for completed films were 85.3% all-rights deals.
Korean film investors are part of the report, and it includes figures from Korean film distributors and sales companies specializing in Korean films. The report is not a complete picture of Korean film exports abroad, but it does show a growth in exports.
To know more such news keep reading the Lemony blog.
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