Second-run films emerge as box office lifeline amid Korean film industry slump

Actor Bae Doona in a scene from 2005 Japanese film “Linda Linda Linda,” which is set to rerelease in Korea on Sept. 17 to commemorate the 20th anniversary of the movie’s release. Courtesy of Playgram

Second-run films are emerging as a sweet alternative amid a prolonged slump in the Korean film industry. As more rereleases achieve surprise box office success, they are establishing themselves not just as nostalgic throwbacks but as a viable survival strategy.

This year, more than 10 films are being rereleased every month, including renowned titles such as the sci-fi hit “E.T.” (1982), Japanese animation “Perfect Blue” (1997), classic “Doctor Zhivago” (1965) and blockbuster “The Godfather” (1972) this month alone.

A notable trend is the use of marketing events featuring actors visiting Korea, going beyond simple re-screenings.

For example, Japanese director Nobuhiro Yamashita's 2005 film “Linda Linda Linda” will celebrate its 20th anniversary with a rerelease on Sept. 17. To commemorate this, the lead actors will hold a press conference in Korea on Sept. 12.

The film, which became a topic of discussion due to Korean actor Bae Doona's role as a Korean exchange student, follows a group of high school girls who form a band just before their school festival.

Bae is also scheduled to attend the press conference to share her thoughts on the film's 20th anniversary rerelease and participate in a Q&A session with the audience.

Previously, Taiwanese star Gwei Lun-mei visited Korea in July to celebrate the rerelease of her 2002 film “Blue Gate Crossing.” The Taiwanese film “You Are the Apple of My Eye” was also rereleased last year.

Industry experts say the decline in investment in film production after the COVID-19 pandemic led to a decrease in the number of new films. This in turn has fueled an increase in the rerelease of previously successful and well-received films.

This trend intensified in 2023 with the rerelease of “Titanic” (1997). In 2024, the number of rereleased films as well as their revenue and audience numbers all hit their highest levels since the Korean Film Council (KOFIC) began tracking rereleases in 2013.

KOFIC reported that in 2024, the number of rereleased films was 228, an increase of 80 films from the previous year. The revenue from these films reached 24.5 billion won ($17.57 million), up 16.1 percent from a year ago, and the number of viewers for rereleased films was 2.5 million, a 29.9 percent increase from 2023.

This trend is also evident in the North American market, the world's largest. Filmmaker Steven Spielberg's “Jaws,” rereleased on Aug. 29 to mark its 50th anniversary, took in $98 million at the box office over Labor Day weekend, ranking second behind new releases and achieving the best performance for a rereleased film in the last decade.

Hollywood is increasingly leveraging classic films to boost box office numbers. For the most part, this strategy is proving successful, with recent rereleases like “Hocus Pocus” (1993) and “Coraline” (2009) performing well with modern audiences. More classic rereleases are planned for the near future, including a 40th anniversary screening of the 1985 classic “Back to the Future.”

By Baek Byung-yeul (The Korea Times) (Click)