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Korean Film News

Korea: 3rd in Consumption Domestic Films, 9th in Size Film Market

Aug 07, 2006
  • Writerby Yi Ch'ang-ho (KOFIC)
  • View2336
After numerous news reports about multiple foreign distribution deals for Korean films, including recent films The Host (BONG Joon-ho) and Time (KIM Ki-duk), data collected by the Korean Film Council confirmed the strong position of domestic fare in the Korean home market. Worldwide, Korea ranks third in favoring domestic films. The survey also shows that the Korean film industry is the ninth largest globally. The U.S. and India distinguish each other from the other countries in several categories. The U.S. is the number one in the consumption of domestic films with 94% and India is at virtually the same level, 93%. Korea leads the remaining countries, boosting a 59% occupancy of cinemas by domestic films. The Korean film market's growth from US $ 994 million in 1999to US $ 1.3 billion in 2004 resulted in becoming the ninth largest film market. The U.S. kept the other countries far at bay with US $ 34.3 billion. The global film market increased from US $ 49.9 billion in 1999 to US $ 83.4 billion in 2004. Korea produced 82 films in 2004 and India was the most productive with 946 films. Yi Ch'ang-ho (KOFIC)
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