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  • A Little Makes a Lot
  • by KIM Hyun-jung /  Feb 14, 2017
  • Korean Films with Successful Crowdfunding
     

    Snowy Road about two girls during the Japanese Occupation reached its goal to raise in 30 minutes after its funding campaign started, recording the shortest time in Korean film history. It means crowdfunding of local films is getting more and more attention and response. 

    The Korean film industry is not stranger anymore to crowdfunding when Spirits' Homecoming (2016) was released. The film about sexual slavery for Japanese soldiers could cover the part of producing and releasing cost with USD 520,000 raised through two times of campaigns on the Kakao Storyfunding. 

    Indeed, films utilizing this kind of funding are mainly independent or art movies because they are considered to be not profitable for mainstream investors. Le Tour: My Last 49 Days, a documentary about a cyclist diagnosed with late-stage of rare cancer, collected USD 60,000 through crowdfunding, while indie film Queen of Walking (2016) starring SHIM Eun-kyoung met its fundraising goal of USD 87,000 in only two hours after the campaign started. Recently, New Trial achieved its funding goal of USD 110,000, which is about urging a retrial of a murder case in Iksan, Jeollabuk-do Province. 

    However, blockbusters also use the crowdfunding format. Operation Chromite (2016) made with a budget of USD 480,000 recording the highest rate of return. Meanwhile, the most amount of fund was set by nuclear disaster movie Pandora (2016). It broke the highest record with USD 610,000 in Korean film history.
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