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Reflecting the growing ties between Korea and China, as well as the recent growth of the Korean film industry’s ancillary markets, the Asian Film Market kicked off with a bang yesterday for its 9th edition, as 196 companies from 24 countries filled up the exhibition hall, up from the 142 exhibitors that participated last year.

 

Taking up 30% more exhibition space, buyers and sellers are visiting Busan in droves this year, to capitalize on new opportunities in the region, opened up by Korea’s increased secondary markets and its ties with China. Also serving as an incentive was the festival’s decision to support travel and accommodation for certain companies, a system that was started last year.

 

Three years ago, the Asian Film Market moved to its current home, the BEXCO Convention Center, from the convention spaces of Haeundae’s hotels. This year, the event has filled up the cavernous center's hall, despite its competitive timing on the festival calendar.

 

Chinese language films occupy the opening and closing slots, as well as two gala presentations at this year’s Busan International Film Festival, and the growing presence of Korea’s mainland neighbour is equally evident at the market. For the first time, China’s State Administration of Radio, Film and Television has brought a delegation consisting of 11 Beijing-based film companies to the market. This push reflects the increased ties between the two powerhouse filmmaking nations, who ratified a film treaty earlier this year and are involved in numerous high profile co-productions.

 

 

As with other years, BEXCO will also be filled with various pitching projects from the Busan Film Commission, the Korean Creative Contents Agency as well as the Asian Project Market and the Book to Film pitching forum. In addition, Ties that Bind is another workshop that seeks to promote co-productions between Asia and Europe.

 

Also of note is a special panel on producing blockbusters in Korea, which will feature the directors and producers of every local film that has managed to cross the vaunted 10 million admissions mark.

 

The 9th edition of the Asian Film Market, which is expected to record a 20% attendance rise, runs until Wednesday, October 8th.