Magazine article Screen International

Korea, China Sign Co-Pro Agreement

Magazine article Screen International

Korea, China Sign Co-Pro Agreement

Article excerpt

South Korea and China have signed a landmark co-production agreement that will allow approved films to be officially classified as local films in both countries.

In the works since August 2011, the agreement most notably allows Korea-China co-productions to screen in China as local films - not subject to the country's strict foreign film quotas of 34 films a year under profit-sharing deals and 30 films as flat-rate imports.

Having signed an MOU in June 2013, the two countries solidified the co-production agreement during Chinese president Xi Jinping's visit to Seoul yesterday (July 3). Cai Fu Chao, director of China's State Administration of Radio, Film and Television, and Yoo Jin-ryong, South Korea's minister of Culture, Sports and Tourism, signed the agreement after a summit between Xi and South Korean president Park Geun-hye. …

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