Magazine article Screen International

Korean Film Industry Exports Up 82% in 2016

Magazine article Screen International

Korean Film Industry Exports Up 82% in 2016

Article excerpt

South Korean film industry exports increased by 82% to total $101m in 2016, according to an analysis report from the Korean Film Council (KOFIC).

The government-funded organisation credited Yeon Sang-ho's hit zombie thriller Train To Busan as one of the main engines of this growth; as well as local VFX companies providing services for large-scale Chinese films; and an increase in foreign productions coming to Korea for location shoots, which the report also counts as 'export' of services from the local film industry.

Separating out the film sale figures, exports of South Korean films reached $43.8m, up 49% from the previous year, and the highest figure on record in the past decade, according to KOFIC.

Genre films were selling with a vengeance, led by Yeon's Cannes Midnight title Train To Busan, which sold to 156 countries including France, the US, Japan, China and India, while Gaumont picked up English-language remake rights.

Park Chan-wook's period thriller The Handmaiden and Na Hong Jin's horror thriller The Wailing are also credited in the report as major sellers.

Compared to 2015, the average South Korean film sold for 2.5 times as much: $64,644. …

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