Magazine article Screen International

India, South Korea Sign Co-Production Agreement

Magazine article Screen International

India, South Korea Sign Co-Production Agreement

Article excerpt

South Korea and India have signed an audio-visual agreement to facilitate co-productions. The treaty was signed by South Korean minister of Trade, Industry and Energy Yoon Sang-jik and Indian vice foreign minister Anil Wadhwa at a ceremony in Seoul yesterday (May 18).

The ceremony was attended by South Korean president Park Geun-hye and Indian prime minister Narendra Modi during his two-day trip to Seoul to further bilateral free trade agreements.

The Korean Ministry of Trade, Industry and Energy stated that the agreement will allow film and broadcast co-productions the following:

* Equal treatment, eligible for the same benefits, as domestic product

* Facilitation of co-producers' entry into either country

* Temporary committees to resolve other restrictions and barriers

To qualify as a co-production, 20% or more of a film's production budget must be from the partner country and 30% in the case of broadcast programmes. …

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