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Wednesday, May 25, 2011

Korean Cinema News (05/09-05/15, 2011)

With Cannes underway we await with bated breath to see if any Korean films will walk away with some trophies.  For now some industry news to hold us over and this week's box office report.


KOREAN CINEMA NEWS

While Audiences Shrink, Box Office Grows
The box office report for the first quarter of 2010-2011 from the Korean Film Council shows that while audiences have slightly diminished, revenue is up due to varied platforms including 3D showings. 2011 is off to a good start with Korean films clinching 56% of the market while the earning rate is the best it has been in a few years. (KOBIZ, May 9, 2011)

CJ Entertainment has secured a number of sales at the Cannes film marjet.  Chief among them is Tarbosaurus, the dinosaur action film and Sector 7, the 3D underwater monster film.  Also pre-sold was K-pop horror film White: The Melody of the Curse. (Screen Daily, May 11, 2011)

To spur local business by enticing foreign filmmakers, the Korea Film Council has undertaken to launch an incentive program which will offer a 25% rebate on production costs on foreign films with a budget under 3 billion won shot in Korea.  (Korean Cinema Today, May 13, 2011)

The Hollywood Reporter investigates the success of smaller Korean films that are finding niche audiences.  The film also alludes to the depression of Korean film industry.  While very informative be warned, this article is frequently wrong, for example: 'After hitting an all-time low in the mid-2000s', as I recall it this was the peak of Korean cinema.  I was also flabbergasted to find out that Battlefield Heroes cost nearly $80 million to make!  (The Hollywood Reporter, May 13, 2011)

10 Korean Films You Probably Haven't Seen
Japancinema.net offers up ten films from the 2000s that may not appear on more conventional lists.  Those listed include: A Good Lawyer's Wife (2003), Family Ties (2006), When Romance Meets Destiny (2005), Breathless (2008), and more.  (Japancinema.net, May 14, 2011)

In an effort to push into international markets, Fox International Pictures (FIP) has begun making films in local markets.  One example is Na Hong-jin's acclaimed The Yellow Sea which was a success in Korea and is now vying for the Palme d'Or at Cannes.  It is expected to do well at the Cannes film market.  (The Hollywood Reporter, May 15, 2011)


BOX OFFICE

This week Sunny - 2010 took the Box Office crown, commanding the marketplace with over 600,000 admissions.  The Apprehenders took a big hit and came away with 135,000.  Clash of the Families likely spent its last weekend in the Top 10, it has accumulated 2.5 million ticket sales to date.  (Hancinema.net, May 15, 2011)


Korean Cinema News is a weekly feature which provides wide-ranging news coverage on Korean cinema, including but not limited to: features; festival news; interviews; industry news; trailers; posters; and box office. It appears every Wednesday morning (GMT+1) on Modern Korean Cinema. For other weekly features, take a look at the Korean Box Office Update and the Weekly Review Round-upReviews and features on Korean film also appear regularly on the site. 

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