Korean Industry Moves Forward Slowly as 2021 Remains Rocky

Korean Industry Moves Forward Slowly as 2021 Remains Rocky
Triumph and pain were bedfellows last year for the Korean film industry. But Berlin’s European Film Market and the imminent Hong Kong FilMart see Korean companies putting on a brave face.

Korean cinemas were in a defensive mode early on in the coronavirus pandemic, as a population familiar with epidemics chose to stay away from crowded places. Social-distancing regulation caught up and then was wound down again in summer. That allowed for the successful theatrical releases of “Deliver Us From Evil,” which scored $34.4 million; “Peninsula,” which grossed $29.5 million; and the year’s top Hollywood film “Tenet” ($16.4 million).

But the window of opportunity closed quickly as autumn and another wave of infections swept in. New capacity restrictions were applied to cinemas.

And even as restrictions have eased audiences have scarcely responded. Weekend box office in what was previously the world’s fourth most-lucrative cinema market has averaged $3 million to $4 million
See full article at Variety »

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