At a panel discussion on May 2 titled “Dialogue for Restoring the Korean Film Ecosystem,” organized by five major film associations including the Korean Film Producers’ Association, criticism poured forth over the screen dominance of “The Roundup: Punishment.” (Image courtesy of Yonhap)
SEOUL/JEONJU, May 7 (Korea Bizwire) – Amidst the festivities of the Jeonju International Film Festival, which opened on May 1, a dissonant chorus arose as a forum was held to discuss the crisis facing the Korean film industry and potential solutions under the theme “Beyond Survival, Towards Prosperity.”
At a panel discussion on May 2 titled “Dialogue for Restoring the Korean Film Ecosystem,” organized by five major film associations including the Korean Film Producers’ Association, criticism poured forth over the screen dominance of “The Roundup: Punishment.”
The latest installment in the crime franchise occupied over 80% of screening showtimes in its first week, fueling an uproar over its monopolization of theaters.
“This is going too far. During prime hours, ‘The Roundup: Punishment’ is practically the only film screening,” lamented Lee Ha-young, the CEO of Haha Films, raising her voice as sighs echoed from the audience.
One attendee argued, “What’s the point of promoting film production in this environment? Only one or two films survive while the rest perish. We need a screen quota system.”
Concerns were also raised that while ticket prices have increased, the per-admission revenue growth has been lackluster, stifling production and investment.
Participants claimed that cutthroat competition among theaters, leading to excessive free passes and discounts from telecoms and credit card companies, has left production houses bearing the costs.
Lee cited the example of “The Roundup: Punishment,” stating, “Compared to the appropriate price of 12,000 won, the current per-admission revenue translates to a loss of around 900 won per ticket. The production company has missed out on around 10.5 billion won in revenue.”
Outside the opening ceremony on May 1, protesters with picket signs decried budget cuts for independent art films and film festivals.
Calls were made to promptly appoint a chairperson for the Korean Film Council, which has been vacant for four months, and to engage with the film industry during the budget planning process.
“Even now, we need to devise countermeasures, but there is no leader to spearhead these discussions. If this continues, there may not be any films to submit to the Jeonju Film Festival next year or the year after,” warned Lee Dong-ha, the head of the Korean Film Producers’ Association.
While filmmakers lamented the government’s budget cuts and unfair practices by theaters, diverging views emerged from theaters and streaming platforms that interface directly with consumers.
The consensus was that the film industry’s structure needs an overhaul to adapt to the changing market landscape.
Lina Jang (linajang@koreabizwire.com)
