Korean Movie Raises 300 Million through Crowdfunding Campaign

The movie “The Hunt” successfully finished a round of crowdfunding. (image: Kobiz Media/ Korea Bizwire)

SEOUL, June 15 (Korea Bizwire) – The movie “The Hunt” starring Ahn Sung-ki and Cho Jin-woong successfully finished a round of crowdfunding on Tuesday, June 14.

The Hunt Crowdfunding Corporation, established exclusively to raise funds for the movie, started attracting funds on June 13, with the goal of raising 300 million won.

By 2 p.m. on June 14 the new entity had raised approximately 256 million won, 85 percent of its goal. A fundraiser is typically considered as a success once it reaches 80 percent of the goal.

The funds raised through the campaign will be used to cover marketing costs for the film, which has its premiere scheduled for June 29.

Investors will earn a 5.7 percent return if the movie draws 1.8 million viewers. Their return on investment will be 13.5%, 51.0%, and 89.4% if the movie draws more than 2 million, 3 million, and 4 million viewers, respectively.

The Financial Services Commission also reported that three investors – Kiwoom Securities, Eugene Investment Co. and Doabler Platform – have been added as agencies.

The movie now has a total of 11 crowdfunding agencies. 

By M. H. Lee (mhlee@koreabizwire.com)