Korean Films in a Slump

Korean films accounted for 37.6% of the market share in the first half of this year, falling almost 10% year-on-year to record the lowest screen share in 8 years since the figure hit 28.4% in 2000.



According to CGV, Korea’s premier film distributor and theater franchise group, only seven Korean films, including “Forever the Moment” and “Chaser,” drew more than 1 million filmgoers in the first half, demonstrating the dire strait the Korean film industry is in. Thirteen Korean films attracted more than 1 million viewers during the same period last year.

The number of moviegoers also fell noticeably. For the first half of 2008 less than 70.5 million people went to the theaters, a 2.1% drop compared to 2007. However, more people came back to see the film in the month of June than any other months this year, which can be attributed to the release of blockbusters such as “Kung Fu Panda” and “Kang Cheol-jung: Public Enemy 1-1.”

The highest-grossing film so far this year has been director Na Hong-jin’s “Chaser.” This highly acclaimed suspense thriller attracted 5.13 million audience members, followed by “Iron Man” with 4.17 million viewers and “Forever the Moment” with 4.08 million.

Source: KBS World