South Korean films landed deals worth $10 million at this year’s Marche du Film, a trade event for the film industry held alongside the Cannes Film Festival.
Films sold at this year’s event in Cannes include “Believer,” as well as “The Spy Gone North,” “Drug King” and “Her Story.”
According to data from the Korean Film Council (KOFIC), Korean production houses inked a total of 292 deals at the event this year, valued at a record 11.6 billion won ($10.3 million). The value of the deals jumped 47 percent from $7 million recorded last year. Eight Korean film companies including CJ E&M took part this year.
still image from the movie “The Spy Gone North.” (CJ Entertainment)
The sales jump comes as Korean filmmakers enjoyed an increasing number of business opportunities with global streaming platforms, such as Netflix, said Park Shin-young, an official at the KOFIC.
A rise in sales in the Asian region also helped increase net exports at this year’s event, the film council said.
By Yim Hyun-su (firstname.lastname@example.org