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South Korean Film Industry Battles Box Office and Streamer Struggles
South Korea's film industry faces challenges brought on by COVID and streamers like Netflix.
Lightning struck twice in February, when the normally arthouse-focused Berlin festival played world premieres of the two biggest recent commercial movies from South Korea — occult drama “Exhuma” and “The Roundup: Punishment.” Korean producers and distributors responded to the pandemic, first, by selling a few films to streaming, then by holding on to other completed titles in the hope that the theatrical market would snap back to pre-COVID levels once social distancing and other health measures were removed. Industry reactions to the proposals have split along predictable lines, with producers, distributors and exhibitors mostly in favor, and streamers against, arguing that it restricts choice and diminishes the incentive for them to invest in theatrical movies.
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