S. Korea's film exports fall over 50 percent

By Kim Young-gyo
SEOUL, Oct. 17 (Yonhap) -- South Korea's film exports have fallen over 50 percent
in the past two years, according to government data reviewed here Friday.
Film exports declined about 50 percent from a year earlier to US$12.28 million
this year, the state's Korea Film Council said. The declining numbers follow a 68
percent drop last year from the previous year to US$24.51 million.
South Korean cinema gained international fame following the release of director
Park Chan-wook's "Old Boy," which won the Grand Prix award at the 2004 Cannes
Film Festival.
In 2003 the global market share of Korean films surged 107 percent, while in 2004
the total rose by 88 percent.
Sales figures reached their peak in 2005 with a 30 percent increase to US$75.99
million.
In 2001 and 2002, the average production cost per film was US$110,000, rising to
US$370,000 in 2005.
The numbers have since fallen back to US$110,000 in 2006 and to US$38,000 in 2007