Hollywood has entered the South Korean film market in full swing, with nearly 40% market share

Hollywood film distribution companies are in the limelight in the South Korean market. In the past five years, the audience share of American Hollywood film distribution companies such as Walt Disney, Warner Bros., UPI and the Korean branch of 20th Century Fox in the Korean film market has continued to rise.

The distribution company of the Korean film "Yes, This is the Family" released on the 15th of last month is very eye-catching because it is the first Korean film released by Walt Disney's Korea branch in the United States. The movie tells the story of a disorganized family that has reconciled their relatives because of the appearance of the youngest. Disney, which has a wide range of historical positions, chose this movie. "The Single Knight" starring Lee Byung-hun and Kong Hyo-jin was released last week. This is the second South Korean film released by Warner Bros. following last year's successful trial of "The Secret Service".

By investing in South Korean films,

Hollywood film distribution companies are gaining traction in the South Korean market. In the past five years, the audience share of American Hollywood film distribution companies such as Walt Disney, Warner Bros., UPI and the Korean branch of 20th Century Fox in the Korean film market has continued to rise. According to statistics from the Korea Film Promotion Committee, the share of U.S. distribution companies was only 26.6% in 2012, increased to 33.5% in 2014, and reached 39.1% last year, setting a new record.

This figure also means that overseas distribution companies have played an important role in the investment and distribution of Korean films. Last year, Warner Pictures 'South Korean branch invested in the first South Korean film."The Secret Agent" was successful in testing the water, earning 7.6 million box office results. "Cry" by the 20th Century Fox South Korean branch also attracted 6.88 million viewers. Fox also distributes foreign films in South Korea. Including the external films released, Fox received a total of 20.7 million box office visitors last year, of which "Crying" alone accounted for 33%.

The industrial policy research team leader of the Korea Film Promotion Council said,"Overall, the audience share of Korean local films has increased compared to 2015. The share of Korean films has also increased as the share of overseas distribution companies, because overseas distribution companies have participated in the distribution of Korean films and achieved box office results of more than 10 million visitors."

Can this year's share exceed the 40% mark?

On the other hand, the audience share of the four major distribution companies (CJ Entertainment, Lotte, NEW, and SHOWBOX) known as the "BIG 4" of the Korean film distribution industry is gradually shrinking.

In 2012, the audience share of the four major companies totaled 64.5%, but shrank to 52% in 2014; last year it fell to 48%, or even less than half. This is the first time since 2008 that the audience share of South Korea's four major film distribution companies has dropped by 50%. A relevant person from a large South Korean distribution company said,"The competition between local and Hollywood capital has become increasingly fierce around the 'hegemony' of investment and distribution of Korean films."

This year, U.S. distribution companies 'investment in South Korean films has also continued to expand. Whether the audience occupancy can exceed 40% has become the focus of people's attention. Tomas Jegeus, a representative of 20th Century Fox International, visited South Korea when "Cry" was released in May last year. He spoke highly of the development of the Korean market and said,"The production of local films will be promoted in the future." Currently, it is one product a year, but in the future it will increase to two or three products a year in South Korea." Starting from 2013's "Runaway Dad", 20th Century Fox has invested in and released four Korean films.

Editor: yvette