S. Korean cinema grows with less budget in 2009

SEOUL, Jan. 25 (Yonhap) -- South Korean cinema performed well in 2009, with both
the number of films released and ticket sales climbing sharply, but the gap in
investment between blockbusters and indie movies grew, a report said Monday.
According to the Korean Film Council report, 138 movies were made in the country
last year, compared to 113 produced during the stagnant period of 2008. The
figure was up even from the renaissance years of 2006 and 2007, which saw 110 and
124 movies produced respectively.
The number of viewers went up by 4 percent to more than 156 million people in the
country with the population of 48.3 million. Theater ticket sales rose by 11
percent to 1 trillion won (US$950 billion).
But less money was injected in the movie industry amid the economic downturn. The
gross production budget was 318.78 billion won, compared to about 340 billion won
the previous year.
The film council said the decreased investment suggests a consistent polarization
in the movie industry, as blockbusters edged out mid-scale films and small
producers turned to art and independent flicks. The average production cost per
film was 2.3 billion won, the lowest since 2001.
Sixteen movies, 13 percent of the total, reached their breakeven points, up from
10 movies or 9.3 percent in 2008.
hkim@yna.co.kr
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