In 1988 the Korean film industry was on the verge of failing. In accordance with trade liberalization, United International Pictures (UIP) announced the direct distribution of films in Korea. Due to the direct distribution, Hollywood films in Korea have increased twice as much as the previous year (around 175 films).
Some in the Korean film industry resisted the increasing screening of Hollywood movies by setting fires in the theaters. After about two years, UIP has broadened its distribution range from suburban to city areas, augmenting the market share of foreign films to 81.2%. In 1993, the rate of foreign film's market share went up to 85%.
The surprising turn over in the market share of the Korean film industry began in late 1990s. Starting from Kang Jae-kyu's film "Shiri" in 1999, the market share of Korean films had increased from 39.7% to 50.1% by the year 2001. The breakthrough of 50% in Korean film market share was a striking phenomenon at that time. The people of the K...|
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