The first edition of the Asian Film Market (AFM) at the 11th Pusan International Film Festival (PIFF) closed last Thursday evening with a party at the Grand Hotel in Busan. The AFM announced several reasons to celebrate. Over 3,500 professionals from the film industry participated in the AFM, representing 562 sales, distribution and exhibition companies from approximately 40 countries worldwide.
Korean films also attracted strong interest and 15 were sold to international territories. Despite some minor problems that come with the inauguration of a major event, organizers called the AFM a success with a number of contracts signed, and expectations are that the AFM can grow and establish itself as a major market for international film deals, with a special focus on Asian cinema.
Lessons can also be learned from the first edition. Beforehand, the inclusion of major distribution companies from Japan was regarded as a great contribution to the AFM, but these major players didn't close many deals. However, this was compensated for by the activity of other companies. In addition, the film market missed out on highly anticipated Korean titles, including PARK Chan-wook's "I'm a Cyborg, But That's OK". There was also room for improvement in communication with the AFM, with some participants saying that contact persons were sometimes difficult to reach.
The AFM was a complete market event, comprising sales booths, buyers, co-productions and market screenings. The market showcased a great variety of Asian films, from popular fare to artistic films. There was also the noticeable rise of films co-produced between Asian countries.
Yi Ch'ang-ho (KOFIC)
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