We travel to the southern port city of Busan, to get the latest from the on-going film festival.
Our Son Heekyung tells us a new project called "Asian Film Market" has officially kicked off its 4-day run, hoping to help the Korean film industry boost sales to other Asian countries as well as support upcoming Asian directors.
The Pusan International Film Festival is trying to assist up-and-coming and aspiring filmmakers across Asia.
To that end, a new project dubbed "Asian Film Market" began a four-day run.
Dozens of people and buyers and exhibitors from the world over attended the opening ceremony.
Festival director Kim Dong-ho and Korean actors Hwang Jung-min and Jang Jin-young were there as well in the middle of fierce media competition.
SON HEEKYUNG, REPORTER: "The Asian Film Market is for those interested in signing contracts for Asian movies. Exhibition and sales booths are set up here by hundreds of companies from more than 40 countries. The market covers all aspects of film business such as market screenings, buyer services and production and co-production services".
The project's managers say they hope to play an important role for Asian movies to ultimately advance further into the world.
Among the market's goals are to bridge diverse cultures and industries and allow more Asian actors star in films in other countries in the region.
Organizers say the market has attracted interest from the world's largest film distributors such as Japan's Toshiba Entertainment, Sony Pictures, and Europe's Wild Bunch and MK2.
So why have exhibitors decided to promote their companies in Busan.
AUSTRALIAN EXHIBITOR: "It's the one place in Korea where all of our clients across television and film and TV commercials can all be in one place. And we get to showcase our work amongst a lot of our competitors and a lot of our partners. It's a very collaborative event and is on the world stage".
A handprinting ceremony recognizing outstanding achievement in film was held in Nampodong district.
This year's honoree is Hungarian director Istvan Szabo whose 1981 film "Mephisto" won the Academy Award for Best Foreign Language Film.
Szabo will also be holding a master class during the festival.
Turning to music -- Haeundae Beach had an all-night rave Saturday night with domestic bands and disc jockeys.
The event attracted young partygoers who were looking for an adrenaline rush.
VISITOR: "This is my first time at this all-night party. I didn't want to miss this rare opportunity to enjoy dynamic music throughout the night".
Thousands of people took part with some screaming and shouting and others simply dancing along to the music.
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