Pan-Asian Wide Incentive Program Announced at Pusan
Published on | Source
Out of Pusan a plan has been created by seven Asian film commissioners to create an Asia wide film incentive program. Many regional and national film commissions from Asian countries already offer incentive programs but this is the first time that a pan-Asian program has been discussed. At this stage, the form this program will take will be as a system that reduces customs and tariff formalities. Included in the agreement is the development of co-operation programs to encourage cultural understanding between Asian countries and therefore boost inter-cultural film business. The joint declaration was made by the Korea Film Council (KOFIC), the Multimedia Development Corporation of Malaysia, the Film Development Council of the Philippines, the Japan Film Commission, Thailand's Film Office, the Nepal Film Development Board and the new Cambodia Film Commission.
The announcement was made at the Film Policy Plus (FPP) organized by the Asian Film Commissions Network (AFCNet) and the Busan Film Commission which took place at this year's Busan International Film Festival. As well as customs and tariffs the agreement expects to capitalize and work within the rebate and incentive programs offered by other Asian countries. Busan itself offers 30% of all shooting costs up to 100 million Korean won ($86,000) and further north the Kyeonggi-do region offers a similar program.
A U.S. $20 million film fund created by KOFIC which partners with the private sector is also being planned. 15% of this fund will go towards investments in international co-productions. The FPP ran for two days at Busan and wrapped up October the 14th.
David Oxenbridge(KOFIC)
The announcement was made at the Film Policy Plus (FPP) organized by the Asian Film Commissions Network (AFCNet) and the Busan Film Commission which took place at this year's Busan International Film Festival. As well as customs and tariffs the agreement expects to capitalize and work within the rebate and incentive programs offered by other Asian countries. Busan itself offers 30% of all shooting costs up to 100 million Korean won ($86,000) and further north the Kyeonggi-do region offers a similar program.
A U.S. $20 million film fund created by KOFIC which partners with the private sector is also being planned. 15% of this fund will go towards investments in international co-productions. The FPP ran for two days at Busan and wrapped up October the 14th.
David Oxenbridge(KOFIC)
Advertisement