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Record Yearly Market Share Expected

2006/11/21 Source

A report by Korea's leading cinema chain CJ CGV predicts a 60% plus market share of Korean films in the domestic market this year. After the first ten months of 2006 a market share of 61.9% is recorded by CJ CGV.

Even if the admissions will turn out lower than the prospect during the remaining months of 2006, Korean films should still make up for at least 60% of the market. CJ CGV's outlook for 2006 is bolstered by the minimal number of scheduled releases of foreign blockbusters during November and December.

A 60% market share of domestic films would be the highest recorded share, since 1998 when the Korean Film Council started documenting the annual market share of Korean films.

Until October 140,842,584 tickets were sold. The well-performing: "The King and the Clown", "My Boss, My Teacher", "The Host", "Tazza: The High Rollers" ("Tazza: The High Rollers"), "Marrying the Mafia III", "Radio Star" and "Maundy Thursday" ("Our Happy Time") were mostly responsible for this high number of admissions.

Highly anticipated Korean releases for December include Park Chan-wook's romantic comedy "I'm a Cyborg, But That's OK" and the martial arts fantasy The Restless.

2006 witnessed several record breaking Korean films. Early this year "The King and the Clown" became the most popular Korean film, replacing "Taegukgi" (2004). During the summer, The King and the Clown was already surpassed by "The Host". "My Boss, My Teacher" became the highest grossing Korean comedy and "Tazza: The High Rollers" ("Tazza: The High Rollers") already sold more tickets than "Friend" (2001), making it the most successful PG-rated Korean film.

Yi Ch'ang-ho (KOFIC)

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