Seoul Decides to Reduce Screen Quota by Half
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A policy protecting Korea's film industry is facing a drastic reduction.
The government announced today that starting this July, cinemas will only have to show Korean movies, for 73 days of the year.
That's half the current regulation, which was introduce four decades ago.
Kim Min-jung has the government's announcement.
Come this July, Korean movie theaters will only have to screen locally produced movies for 20 percent of a year, down from the current 40 percent.
The government's decision to cut the mandatory quota for domestic films follows pressure from the United States to open up the local movie market to Hollywood productions.
HAN DUCK-SOO, MINISTER OF FINANCE AND ECONOMY: "The screen quota system is a widely recognized scheme in the world, so we decided to maintain it, but the quota will be cut to 73 days a year".
Since 1966, Korea has limited the number of days foreign films can be shown in local cinemas, to help nurture the Korean movie industry.
But Mr. Han, who is also the deputy prime minister, pointed out that Korean films took up nearly 60 percent of local screenings last year, more than the present quota provides for.
Minister Han added Korea exported local movies worth 76 million U.S. dollars in 2005, attributing the stellar performance to Korean moviemakers' creativity.
HAN DUCK-SOO, MINISTER OF FINANCE AND ECONOMY: "It is in the interest of the nation to actively push for free trade agreements with other countries, and we cannot but reconsider our restrictive measures, if they stand in the way of the process".
The government's controversial decision came as Korea is expected to start free trade negotiations with the U.S. as early as next month.
Washington has been making Seoul's reduction of its screen quota, a key precondition to sealing an FTA.
"Mindful of the fierce opposition from the local movie industry, Seoul's top economic policymaker stressed that the government will keep on supporting the industry, to help it maintain its market competitiveness. Details of the plan, he said, will be announced by the culture ministry on Friday.
Kim Min-jung, Arirang News".
The government announced today that starting this July, cinemas will only have to show Korean movies, for 73 days of the year.
That's half the current regulation, which was introduce four decades ago.
Kim Min-jung has the government's announcement.
Come this July, Korean movie theaters will only have to screen locally produced movies for 20 percent of a year, down from the current 40 percent.
The government's decision to cut the mandatory quota for domestic films follows pressure from the United States to open up the local movie market to Hollywood productions.
HAN DUCK-SOO, MINISTER OF FINANCE AND ECONOMY: "The screen quota system is a widely recognized scheme in the world, so we decided to maintain it, but the quota will be cut to 73 days a year".
Since 1966, Korea has limited the number of days foreign films can be shown in local cinemas, to help nurture the Korean movie industry.
But Mr. Han, who is also the deputy prime minister, pointed out that Korean films took up nearly 60 percent of local screenings last year, more than the present quota provides for.
Minister Han added Korea exported local movies worth 76 million U.S. dollars in 2005, attributing the stellar performance to Korean moviemakers' creativity.
HAN DUCK-SOO, MINISTER OF FINANCE AND ECONOMY: "It is in the interest of the nation to actively push for free trade agreements with other countries, and we cannot but reconsider our restrictive measures, if they stand in the way of the process".
The government's controversial decision came as Korea is expected to start free trade negotiations with the U.S. as early as next month.
Washington has been making Seoul's reduction of its screen quota, a key precondition to sealing an FTA.
"Mindful of the fierce opposition from the local movie industry, Seoul's top economic policymaker stressed that the government will keep on supporting the industry, to help it maintain its market competitiveness. Details of the plan, he said, will be announced by the culture ministry on Friday.
Kim Min-jung, Arirang News".
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