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Market share of South Korean films plummets


Market share of South Korean films plummets

By Stephen Cremin

Tue, 08 July 2014, 15:40 PM (HKT)


Box Office News

According to official numbers from the Korean Film Council (Kofic) 영화진흥위원회, local films had a 43.0% market share in the first half of 2014, down from 56.6% in 2013 and the lowest in percentage terms since 2009.

Overall admissions were also down, from a record 98.5 million in the first half of 2013 to 96.51 million. However, the figure still represents the second highest on record. Box office stood at ₩742 billion (US$733 million) in the first half of the year.

Despite the overall drop, foreign films had record attendance of 55.0 million admissions. Ticket sales were boosted by record-breaking animation Frozen, Edge of Tomorrow and three superhero titles in the top ten.

Three films have broken five million admissions so far in 2014, compared to four in 2013 and just one in 2012. Two of the three are local films, Miss Granny 수상한 그녀 and The Attorney 변호인 on 8.63 million and 5.69 million admissions respectively.

Just outside the top ten is Transformers: Age of Extinction, which had 2.82 million admissions by 30 Jun. It has now secured 4.23 million admissions with box office takings of ₩35.6 billion (US$35.2 million) by Monday night.

Several high profile South Korean films are set to go head-to-head with Hollywood releases over the summer. They include Kundo: Age of the Rampant 군도 민란의 시대 | 群盜 on 23 Jul, Roaring Currents 명량:회오리 바다 on 30 Jul, The Pirates 해적 바다로 간 산적 | 海賊 on 6 Aug and Haemoo 해무 | 海霧 on 13 Aug.

The number one draw in South Korea yesterday was local action film The Divine Move 신의 한수, with more than double the admissions of the Transformers sequel. Since opening on 3 Jul, it has made ₩10.9 billion (US$10.8 million) on 1.34 million admissions.

 
SOUTH KOREA BOX OFFICE H1 2004

  1. Frozen (₩82.3b; US$81.4m; 10.3m admissions)
  2. Miss Granny (₩62.5b; US$61.8m; 8.63m admissions)
  3. The Attorney (₩41.9b; US$41.4m; 5.69m admissions)
  4. Edge of Tomorrow (₩36.3b; US$35.9m; 4.39m admissions)
  5. The Amazing Spider-man 2 (₩34.8b; US$34.4m; 4.31m admissions)
  6. X-Men: Days of Future Past (₩34.6b; US$34.2m; 4.17m admissions)
  7. Captain America: The Winter Soldier (₩31.7b; US$31.3m; 3.96m admissions)
  8. The Fatal Encounter (₩29.9b; US$29.6m; 3.85m admissions)
  9. A Hard Day (₩24.5b; US$24.2m; 3.13m admissions)
  10. The Target (₩22.3b; US$22.0m; 2.84m admissions)

(Note: The Attorney, which opened on 18 Dec 2013, has secured 11.4 million admissions in total.)


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