Experts anticipated the South Korean film industry to rebound in 2023, with pandemic restrictions and fears over. However, contrary to these expectations, the industry faced a stark reality. While the U.S. film market saw a resurgence with successful viral marketing campaigns like “Barbenheimer,” the Korean film scene struggled, with only a few films achieving profitability.

This unexpected downturn signaled a critical moment for an industry at a crossroads, challenging its traditional strategies and market dynamics.

A CRISIS YEAR

In 2023, the Korean film industry released over a hundred films in cinemas, but success was elusive, as only six