Government, Producers, and Management Agencies Sign Cooperation Agreement to Revitalize Korean Film Production

-Korea's leading talent management agencies respond to government's Korean film recovery efforts with voluntary commitment to actor fee caps

-Cooperation on actor fees for KOFIC's Mid-Budget Film Production Support program, alongside plans to establish a private-sector consultative body

The Korean Film Council (KOFIC, Chairperson Han Sang-jun) and the Ministry of Culture, Sports and Tourism (MCST, Minister Chae Hwi-young) will sign the "Government–Production Company–Management Agency Agreement for Revitalizing Korean Film Production" with major domestic management agencies and film production organizations on Thursday, July 16, at 2:00 PM at MMCA Seoul (National Museum of Modern and Contemporary Art, Seoul).

The signing ceremony will be attended by KOFIC, MCST, leading management agencies including BH Entertainment, Management SOOP, and J,WIDE Company, along with the Korean Film Producers Association (KFPA) and the Producers Guild of Korea (PGK). Representatives from each signatory organization will sign the agreement.

Through this agreement, the management agencies and production industry have committed to ensuring that fees for lead and supporting actors in projects selected under KOFIC's Mid-Budget Film Production Support program are set at less than 10% of net production costs. The parties have also agreed to establish a private-sector-led consultative body—comprising management agencies, production companies, and investment-distribution companies—to ensure the signing ceremony is not a one-time event and to continue sustained discussions on improving the production environment. The agreement, however, constitutes a moral commitment and carries no legal enforceability.

The agreement is regarded as an exemplary case of public-private cooperation. The government took proactive steps to revive the Korean film production ecosystem by establishing the Mid-Budget Film Production Support program in 2025 at a scale of KRW 10 billion (approx. USD 7.2 million), and by expanding the program to more than four times that figure—KRW 46 billion (approx. USD 33.3 million)—in the current year. In response, the actor and management sector, as a core constituency of the film industry, has demonstrated voluntary engagement and solidarity.

KOFIC Chairperson Han Sang-jun stated: "There are situations in which projects cannot even get off the ground due to production cost structures, despite strong concepts and genuine creative talent. Mid-to-low-budget films are the backbone sustaining the diversity and future of our industry, and we must work together to build a healthier production environment."

Minister Chae Hwi-young said: "I am deeply grateful that actors—the core driving force of Korean cinema—and the management industry have resonated with the government's efforts to revive Korean film and stepped forward to take a leading role. The government will spare no policy support to ensure that public financial backing and the film industry's mutual-benefit commitments generate synergies that allow Korean cinema to take its next great leap forward."

Published under Public Domain Mark (Korea Open Government License — Attribution). For further inquiries regarding this release, please contact the person in charge. Source: Korean Film Council (KOFIC)

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