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Ko - production in Busan
- INFOGRAPHICS
- Welcome to the 10 Billion Club!
- by CHO Meanjune / Jun 19, 2017
- Ten Most Expensive Korean Movies of 2017
According to the Korean Film Council (KOFIC) ‘Report on 2016 Korean Film Industry’, only 14 films had production costs that exceeded KRW 10 billion (USD 8.82 million). This was a significant increase from the six of 2015. Meanwhile at the same time, the average production cost of domestic commercial films of the year was the lowest record in the last five years. In 2016, the average production cost of Korean commercial films was USD 4 million, much less than USD 4.8 million of the previous year.So far, in 2017, 11 movies have revealed production costs exceeding KRW 10 billion. With half the year still remaining, that number is likely to grow as there are possibly some yet-to-be-released films that also have big budgets. There is expected to be as many blockbusters this year as last year.The lineup of films with budgets exceeding USD 8 million includes The Mayor, The King’s Case Note and WARRIORS OF THE DAWN. In terms of genres, period dramas (A Taxi Driver, Namhansanseong-Namhansan Mountain Fortress and The Battleship Island), fantasy (Along with the Gods) and Sci-fi (Okja) are in the top spot due to their genre specialties. Particularly, REAL, actor KIM Soo-hyun’s comeback film after Secretly Greatly (2013), was partly funded by Chinese Alibaba Pictures while Okja was fully financed by international streaming giant Netflix.Along with the Gods, which will release its first of two parts this year, has a USD 35.3 million total production cost, approximately more than USD 17.6 million for each part. In addition, Okja broke the all-time Korean record of production costs. The previous record, also set by BONG Joon-ho, was USD 38.5 million set by Snowpiercer (2013).
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