NEWS & REPORTS
- Korean Film News
- Hong Kong's Cinematic Potential is ‘Alive and Well’
- by Korean Film Council / Apr 11, 2025
Hong Kong has long maintained a close relationship with Korea’s film industry and continues to be a key export market for Korean cinema. In this edition of the <KOFIC Correspondents Report>, we take a closer look at the evolving landscape of Hong Kong’s film market before and after the pandemic, and how Korean films are performing there – shedding light on Hong Kong’s strategic value for the Korean film industry.
<Korean Films Rank 4th in Theatrical Releases in Hong Kong>
Hong Kong — officially known as the Hong Kong Special Administrative Region (HKSAR) — holds a unique position in the Asian film market. Despite its modest population of 7.49 million in 2023, Hong Kong boasts the world’s highest average cinema attendance at 3.39 visits per person annually. Its strong economy, reflected in a per capita GDP of USD 51,168, supported a robust box office that reached HKD 1.433 billion (approx. KRW 253.6 billion) in 2023 – outperforming larger Southeast Asian markets such as Vietnam, Thailand, and Malaysia.
The market's infrastructure is also noteworthy. After peaking in 2018 with 152 production and 113 distribution companies, numbers dipped during the pandemic but began recovering in 2021. As of 2023, Hong Kong has 131 production companies and 99 distributors, along with 63 investment firms, 52 PR agencies, 19 equipment rental services, 12 cinema chains, and 10 post-production support firms.
The number of cinemas peaked at 71 in 2021 and stood at 67 in 2023. Screen count, which first surpassed 300 in 2019, reached 343 in 2021 and settled at 316 in 2023 — a sign that Hong Kong’s market remains vibrant and full of potential.
Key Characteristics of the Hong Kong Film Market
The year 2023 marked a meaningful recovery for the Hong Kong film market. Although total box office earnings of HKD 1.433 billion have yet to return to pre-pandemic levels, the rebound is undeniable. Of the 267 films released in 2023, 46 were local productions – a significant increase from just 27 in 2022, signaling a resurgence of homegrown cinema.
In a surprise box office twist, the top-grossing film of 2023 was the Hong Kong production A Guilty Conscience (毒舌大狀), which earned HKD 115.06 million (approx. KRW 20.2 billion). This marked the first time since Kung Fu Hustle in 2004 that a local film topped the annual box office – and the first ever to surpass HKD 100 million. The comedy-crime film, starring renowned stand-up comedian Dayo Wong (黃子華), went on to sweep major categories at the 2024 Hong Kong Film Awards, including Best Film.
Rounding out the top five were Hollywood heavyweights: Oppenheimer (HKD 72.97 million), Mission: Impossible – Dead Reckoning (HKD 60.53 million), The Super Mario Bros. Movie (HKD 52.52 million), and Guardians of the Galaxy Vol. 3 (HKD 44.11 million), highlighting the continued dominance of Hollywood blockbusters in the region.
Interestingly, viewer preferences in Hong Kong differ noticeably from those in neighboring Taiwan. While Japanese animation The First Slam Dunk topped Taiwan’s box office, it placed only 7th in Hong Kong – suggesting a stronger local appetite for Western titles in Hong Kong.
Korean Cinema in Hong Kong (2018–2023)
Korean films remain a staple in Hong Kong, ranking fourth in theatrical release volume after the U.S., Japan, and local productions. In 2018 and 2019, 20 Korean films were released each year. The number dipped to 9 in 2021 due to the pandemic but recovered to 15 in 2022 and 12 in 2023. Action and crime genres, in particular, continue to resonate well with local audiences.
One of the most notable successes came in 2018 with the Along with the Gods series. Along with the Gods: The Two Worlds grossed HKD 54.43 million over a 91-day run, placing 9th overall that year. Its sequel, Along with the Gods: The Last 49 Days, also made the top 10, earning HKD 48.24 million over 56 days — marking the first time two Korean films ranked in Hong Kong’s annual top 10. In the same year, 1987: When the Day Comes ranked 67th (HKD 3.95 million) and Gonjiam: Haunted Asylum came in 77th (HKD 3.42 million).
In 2019, Parasite enjoyed a 147-day theatrical run and grossed HKD 14.22 million. Extreme Job followed with HKD 12.85 million over 70 days, while The Divine Fury earned HKD 8.12 million. Exit and Take Point also performed steadily, with HKD 5.65 million and HKD 3.23 million, respectively.
<Still Cuts from Ashfall and Peninsula>
2020 turned out to be an unexpectedly strong year for Korean cinema in Hong Kong. With Hollywood releases delayed, Korean films filled the gap: Ashfall ranked 4th overall with HKD 18.63 million over 45 days, while Peninsula took 5th place with HKD 16.49 million over 76 days. These rankings marked the first time two Korean films broke into the annual top 5 for all foreign titles. Other titles also fared well: Beauty Water (HKD 4.48 million), Secret Zoo (HKD 2.87 million), and The Battle of Jangsari (HKD 2.43 million).
In 2021, Sinkhole grossed HKD 5.99 million over 71 days, followed by Seobok (HKD 5.02 million) and Escape from Mogadishu (HKD 3.47 million). In 2022, Emergency Declaration earned HKD 6.88 million, Broker HKD 5.23 million, while Decision to Leave and Alienoid: Part 1 brought in HKD 3.07 million and HKD 2.76 million, respectively. In 2023, standout Korean releases included Concrete Utopia (HKD 3.30 million), The Roundup: No Way Out (HKD 2.98 million), and The Moon (HKD 1.96 million).
The Strategic Value of the Hong Kong Market
With the highest per capita moviegoing rate globally in 2023, Hong Kong’s passion for cinema is clear. Its per capita GDP, which is higher even than South Korea’s, indicates not only strong consumer spending but also robust investment capacity within the film industry.
Given these factors, the <KOFIC Correspondents Report> identifies Hong Kong as a strategically vital and stable export market for Korean cinema. Moreover, success in Hong Kong could serve as a valuable springboard for Korean films aiming to re-enter the broader Chinese market. It’s a market worth watching, and one that deserves close attention moving forward.
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