Jun 2016 VOL.62


  • Slow Video, Second Korean Film by 20th Century Fox
  • by JUNG Yu-mi / 09.05.2014
  • The Hollywood studio set out to test the Korean film market with a commercial film

    A press conference on production of the film Slow Video was held at CGV Apkujeong on August 28th. Director KIM Young-tak, lead actors CHA Tae-hyun, NAM Sang-mi and OH Dal-su spelled out the production process of the film prior to its release. The film was produced by Our Joyful Young Days Film Co. and Fox International Production Korea and will be distributed by 20th Century Fox Korea. Fox International Production experienced investment in and production of a Korean film through Running Man and began to make a foray into the Korean film market on a full scale through Slow Video. Therefore, Slow Video is a hot issue in the Korean film industry.
    Slow Video Brings KIM Young-tak, CHA Tae-hyun and GO Chang-seok of Hello Ghost (2010) Together
    Yeo Jang-bu (CHA Tae-hyun) with very special talent called dynamic visual acuity is the hero of the film. Dynamic visual acuity is a visual capability to recognize a quick move of an object that cannot be felt by ordinary people. The subject matter has been unprecedented in Korea. This ability made YEO a target of bullying when he was a young boy. But YEO began to display his talent at a CCTV control room, coming out into the world. Another subject matter, CCTV comes across as different from images of CCTVs in other films. Before, CCTVs were a tool to monitor and check other people’s privacy. But in Slow Video, CCTVs are eyes of interest and a communication tool. Slow Video was directed by KIM Young-tak who became a dark horse of Korean cinema by making Hello Ghost which drew over three million spectators in 2010. Synergies are expected out of the combination among director KIM Young-tak, CHA Tae-hyun and GO Chang-seok who teamed up in Hello Ghost. “The subject matters of dynamic visual acuity and CCTV came over to me as fresh and attractive,” KIM said. “I want to tell spectators that it is okay to have a slow life from time to time.” People are showing interest in whether or not Slow Video will repeat the success of Hello Ghost which surprisingly performed greatly at the box office in a slow season.

    20th Century Fox Is Ready for Korean Film Market

    Another interesting point of Slow Video is its production studio. This film is the second investment in a Korean film by 20th Century Fox, a major Hollywood studio. The Hollywood studio signaled its entry into the Korean film market by way of its main investment in Running Man in 2013. “Fox began to have interest in investing in and distributing local films in overseas markets such as India and Mexico,” said Sanford PANITCH, head of Fox International Productions. “In 2010, Fox jointly invested in The Yellow Sea, a NA Hong-jin film. We will begin to invest in Korean films on a full scale with Running Man as its beginning.” PANITCH said, sketching out a plan to make inroads into the Korean film market. 20th Century Fox set its sight on producing a low-budget experimental action film as it was its first main investment project Running Man. But the second project Slow Video is characterized by the fact that it is a commercial film that can satisfy the taste of Korean moviegoers. “While Running Man is an experimental project, we will appel more strongly to Korean audiences through Slow Video,’ said a spokesperson at 20th Century Fox, showing a confidence in the success of the film. Moreover, “Korean films enjoy a big chunk of the Korean film market,” the spokesperson said, expressing Fox’s intention to make inroads into the Korean film market.
    Eying Fast Growth of Korean Film Market
    When releasing Running Man, PANITCH mentioned Korean films’ high market share as a ground for Fox’s plan for its advancement. “It is quite interesting that Korean films have a big market share and outfox Hollywood films in Korea,” PANITCH said during an interview at that time. “Therefore, we will spur our expansion in both markets by doing our distribution business and direct investment in production of Korean films.” It is also analyzed that the fact that the portion of the Korean film market is expanding in the world film market prompted 20th Century Fox’s full-scale entry into the Korean film market. At present, the Korean film market is the tenth largest in the world. The expansion of the Asian film market is faster than the reduction of the North American film market. Hollywood’s strategy to premiere its blockbusters in Korea and China earlier than the North American market indicates the fast growth and size of the Asian market. Direct entries into the Korean market by Hollywood studios including 20th Century Fox already began. UIP made direct investment in Thirst, a PARK Chan-wook film and 20th Century Fox began to engage in production of Korean films through The Yellow Sea. In addition, 20th Century Fox decided to invest in Gokseong, the next work of NA Hong-jin. The filming of Gokseong already began. 20th Century Fox’s first attempt, Running Man drew 1.4 million spectators which were close to its break-even point. If and when Slow Video to be released on October successfully appeals to Korean viewers as expected by 20th Century Fox, there will be more investment in Korean films by major foreign investors and distributors.  
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