The Korean Film Council (KOFIC, Chairman Kim Eui-suk) is to install and run an information center for Korean Cinema during the 2013 FILMMART, the biggest film market in Asia located in Hong Kong.

 

Named the Korean Film Center, the venue will be where KOFIC supports Korean film sales and Korean film technical service firms from March 18th to 21st.
 
There will be a total of 20 companies participating, such as Korean film international sales companies, technical service companies specialized in VFX, sounds and 3D as well as production firms and film festival representatives.

 

The center will be the place for meetings of Korean films deals, counseling post production orders and other meetings regarding Korean films in overseas markets.

 

KOFIC has been grabbing overwhelming attention from Asian buyers, especially ones in Greater China, and industry people with its annual installation of the center of FILMMART. The number of participants will reach its highest level this year, proving Korean cinema’s top status around the world.

 

The KOFIC staff in charge of joint international production will be residing in the co-lounge and conducting consultations. KOFIC’s Location Incentive for foreign video products centered in Greater China and other Asian market is already in high demand, receiving a flood of meeting requests and inquiries.

 

The Location Incentive is the policy which aids part of the production costs of foreign video products shot in Korea, for foreign feature films or television drama series produced by foreign production firms and invested by foreign capital for over 80% of their production budgets.

 

The audio-visual works which spend over 100 million KRW (approx 90 thousand USD) in Korea are applicable, and can expect up to a 30% cash grant on their production costs.

 

“Through our participation in Hong Kong’s FILMMART, we are expecting to raise Asian buyer’s interest in Korean film technical companies and Korean film rights purchase towards a positive outcome,” Chris KIM in KOFIC’s International Promotion Department Global Marketing Team said, inviting expectations of sunny results for Korean technical services firms.