By Lee Hyo-won
Korean Film Council (KOFIC) suggested Tuesday that cinemas and distributors employ a contract that would ensure a minimum screening period for films and alter the proportion of profit shares.
However, the announcement stops short of being a recommendation and the government-supported film body would not impose sanctions should the contract be broken.
KOFIC nevertheless said it aims to provide a platform for small budget or independent works that receive little exposure in theaters due to irregular screening schedules and monopolization by big budget movies.
The recommendation states that cinemas and distributors should ensure films a screening period of at least one week upon signing contracts.
As for alternating the screening of two or more films on one screen, distributors would receive an incentive: distributors would be entitled to either a twofold screening period or an additional 10 percent of the original premium.
KOFIC has also suggested changing the proportion of profit shared between distributors and cinemas: thus far the share had been 5:5 for local films and 6:4 for imported works in Seoul (5:5 for cinemas outside the metropolis). The proportion should be changed to 5.5:4.5.
The contract also entails a sliding system that prevents Hollywood films from monopolizing the market. Under this system, production and distribution companies would receive an increasingly smaller proportion of the ticket sales.
KOFIC said that it is looking into offering theaters incentives should they adhere to the contract.
Despite positive intentions the recommendation is expected to have little effect on the market. Four major multiplex franchises — CGV, Lotte Cinema, Primus and Megabox — account for 77 percent of screens and 90 percent of sales.
1 | Korea to expand visa benefits to accelerate inbound tourism |
![[REVIEW] Musical 'Monte Cristo' returns with riveting tale of vengeance, love](https://img.koreatimes.co.kr/upload/thumbnailV2/3934be1fa6844478b619a015d610bc5b.jpg/dims/resize/178/optimize)
![[INTERVIEW] How AmazeVR revolutionizes aespa's LYNK-POP concert](https://img.koreatimes.co.kr/upload/thumbnailV2/4431833759c44bdaa414cb314e90f2fe.jpg/dims/resize/178/optimize)
![[INTERVIEW] Meet the man behind giant rubber ducks that once took over Seoul](https://img.koreatimes.co.kr/upload/thumbnailV2/df32c60c8204448e98ccdb9841366bec.jpg/dims/resize/178/optimize)
