Netflix may be rewriting rules for Korean cinema with 'Possible Love'

Director Lee Chang-dong’s first new film in eight years, “Possible Love,” will be released in theaters before its Netflix release. Courtesy of Netflix

Lee Chang-dong’s seventh film, "Possible Love," has been confirmed for a theatrical release, a surprising turn from widespread expectations that it would debut on Netflix.

Industry observers believe the move was made with major international film festivals in mind, given Lee’s long-standing reputation as one of Korea’s most acclaimed directors on the global stage.

According to the Korea Media Rating Board, "Possible Love" received an adults-only rating for directly portraying nudity and sexual acts while depicting the lives of laid-off workers, as well as themes of love, loss, trauma and the restoration of human relationships.

"Possible Love" is Lee’s first film in eight years and stars Jeon Do-yeon, Sol Kyung-gu, Zo In-sung and Cho Yeo-jeong. It follows two married couples leading completely different lives whose chance encounter sets off a series of emotional entanglements. With a running time of 164 minutes, it is the longest feature Lee has directed.

The project was originally conceived as a theatrical release before shifting to a Netflix-backed production while seeking financing. Netflix has now opted for a theatrical release in the third quarter of this year, followed by its global debut on the streaming platform in the fourth quarter.

The strategy is not unprecedented for Netflix. The company has previously given theatrical releases to prestige titles including "Roma," "The Irishman," "Glass Onion: A Knives Out Mystery" and "Frankenstein" before making them available on its streaming service.

One reason is awards eligibility. To qualify for the Academy Awards, a film must first be publicly released in its country of origin and complete a qualifying theatrical run of at least seven consecutive days. A theatrical release also helps generate buzz around Netflix originals before they arrive on the platform.

Such a rollout, however, remains rare for a Korean Netflix-backed film. Bong Joon Ho’s "Okja" set the precedent in 2017, but most Korean films produced by Netflix since then have been released exclusively on the platform. Netflix’s decision to give "Possible Love" a theatrical release therefore suggests confidence in the film’s festival and awards prospects.

It also helps that Lee is a director with strong international recognition. He has earned acclaim for previous works including "Green Fish," "Peppermint Candy," "Secret Sunshine," "Oasis," "Poetry" and "Burning," several of which earned invitations to major international film festivals.

Expectations are also high because Jeon Do-yeon, who won Best Actress at the Cannes Film Festival for "Secret Sunshine," reunites with Lee in "Possible Love."

Another reason behind Netflix’s decision is the weakening divide between streaming platforms and theaters. In the early days of streaming, the relationship between streaming platforms and the theater-based film industry was often tense, according to industry insiders. But that friction has become largely a thing of the past, as streaming platforms have emerged as an important pillar supporting the broader film industry.

Netflix’s "KPop Demon Hunters" demonstrated last year that original content from streaming platforms can be just as competitive and far-reaching as conventional theatrical films, drawing awards attention and making an impact on the international festival circuit. Netflix has also been actively releasing select titles in theaters to meet festival and awards eligibility requirements while building wider buzz.

For Korea’s film industry, Netflix’s decision on "Possible Love" offers a glimpse of hope and a breath of fresh air at a time when creators increasingly feel squeezed by shrinking investment, fewer projects and declining audiences. Streaming platforms have already become a major stage for directors and actors, offering the advantages of a relatively stable production environment and global distribution.

For Korean cinema, the still-unusual combination of theatrical and streaming releases may eventually settle into a new industry norm.

This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI system and edited by The Korea Times.