Why are Korean celebrities handpicking, importing foreign films despite losing money?

“Infinite Challenge” producer Kim Tae-ho announced that his company is expanding into the film distribution business, as he took the stage at a press screening for Hollywood film “The Drama.”

“It’s my first time speaking before an audience at a movie theater,” said Kim, who is the founder and head of content production company TEO, during the film's press screening at Megabox in Coex, southern Seoul.

“We decided not to limit our content to videos, but to try our hand at dramas and films, and anything else that can leave audiences with good memories.”

So far, TEO has mainly produced entertainment shows for television, streaming platforms and YouTube, including “Earth Marble World Tour,” “Seoul Check-in” and “Salon Drip.” However, the company recently formed a partnership with Waterhole Company, a film distributor that has brought titles such as “Everything Everywhere All at Once” and “Demon Slayer: Kimetsu no Yaiba — The Movie: Mugen Train” to Korean audiences.

For TEO’s first film distribution project, Kim chose “The Drama,” which has drawn attention for casting Hollywood stars Zendaya and Robert Pattinson as a couple preparing to marry. With its release scheduled for Sept. 9, Kim has been devoting considerable effort to its promotion as he expands his reach into the film industry.

Kim is pursuing a business endeavor a growing number of celebrities are also exploring — discovering foreign films and bringing them to Korea. The Canadian comedy “Nirvanna the Band the Show the Movie,” released in theaters in May, is one such example. It was the first film imported and distributed by BDNS, a content production company founded by comedian Moon Sang-hoon and others.

The company said it visited film markets in Cannes, Los Angeles and Hong Kong in search of a good comedy before ultimately choosing “Nirvanna the Band the Show the Movie.” Despite being a low-budget independent film, the movie proved successful, drawing 98,000 theatergoers, nearly reaching the company’s target of 100,000 and sailing well past its break-even point.

Actor Jung Il-woo is another celebrity figure involved in importing foreign films. He participated in the domestic import and distribution of the American horror film “Together” last year and also invested in bringing the Norwegian film “Sentimental Value” to Korean theaters this February. When the film received nine Academy Award nominations in March, including best picture and best director, Jung also found himself in the domestic spotlight.

“I think it would be meaningful if I could help good films reach Korean audiences,” Jung said of his investments, adding that he chooses foreign films based on whether they move him personally.

The biggest celebrity name in film investment is So Ji-sub. Since 2012, he has invested through his entertainment agency, 51K, in Challan Film Company, which imports and distributes foreign films. He has also participated directly in selecting which films to bring to Korea.

The dozens of films he has helped import over the years include “Attila Marcel,” “Hereditary” and “The Zone of Interest.” He has said in several interviews that importing films is “a money-losing business,” but that he continues because he wants “to lend support behind the scenes so that good films can be shown in Korea.”

The expansion of content industry figures into film distribution is also a positive sign for the film industry. It can bring a more diverse range of films to Korean audiences, while the involvement of celebrities gives the titles an advantage in promotion.

“They are likely to select films from perspectives different from those of people already working in the film industry. That could attract new audiences and benefit the industry as a whole,” said Lee Hwa-bae, who heads a coalition of film distributors. “I am also very curious to see which films they choose next.”

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.