22 Leaders in Film Industry Discuss Holdbacks; Choi Hwi-young Calls for Compromise

"As this dialogue has been difficult to establish, we must create meaningful outcomes. Your determination and compromise are both necessary," Choi Hwi-young, Minister of Culture, Sports and Tourism, stated during the inaugural meeting of the 'Public-Private Council for Improving Korean Film Distribution' held in Jung-gu, Seoul, on May 29.
Choi expressed hope that with key figures from the film industry gathered, they could engage in meaningful discussions to achieve a balanced revenue structure and a healthy ecosystem, urging participants to share their perspectives openly and listen to one another.
The newly launched council includes 22 influential decision-makers with substantial impact across the entire film distribution process. Participants include Choi, Yoon Sang-hyun, CEO of CJ ENM, Kim Jong-yeol, CEO of Lotte Cultureworks, Lee Eun, representative of the Korean Film Producers Association, Jeong Jong-min, CEO of CGV, and Nam Yong-seok, CEO of Megabox, among others, representing various sectors of production, distribution, and exhibition, as well as TVOD and SVOD.
The council was established under government leadership to normalize the revenue structure of Korean cinema amid a rapidly changing industry landscape and to foster a cooperative ecosystem between theaters and online video services (OTT).
During the meeting, Choi emphasized the importance of voluntary agreements within the industry. He noted, "The council is the starting point for efforts to restore the revenue structure and cooperative ecosystem of Korean cinema. I hope sustainable solutions can be achieved through voluntary agreements rather than regulations imposed by the government." He added that the government’s role is to facilitate discussions and provide support, ultimately hoping that the industry will take the lead in creating sustainable rules.
The council plans to sequentially discuss the establishment of a voluntary agreement regarding appropriate holdbacks (the grace period before films are shown in additional markets after theatrical release) and the industry's demands for improving the exhibition environment.
However, significant differences in perspectives among stakeholders are expected to lead to challenges in future discussions. For instance, while the theater industry demands institutional measures to guarantee a certain holdback period to prevent audience attrition, producers and distributors oppose uniform regulations citing the need to recover investments.
Choi reiterated the importance of industry cooperation to sustain the recovery of the film sector. "The heart of the film market has begun to beat again," he said, emphasizing that creating a normal and healthy ecosystem is our ultimate goal. He urged all parties to bring the next challenges to the table and collaborate to ensure the revived spark does not extinguish.



* This article has been translated by AI.

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