President Yoon Suk-yeol highlighted the shrinking space for independent and art films amid the global success of K-content, stating that the 'ladder' connecting commercial and independent films has been severed. He emphasized the need for government support across production, distribution, demand, and investment to bridge this gap. He also announced a budget allocation of approximately 800 billion won for youth cultural arts vouchers in the upcoming year, indicating policies that creators can feel.
On September 7, President Yoon held a meeting with Korean filmmakers at the Mag Foundation in Saint-Paul-de-Vence, France, under the theme 'Next Scene: The Future of K-Content.' Attendees included directors Lee Chang-dong and Jeong Joo-ri, actors Jeon Do-yeon, Sul Kyung-gu, and Kim Do-yeon, as well as Kim Min-young, Vice President of Netflix Asia-Pacific Content.
The president emphasized that culture impacts a nation's image, international business expansion, and product competitiveness.
He also introduced a collaborative plan for Korea and France to establish a joint investment fund of 500 million euros each to invest in both countries' film and video industries, laying the groundwork for potential co-productions and further collaboration.
During the meeting, the achievements of Korean creators on the international stage and the positive reactions from overseas audiences were discussed. Director Lee Chang-dong reported that his film 'Possible Love' received a warm reception at its premiere at the Venice Film Festival the previous day, noting a significant interest from international fans in Korean actors.
Actor Sul Kyung-gu shared an unusual moment when over 100 journalists approached the stage for autographs after the official press conference at the Venice Film Festival. Jeon Do-yeon remarked that the attention 'Possible Love' received at a festival known for showcasing globally recognized works reaffirmed Director Lee's stature.
Director Jeong Joo-ri explained that after French audiences viewed her previous work, local producers proposed co-production. Her film 'Dora' began shooting with support from France's Arte and the Korean Film Council, involving a French crew working in Korea, with significant post-production taking place in France and Luxembourg.
Despite facing challenges related to language and climate in a multinational production environment that included Japanese actors, Jeong described the experience as a collaborative effort to complete a single film.
Kim Min-young attributed the global appeal of Korean content to creators' ability to authentically portray Korean stories and lives. She noted that the most Korean narratives resonate further with global audiences, and a balanced collaboration among creators, private enterprises, and the government fosters an ecosystem that enables new challenges and storytelling.
In response to a question about independent and art films, President Yoon diagnosed that while the Korean film industry has achieved significant external success, its internal ecosystem is weakening. He pointed out that while some major projects and well-known creators receive concentrated success, the foundation for independent films and emerging creators is diminishing.
The president stated that policies will be implemented for independent and art films that will be more tangible than previously imagined. He emphasized that the film and video industry not only enhances Korea's national image and boosts national pride but also yields significant public benefits, making it a highly efficient area for financial investment.
Director Lee Chang-dong expressed concern that the Korean film industry is in a 'structural crisis.' He explained that his film 'Possible Love' could not find domestic investors and was only produced through Netflix funding, highlighting the difficulties in the domestic film investment ecosystem.
While acknowledging that Netflix plays a crucial role in the film industry, he noted that there are still limitations in forming a complementary relationship with theatrical films. He mentioned that although Jeong Joo-ri's 'Dora' is receiving acclaim in France and is set for a co-production and release, there is currently no domestic release date scheduled.
Jeong added that both films were made with production support, which also implies that without such support, creating films would be challenging.
Regarding next year's budget, President Yoon explained, 'We have allocated about 800 billion won for youth cultural arts vouchers.' He stated that increasing youth participation in cultural activities, such as going to the movies, could expand opportunities for creators and artists.
He also expressed a commitment to reflecting on-site opinions in policy. 'Government authorities do not know exactly what is needed on the ground,' he said, adding, 'It is correct to say they do not know.' He urged cultural artists to actively propose necessary policies and budgets.
Director Lee suggested introducing France's private film investment tax incentive system to Korea. He referred to the 'SOFICA' policy, which encourages individual and private company investments in films through tax benefits, aiming to direct funds to works outside of major commercial films, including independent films and emerging directors' projects.
He explained this concept to Ryu Jin, chairman of the Korea Economic Association, and noted that if the government shows commitment, businesses would also participate actively. President Yoon responded, 'I will start right away when I return,' adding, 'I will let you know the results later.'
Director Jeong requested a follow-up meeting to discuss the survival crisis faced by creators in the film industry in the age of AI.
Concluding the meeting, President Yoon remarked, 'I feel that the opportunity for Korea has finally arrived. The whole world is looking at Korea,' asserting that 'the most Korean things are the most competitive.'
Earlier in the meeting, a scene reminiscent of a film set unfolded. President Yoon told Director Lee, 'I will do as you say,' before calling out 'Action!' and slating. When Director Lee remarked that the staff might struggle at first, the president quipped, 'I received praise.'
At the end of the event, President Yoon took out his phone to take a selfie with Director Lee. Actor Sul Kyung-gu also pulled out his phone, but when it wouldn't turn on, he used the president's phone, with Director Lee taking their picture. The president also took selfies with actors Jeon Do-yeon and Kim Do-yeon, joking, 'Just for my own sake. My wife told me to make sure to take some.' This elicited laughter from those present.
After the meeting, President Yoon attended the official luncheon of the Lumière Summit, which was attended by over 200 people, including French President Emmanuel Macron and his wife, cultural ministers from various countries, representatives from international organizations, and film and video industry leaders. He emphasized the importance of fostering cultural diversity through collaboration among attendees from diverse cultural backgrounds to shape the future of the film industry.
* This article has been translated by AI.
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