Korean movies are going through a crisis, not only in television but also in cinema. The number of films invested in production or broadcast has decreased, leading to a situation of unemployed staff and actors. Many actors admit that the current shortage of scripts is something they have never seen in their many years of working.
Unemployment worries of Korean actors
Xports News reported that top stars who once dominated Korean movies during their golden age are also shedding tears at the changing situation of the industry. The number of movies in Korea is decreasing. Even projects that are scheduled for production later find it difficult to broadcast. One of the reasons is the influence of the OTT wave, according to Xports News.
Regarding this issue, many top Korean stars admitted that they do not have a job.
In a video on his personal page, actor Lee Jang Woo expressed that he really wanted to act in a movie. However, currently, he is in a situation where he has no script to receive. Therefore, the actor believes that he needs to lose weight, work hard and be ready to accept all types of roles.
The actor added that the Korean domestic film market is deteriorating. He emphasized: “Currently the film scene is very chaotic.” Lee Jang Woo also pointed out that weekend dramas are increasingly decreasing in viewership ratings.
Lee Jang Woo was once a familiar face on Korean screens. He even had the movie My Only One achieve a rating of 48.5%.
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Lee Jang Woo, Kim Ha Neul and Han Ye Seul all admitted that the amount of scripts they receive is currently very limited. Photo: Hunus Entertainment, IOK Company, ZUM. |
In a newly aired JTBC program, actor Kim Ji Seok also expressed his worry and disappointment when he did not receive any job offers.
“This situation has never happened before. I feel nervous and worried because I cannot film even one project this year. I heard that other actors filmed 6-7 projects last year but I I only filmed 1. I don’t care even if I only get a supporting role. I just want to do a project and continue my work as an actor,” he said.
Unemployment is a common situation for many actors, even famous stars like Han Ye Seul or Kim Ha Neul.
“I wanted to participate in a project but didn’t receive any invitations. To be honest, I am increasingly worried about my future path. I even went to skin care school to get a certificate and was able to work a part-time job,” Han Ye Seul said nearly.
According to Maekyung, on March 11, Kim Ha Neul participated in MC Shin Dong Yup’s program. Here, the actress who won the 32nd Blue Dragon Award thanks to the movie Blind said that in the past she received so many movie invitations that she always had to refuse with the excuse of wanting to rest. But now, the number of movie offers for her has decreased so much that Kim Ha Neul feels that each script is very precious.
Actress Oh Yoon Ah also emphasized that the size of the television drama market has decreased to half compared to its peak. Therefore, it is very difficult for movies that have finished filming to find a broadcast time.
The period of stagnation lasted
Not only the television segment, Korean cinema has also faced a crisis from the beginning of 2022 until now.
Sisaweek reported that according to data released by the Korean Film Council on February 28, total revenue in January was 74.7 billion won (about 56.8 million USD) – a decrease of 39.8% (49.4 billion USD). won) compared to the same month last year. Total viewers in January were 7.75 million, down 31.1% (3.5 million) compared to the same month last year. Spring in Seoul (exceeding 10 million viewers) or Noryang: Sea of Death are rare bright spots.
However, what is worrying is that no film has yet succeeded in following the box office success of Spring in Seoul. Noryang: Sea of Death’s performance is positive but still lower than expected, Korean media said.
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Negotiation directed by Lim Soon Rye and starring Hwang Jung Min and Hyun Bin only attracted 1.7 million viewers. Photo: News1. |
There are rumors spreading among Korean filmmakers that “the number of films invested in by major distributors in 2024 will be cut in half”. “No investor or distributor is willing to look closely at the recent scenarios,” a source told Ilyo. They cannot invest unless you are a famous director or actor who guarantees box office success.”
CJ ENM CEO Koo Chang Geun denied reports of stopping investment in movies, but he admitted that cuts were unavoidable.
Not only theatrical movies but also domestic OTTs such as Wave, TVING and Watcha also reduced investment in movies. The reason is that these companies continuously face large losses. The irony right now is that foreign OTT is the last hope of Korean filmmakers. However, both Netflix and Disney+ are said to have reduced the number of products compared to last year.
From 2022, filmmakers begin to feel a decline in film production. From then on, Korean films continued to fail, and the number of audiences going to theaters decreased significantly, Ilyo assessed. Just like that, the decline of Korean films continues until 2023. Only 7 films will exceed break-even in 2023.
In particular, before The Roundup: No Way Out (Crime City 3) was released and saved Korean cinema, no film in the country was able to break even for half a year, since The Owl was released in November. /2022.
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| The Roundup: No Way Out is a highlight of the Korean box office recently. Photo: Naver. |
The number of films produced will decrease significantly in 2023. Isplus said that in 2023, experts expect theatrical films to completely escape the shadow of Covid-19. However, in reality, the number of moviegoers going to cinemas in 2023 dropped below expectations. “2023 is the most difficult year since I entered the film production field,” an expert told Ilyo.
Not only actors who are considered stars representing Korea such as Song Kang Ho, Ha Jung Woo, Sol Kyeong Gu but also the most famous directors such as Choi Dong Hoon, Kim Yong Hwa, Kang Je Gyu and Kim Ji Woon also constantly faces difficulties. People who work in the film industry, regardless of the field such as production and marketing, say: “It’s not the same anymore.” The box office formula used before the Covid-19 pandemic has been broken and audiences’ movie viewing behavior has also changed.
Why is the film and television drama industry, which has helped Korea stand strong as a “content powerhouse”, in trouble?.
Answering the above question, a film industry official told Ilyo: “Investment money has decreased due to the impact of high interest rates. In addition, after Covid-19, only a few films were successful at the box office and most were heavy failures.”
In addition, director Kang Je Gyu commented that the audience’s standards are increasingly strict while movie ticket prices are increasing. Therefore, directors must also be very strict in their criteria for selecting works. The development of foreign OTT also changes the movie viewing habits of audiences. Instead of going to theaters, they choose to stay home and watch movies on OTT platforms to save money and time.
What will the Korean film industry look like in 2024?.
Most filmmakers believe that recovering the film industry will be difficult. One expert told Ilyo: “I don’t think it will be easy for film production staff to find jobs in 2024. Competition for jobs is becoming fiercer. It seems that the film industry is still very far from seeing ‘spring’ again.”
According to Khan newspaper, at the end of February, the Korean government announced the first regular investment project plan for 2024. The total scale of the fund established this time is 65 billion won (49 million USD). The government’s policy aims to revive the domestic film industry, which has been stagnant since the pandemic.