NewsLetter DailyWeekly
My HanCinema | Sign up, Why ? Your E-mail   Password    Auto| Help
HanCinema :: The Korean Movie and Drama Database, discover the South Korean cinema and drama diversity Contact HanCinema HanCinema on TwitterFaceBook HanCinema PageHanCinema on Twitter

Film Sector to Get W400 Bln in Aid

2006/01/27 | 123 views | Permalink | Source

Culture and Tourism Minister Chung Dong-chae says the domestic film industry will receive financial support of 400 billion won over the next five years.

In a news conference Friday, he said the first 200 billion won will come from state coffers from 2007 over two years to raise the industry's competitiveness and foster it as a new core sector.

The government announced Thursday that it will halve the domestic screen quota from July from 146 days a year to 73.

The remaining 200 billion won will come from revenue generated from a five-percent tax on movie tickets from next year.

The subsidies are expected to help improve the investment and production environment of the domestic movie industry through strategic centers promoting South Korean films.

Chung said the ministry also wants to ensure fair profit distribution for film studios, distributors and theaters, and to overhaul film promotion regulations including new tax breaks for earnings from film production investment.

Reported by KBS WORLD Radio

Attention You're reading the news with potential spoilers, make them spoiler free, dismiss



 Previous news
  • Filmmakers Blast Gov't's Film Aid Plan
    2006/01/27 (Source)
    The domestic film industry has blasted the government's follow-up measures on the planned cut of the screen quota.

    Committee for the Protection of the Screen Quota Chairman Yang Ki-hwan and other filmmakers hit the Culture and Tourism Ministry's plan to provide subsidies to the movie industry "no,...

  • Musical "Jekyll & Hyde" Wins High Acclaim
    2006/01/27 (Source)
    The musical "Jekyll & Hyde" starring Cho Seung-woo opened at the Opera House of the Seoul Arts Center on Jan. 25. Cho appeared again in the musical after his previous performance, the musical's 2004 premiere in Korea, which sold out completely.

    In the musical, based on the original novel written ,...

  • Actor Jang Dong-gun to Meet Fans at Ten Theaters in Seoul
    2006/01/27 (Source)
    Top star Jang Dong-gun will say hello to his fans onstage at ten theaters in Seoul.

    The lead actor of the fantasy film "The Promise", directed by Chen Kaige and released on Jan. 26, Jang will greet his fans onstage at a total of ten theaters in Seoul on Jan. 28, the first day of the lunar New Yea,...

Subscribe to HanCinema Pure to remove ads from the website (not for episode and movie videos) for US$0.99 monthly or US$7.99 yearly (you can cancel anytime). The first step is to be a member, please click here : Sign up, then a subscribe button will show up.


Remove ads

Sign up




Visible, hide

Learn to read Korean in 90 minutes or less using visual associations