The problem to obtain financial support and screening time is a worldwide problem to all independent films. But in Korea some companies will try to change this situation.
A month ago ten different companies united as one under the name of Little Big Pictures. This partnership seeks to give fresh air and new opportunities for independent film makers. The Korean Film Industry is managed by a few film studios like CJ CGV, Lotte Cinema/Entertainment and Showbox/Mediaplex; which not only produce but distribute and exhibit films. The industry is so monopolized that this year 23 film investment and film production companies filed a case for damages against these four multiplex theaters chain.
The partners of Little Big Pictures have contributed with 50 million KRW each (USD 47,400) to a mutual fund. Their expectation is to attract more investors into their project to reach the 2 billion KRW (USD 19 Millions). Also they plan to produce three pictures per year.
Throughout 2013, Little Big Pictures have been funding different initiatives. In July they have invested 1.5 billion KRW (USD 1.425) in the “1st Busan Film Investment Cooperative Fund” with the Busan Film Commission (BFC). Later on this year this new partnership invested 100 million KSW (USD 95.000) in the “1st Korean Film Investment Cooperative fund”.
At a press conference held on October 21st Lee Eun, chairman of the Korean Film Producers Association and owner of Myung Films expressed his view on this partnership “…by establishing the public service-oriented distribution company Little Big Picture, we are hoping to lead the market towards a reasonable and impartial direction through fair profit and distribution.”
Who is behind Little Big Pictures?
- Myung Films – Owned by Jaime Shim and Lee Eun producers of:
Joint Security Area: JSA (2000)
Happy End (1999)
Cyarano Agency (2010)
Leafie, a Hen into the Wild (2011)
Architecture 101 (2013)
- Chungeorahm Film
The Host (2006)
26 Years (2013)
200 Pounds Beauty (2006)
Marine Boy (2009)
- Samgeori Pictures
Love Fiction (2011)
- Caper Film – Owned by Choi Dong-hoon and Ahn Soo-Hyun producers of:
The Thieves (2012)
- Filmmaker R & K - Owned by Ryoon Seung-wan and Kang Hae-jung producers of:
The Berlin File (2013)
The Face Reader (2013)
- Invent Stone Corp.
Boomerang Family (2013)
Weekly press magazine
- The Contents Company
Film right distributor