Ministers from both countries have signed an agreement that will strengthen and increase cinema industry.
The negotiations to establish and strengthen the cinema industry between both countries were initiated in mid 2011, but it wasn’t until July 2013 that they elaborate a more define project. After the visit of the Chinese president Xi Jingping to South Korea, the negotiations were accelerated.
During a meeting the minister Yoo Jing-ryong, of the Ministry of Culture, Sports and Tourism (MCST), and the minister Cai Fu Chao, of the China´s State Administration of Press, Publication, Radio, Film and Television signed the “Agreement Between the Government of the Republic of Korea and the Government of the People´s Republic of China Concerning the Co-Production of Films”
With this agreement both countries seek to define and regulate the approval of projects, rules, regulations, and technical cooperation for co-productions. This will also allow co-productions to be treated as Chinese productions allowing films to get more time on screens since restrictions for foreign films will not apply.