3. GLOBALISATION AND NEW KOREAN CINEMA

Abstract

South Korean cinema has undergone remarkable growth over the past decade. By substantially improving technical and aesthetic qualities, and by responding to the sensibilities of contemporary Koreans, recent Korean films have distinguished themselves from their predecessors. In so doing, they have rapidly been winning back the hearts of those previously estranged domestic audiences who had once preferred foreign films with better production values, particularly those from Hollywood. With Korean films now capturing almost 50 per cent of domestic market share, and some local hits beating even the most lavish Hollywood blockbusters at the box-office, Korean cinema is currently enjoying unprecedented domestic success. Equally remarkable is the fast-growing popularity of, and interest in, Korean cinema around the globe. With numerous successes at major overseas film festivals and growing international distribution and consumption, recent years have seen a notable rise in Korean cinema's visibility in the international film world. Yet, while contemporary Korean cinema is rapidly drawing attention around the world, its popular success is perhaps most apparent in neighbouring East Asian countries where there has been a veritable surge of interest in Korean popular culture, including films, television dramas and popular music. Indeed, the revenue from film exports alone has grown tremendously, from $0.21 (US) million in 1995 to $11.25 million in 2001 (Kim and Kim 2002: 15). This is an impressive accomplishment especially when considering that, only a decade ago, the South Korean film industry was in severe decline.