Korean films are struggling in the summer blockbuster race as Hollywood titles dominate the box office and local productions fail to gain traction. Three Korean releases this summer, including Hope, have drawn far fewer viewers than the major foreign hits. The article says the weak investment climate after the pandemic has made big-budget Korean films harder to produce. It also warns the slump may continue beyond this summer.
A scene from"Okay! Madam 2"/ Courtesy of CGV Pictures
Moviegoers flocked to theaters this summer. “Spider-Man: Brand New” had drawn 8.29 million viewers as of Aug. 27, while “The Odyssey” attracted 7.2 million. With “The Odyssey” showing no signs of slowing down, it is highly likely to surpass the 10 million mark. That will make it the first film to draw more than 10 million viewers here during the summer, traditionally considered peak moviegoing season, since August 2018 when “Along With the Gods: The Last 49 Days” attracted 12.27 million viewers after its release.
The number of moviegoers surged in July and August as well. As of Aug. 27, 28.42 million people had visited theaters, up 3.38 million from the 25.04 million who did so during the same period last year. In other words, Korean theaters are enjoying a genuinely lively summer for the first time in years. For theaters that have endured a brutal slump since the COVID-19 pandemic, they must feel like bowing down in gratitude to the two Hollywood films driving the box office.
