Revenue for local film industry from Jan. to Nov. surpasses 1 trillion won

The logo of Korean Film Council [KOFIC]

The accumulative revenue for the Korean film industry from January to November this year surpassed 1 trillion won for the first time since the Covid-19 pandemic.

According to Korean Film Council on Thursday, the total revenue for 11 months recorded 1.26 trillion won.

Starting with “The Roundup” this May, blockbuster films such as “Top Gun: Maverick,” “Hansan: Rising Dragon” and “Confidential Assignment 2: International” consecutively released contributed to the increase in the revenue.

Compared to last year’s 11 months, the revenue increased by 100.5 percent, or 502.5 billion won.

From January to November this year, a total of 98.63 million moviegoers visited local theaters, a 89.6 percent increase compared to the year before. Compared to 2019 (prior to Covid-19) during the same period, the revenue has recovered by 48.3 percent.

The total revenue for Korean films from January to November this year recorded 578 billion won, a 254.7 percent increase, or increase of 415 billion won compared to last year. Compared to 2019 during the same period, the revenue has recovered by 66.2 percent.

More moviegoers are expected to flock to theaters thanks to the releases of “Avatar: The Way of Water” and director Yoon Je-kyun’s “Hero” on Dec. 21.