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May 24, 2005
S. Korea: You can't compete against Hollywood without bigger markets
The Reporter dissects the stats on one of Asia's most interesting markets, South Korea: "While Korean films have been booming for nearly six years, exploding budgets and intense competition have made profitability increasingly elusive. Without exports, the Korean movie industry would have lost more than $20 million in 2004. "You have to look at Asia for survival—you need the bigger market," says Esther Koo, VP at Hong Kong's Applause Pictures, which has, since its inception in 2000, focused on building up the film business throughout the region. "Look at what happened to Hong Kong a few years ago; the same thing could happen to Korea. You can't compete against Hollywood without bigger markets."
Posted by at May 24, 2005 04:48 AM
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