Korean businesses, especially TV and film producers and broadcasters, are highly sensitive to “real” world events or news about their actors or subject matter of the work as it plays to the general audience at any given time. Yonhap News reported this week, the movie “Virus” is set for its commercial box office release. The film features a fictional contagion with a critical twist: It induces overwhelming happiness and instant love in its victims. While it might sound appealing enough for many to want the infection, the virus is ultimately fatal. The film stars Bae Doo-na, Kim Yoon-seok, and Chang Ki-ha. This film concluded its production in late 2019, shortly before the global COVID-19 pandemic began in full swing. Consequently, the film was shelved for five years.
And the timing of “Virus’” release is also bad. The prime late winter box office season (late Nov to mid-Feb) ended in lackluster fashion with big movies like HARBIN and MICKEY 17 failing to draw big crowds (or make a profit). It was also reported this week that South Korean movie theaters experienced a sharp decline in attendance and revenue in March, as the lack of a major hit resulted in a failure to draw crowds. According to the Korean Film Council, local cinemas sold 6.44 million tickets in March, down 45 percent, or 5.26 million tickets, from the previous month.
And in a strange twist, this week it was reported that MBC may purchase the rights to Disney+ produced K-drama BIG BET (Korean title Casino) which aired in 2022. However, MBC’s internal production staff has objected to the move which would adversely impact its own studio production. This move is the reverse of past practice where networks would produce and air original shows then license them to streaming platforms.
