Mid-budget Korean films dominate July box office, defying summer blockbuster trend

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This photo provided by Plus M Entertainment shows actors Koo Kyo-hwan (L) and Lee Je-hoon as Hyun-sang and Gyu-nam, respectively, in the Korean action-drama film “Escape.” (PHOTO NOT FOR SALE) (Yonhap)

70 percent of moviegoers in July chose to watch mid-budget Korean films, a government report showed Thursday, challenging the conventional belief that big tentpole blockbusters dominate the summer box office.

According to a monthly report on the Korean film industry by the Korean Film Commission (KOFIC), the number of viewers of Korean films reached 5.62 million last month, a 69 percent increase from the previous year and 8.2 percent above the 2017-19 pre-pandemic average of 5.2 million.

Korean films like “Handsome Guys,” “Escape” and “Pilot,” each needing around 2 million viewers to break even, performed strongly, thanks to compelling storylines and talented ensemble casts. In July, Korean films generated box-office sales of 53.4 billion won (US$40 million), marking a nearly 70 percent increase from 31.6 billion won the previous year.

In contrast, Hollywood blockbusters underperformed, with Disney-Pixar’s “Inside Out 2″ being a notable exception. Foreign film viewership dropped 41.5 percent to 6.41 million, compared with 10.9 million the previous year.

July’s total admissions reached 12 million, down 15.7 percent year-on-year and at 57.3 percent of the 2017-2019 pre-pandemic average of 21 million.