Beijing delegation seeks Korean co-ventures

The delegation also includes Hairun Pictures, HS Media Co, Goldsome Pictures, Forbidden City Film Co, October Days Culture Media Co and The Mirage Culture & Media. The Beijing International Film Festival (BJIFF) and Beijing Film Market (BFM), which are both organised by Beijing SAPPRFT, are also attending the market.

Zhao Zhiyong, assistant director of Beijing SAPPRFT and executive deputy secretary of BJIFF’s organising committee, said a major reason for attending the market is China’s growing interest in working with Korea.

“China’s film market has grown dramatically to become the world’s second largest box office territory,” Zhao said. “Due to the fast development, we have many needs related to financing, talent and technology across the entire film industry chain, giving rise to the trend of collaboration between China and the rest of the world. Korea is located close to China and possesses advanced technology in film production.” 

Zhao added that collaboration between China and Korea is already underway in several areas, including locations, talent, post-production, co-financing and co-production.

An official co-production treaty between China and Korea was signed this July, but the two countries have already produced many films together, such as Showbox/Huayi Brothers’ Mr Go, while Korea’s CJ Entertainment’s is producing Chinese-language films such as A Wedding Invitation.

A sequel to Korean hit My Sassy Girl, currently in production, will be the first official co-production under the China-Korea treaty. Korea’s Shinecine is co-producing with China’s Beijing Sky Wheel Media. Meanwhile, Korean companies often work on the VFX of big-budget Chinese films.

Several of the companies in the Beijing SAPPRT delegation say they are also seeking co-production with China. “Co-productions are already happening between China and Korea, but the recently signed treaty has raised interest even further, so we are also keen to explore opportunities in this area,” said Desen vice president of production and international affairs, Derek Huang.

Zhao is also hoping to build bridges on a government level. This year’s Beijing Film Market, which took place in April, hosted a delegation of 23 companies from the Korean Film Council (KOFIC) and National IT Industry Promotion Agency (NIPA).

“By holding a series of events in Busan, the Bureau wants to build a bridge between the two industries, and believes in the near future, the collaboration between the two countries will deepen and become more closer,” said Zhao.

Meanwhile, Desen is already working with Korea’s Macrograph on the VFX of its upcoming 3D fantasy adventure Zhongkui: Snow Girl And The Dark Crystal. “There’s another Korean company that we hope to build further relationships with on the services side – there is lots of potential for technical collaboration between China and Korea,” Huang said. 

Desen’s upcoming production slate also includes Annie Yi’s romantic comedy The Queens, which Easternlight Films recently picked up for international sales.

Galloping Horse, which has already sold John Woo’s The Crossing throughout Asia, will be introducing Zhang Yibai’s new project, nostalgic drama Cong Cong N Nian. Hairun Pictures is producing Larry Yang’s upcoming Mountain Cry with Village Roadshow Pictures Asia.