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Growth of the South Korean Film Industry

Statista logo Statista 2/10/2020 Statista

The South Korean film “Parasite” took home multiple Academy Awards on Sunday, including the first-ever “Best Picture” award received by a foreign film. The wins highlight a rapidly growing film industry in South Korea that is gaining more worldwide recognition.

Box office revenue for films made in South Korea has skyrocketed over the last decade and a half. In 2004, the country produced a total revenue of 440 billion South Korean won – or roughly $370 million in U.S. dollars. For 2019, the total revenue was 1.91 trillion South Korean won – or roughly $1.61 billion U.S. dollars. While that’s still short of the $11.3 billion U.S. film industry, it's certainly a significant portion of the global $42.5 billion film industry.

Over half of the total box office revenue in Korea was collected by domestic films, with nearly 1 trillion South Korean won coming from the South Korean film industry in 2019.

Government and culture initiatives in South Korea have played a large role in amplifying cinema in the country, with more films releasing globally than ever before. The country now has one of the five largest film industries in the world, trailing the U.S. and China and on-par with Japan and the U.K.

This chart shows the total box office revenue in South Korea between 2004 and 2019 (in trillion South Korean won).

a close up of a map: south korean film industry rapid growth © Provided by Statista south korean film industry rapid growth

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