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Naman Ramachandran
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BA Entertainment South Korea‘s Ministry of Culture, Sports and Tourism and the Korean Film Council (KOFIC) have launched a public-private consultative body to negotiate a voluntary theatrical holdback agreement, aiming to finalize terms by August without waiting for pending legislation.
The committee – formally titled the Public-Private Consultative Body for Improving Korean Film Distribution Structure – held its inaugural session Friday in Seoul. The 22 participants included decision-makers from across the production, distribution, exhibition, TVOD and SVOD sectors, among them Lee Eun of the Korean Film Producers Association, Lee Hwa-bae of the Distributors Alliance, Shin Han-sik of the Korean Cinema Industry Association, and Yoo Yong-hwa, chair of the Korea IPTV Broadcasting Association. Culture Minister Chae Hwi-yong attended.
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