Hollywood Studios Targets Korean Market To Get ‘Catfish Effect’
The emergence of South Korean film caught the attention of different Hollywood studios and made them to foray and target the Korean market for a "catfish effect".
One of the latest films is "The Age of Shadows" which is directed by Kim Jee-woon, has dominated the local box office in South Korea. It has drawn an estimated of 2 million viewers within five days of its showing according to a market tracker.
Warner Bros. Pictures is one of the most prominent Hollywood studio in the world, produced the Korean historical film "The Age of Shadows." It was a pleasure and honor for the local film market in Korea because they had the opportunity to work with big Hollywood studios.
Another Hollywood-produced film entitled "The Wailing" also garnered a total of 7 million viewers in South Korea. It was released earlier this year and produced by 21st Century Fox International Productions, which is one of the largest motion pictures distributors and producers in the world.
According to some industry insiders, there is a possibility of huge arrival of Hollywood funds that will result to a "catfish effect." The so-called catfish effect is about motivating the effects of strong competition form the weaker one. It narrates how groups are motivated when a strong competition was added.
According to a movie critic Jeon Chan-il, the increasing appearance of Hollywood studios in South Korean film market was a good sign for further growth and development of Korean films.
"I positively view this trend as it can diversify sources of investment in Korean films. Although the Hollywood investment may be concentrated on relatively high-quality directors and film projects, they will likely be far more aggressive than local investors," Jeon said.
Many people hopes for the success of the Korean film industry and wishes to attract more investment from Hollywood studios to South Korean films. Moreover, the advancement of Hollywood firms into the local markets in South Korea has influenced the production of Korean films.