Summer Box Office in Dramatic Shift: Smaller Films In, Major Blockbusters Out

연합뉴스 / 2024-06-20 09:46:35

▲ A poster of upcoming film "Project Silence," starring late actor Lee Sun-kyun, is seen in this photo provided by CJ ENM on May 27, 2024. (PHOTO NOT FOR SALE) (Yonhap)

SEOUL, June 20 (Yonhap) -- This summer, traditionally the peak season for the box office, the lineup of South Korean films set to compete for audience attention is emerging.

Unlike previous years, where a few major 'tentpole' films from leading distributors dominated the scene, this year sees a competition among several smaller-scale films.

According to the film industry on the 20th, only three South Korean films with production costs exceeding 10 billion won are slated for release during the peak season (mid-July to mid-August): "Hijacking" releasing on the 21st, "Escape: Project Silence" (hereafter "Escape") set for August 12th, and "The Land of Happiness" expected to hit theaters in August.

"Hijacking" is estimated to have cost 14 billion won to produce, "Escape" 18.5 billion won, and "The Land of Happiness" slightly over 10 billion won.

In contrast, other films do not exceed the 10 billion won mark. "Handsome Guys," releasing on the 26th, cost 4.9 billion won, and "Escape," releasing on August 3rd, cost 8 billion won. "Pilot," hitting theaters on August 31st, also falls under 10 billion won according to the distributor. "Victory," opening on August 14th, cost 8.3 billion won.

This lineup is markedly different from previous years. Last summer, major releases such as "Smugglers," "Unofficial Operation," "The Moon," and "Concrete Utopia" all had production costs well over 10 billion won, ranging from 17.5 billion won ("Smugglers") to 28 billion won ("The Moon"). These films featured star-studded casts, stunning CGI, and exotic locations. The shift in the box office atmosphere this summer is partly due to last year’s major films performing poorly, with only "Smugglers" achieving significant success. "The Moon" and "Unofficial Operation" fell far short of their break-even points.

Additionally, the off-season successes of "Spring in Seoul" and "Paimyo," which were released in November last year and February this year respectively, solidified the perception that traditional box office formulas no longer apply. A distributor representative noted, "The era of attracting audiences solely based on high-budget productions is over. It has become more advantageous to release films at times that perfectly align with their unique characteristics rather than adhering strictly to peak season schedules."

This summer’s releases each have distinct identities. Directed by Kim Sung-han, "Hijacking" dramatizes the 1971 hijacking attempt of a Korean Air passenger plane, combining the tension of the real event with restrained melodrama and featuring the acting synergy of Ha Jung-woo and Yeo Jin-goo. "Escape," directed by Kim Tae-gon, and "The Land of Happiness," directed by Choo Chang-min, draw attention as the late Lee Seon-gyun's final works. "Escape" is a thriller about people stranded on a bridge to the airport, while "The Land of Happiness" revolves around the 1979 assassination of President Park Chung-hee.

Nam Dong-hyup's "Handsome Guys" and Kim Han-gyeol's "Pilot" are comedies. "Handsome Guys," a blend of comedy and occult, depicts the bizarre incidents faced by two men moving into a haunted rural house, while "Pilot" tells the story of a man who, after losing his job, assumes his sister’s identity to re-enter the workforce. Jo Jung-suk stars in both "The Land of Happiness" and "Pilot."

Lee Jong-pil's "Escape" vividly portrays the pursuit of a North Korean soldier trying to defect across the Demilitarized Zone (DMZ) and the officer chasing him. Films like "Hijacking," "Escape," and "Handsome Guys" predominantly feature male leads.

In contrast, "Victory" stands out with its female lead, portraying a cheerleading club in the late 1990s, starring former Girl’s Day member Hyeri. Some films, like "Escape," which was produced during the COVID-19 pandemic, have faced delays in finding an appropriate release date, with "Escape" taking over three years to hit theaters since finishing filming in February 2021, and "Handsome Guys" wrapping up in December 2020 finally seeing its release.