Aggressive Netflix VS Conservative CJ... Changes to the Korean film landscape next year [D:영화 뷰]

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Entered 2024.10.21 07:49 Modified 2024.10.21 07:49 Reporter Ryu Ji-yoon ([email protected])

Netflix to release 7 original Korean movies next year

CJ ENM to release director Park Chan-wook’s new film in the second half of next year

Ahead of 2025, Netflix and CJ ENM are approaching Korean movies with conflicting attitudes. While Netflix has declared aggressive investments in a variety of genres, new scenes, and directors, CJ ENM, Korea’s largest investment and distribution company, is preparing for a cautious year through a conservative approach. This difference in strategy heralds a new topography for the Korean film industry.

ⓒCJ ENM·Netflix

Netflix will release seven original Korean movies next year. Director Yeon Sang-ho’s ‘Revelation’, director Byun Seong-hyun’s ‘Good News’, director Kim Byeong-woo’s ‘The Great Flood’, director Nam Gung-seon’s ‘History of Confession’, director Lee Tae-seong’s ‘Waring Mantis’, a spin-off of ‘Gil Bok-soon’, director Han Ji-won’s animation ‘This Star Needs’ and director Kim Tae-jun’s ‘84 Square Meters’ will be released on Netflix next year.

Directors Yeon Sang-ho, Byun Seong-hyeon, and Kim Tae-jun are directors who have experience collaborating with Netflix. In particular, director Yeon Sang-ho has worked with Netflix on a variety of works, including the ‘Hell’ series, ‘Jeongi’, ‘Seonsan’, and ‘Parasite: The Gray’. Director Byun Seong-hyeon directed ‘Gil Bok-soon’ and director Kim Tae-jun directed ‘I Just Dropped My Smartphone,’ helping to strengthen Netflix’s Korean original movies. In addition to existing directors, we collaborate with directors who are just beginning to make themselves known, such as Namgoong Seon, Lee Tae-seong, and Han Ji-won. In particular, ‘Necessary for This Star’ is Netflix’s first attempt at original Korean animation.

This move can be read as a strategy to diversify risk along with Netflix’s confidence. By expanding investments across multiple directors and diverse genres, the risk of individual films being successful can be minimized. Special

It is noteworthy that the company is simultaneously presenting proven content and fresh attempts through continued collaboration with hit makers such as Yeon Sang-ho. This method appears to be Netflix’s intention to secure diverse cultures and viewers as a global platform.

On the other hand, CJ ENM only focuses on two certain cards. So far, next year’s lineup includes two films: ‘I Can’t Help It’ by director Park Chan-wook and ‘The Devil Has Moved In’ by director Lee Sang-geun. ‘The Devil Has Moved In’ is a cranked-up work, and the only new work that CJ ENM has invested in is director Park Chan-wook’s work.

CJ ENM is one of the most important distributors in the Korean film industry and the largest entertainment company in Korea. It is at the center of the Korean film industry, encompassing film production, distribution, marketing, and investment. However, after the pandemic, works that invested large-scale production costs, such as ‘Alien + Humans’ Part 1 and 2, ‘Hero’, ‘The Moon’, and ‘Escape: Project Silence’, fell short of the break-even point and suffered crushing box office failures. It is safe to say that among CJ ENM’s investment and distribution works since 2020, ‘Confidential Assignment: International’ (6.98 million viewers) and ‘Veteran 2’ (7.41 million viewers) are the only hits based on the break-even point.

Accordingly, we are paying careful attention to the production of new works. As the polarization of Korean films becomes more evident, it is necessary to select and focus on works that are guaranteed to be box office hits, as CJ ENM sees, in order to put them on the screen. However, a conservative approach may have difficulty adapting to changes in the global film industry while expecting stable profits.

A film official said, “It is one way to focus on the same sure cards like Director Park Chan-wook, but amid rapid changes in the market, such a conservative attitude may yield somewhat limited results in the long run.” “For the diversity and global expansion of movies, it is important for Netflix and CJ ENM to strike a balance by taking advantage of each other’s strengths while also referring to each other’s approaches.”

Aggressive Netflix VS Conservative CJ… Changes to the Korean film landscape next year [D:영화 뷰]

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