Japanese Cinema Thrives as Korean Films Miss Out at Cannes

In a surprising turn of events, no Korean films were selected for the main categories at the 78th Cannes Film Festival, which will take place from May 13 to 24. This marks the first time since 2013 that Korean cinema has been completely absent from the festival's major sections. Instead, Japanese films have taken the spotlight, with three entries competing for the prestigious Palme d'Or. Additionally, the Midnight Screenings section, which had featured Korean films for three consecutive years, will also showcase Japanese works this year. Experts warn that if this trend continues, the golden age of K-cinema may become a thing of the past, while Japanese films could dominate for the foreseeable future.

The film industry has reacted to Cannes' disappointing results with a sense of inevitability. A survey of 11 industry experts revealed a consensus that this situation is a culmination of long-standing issues coming to light. For instance, CJ ENM, a leading investment and distribution company in Korea that previously championed global outreach for films like Parasite (기생충) and Decision to Leave (헤어질 결심), has not only failed to submit a film to Cannes this year but is also unable to set up a booth to attract international buyers due to a lack of films to sell.

The stark contrast between the decline of Korean cinema and the rise of Japanese films has been particularly painful for observers. Among the Japanese entries, 'Renoir' is directed by Hayakawa Chie, who previously visited Korea with 'Plan 75'. The horror film 'Exit 8', produced by the team behind 'Suzume' (スズメの戸締まり), has also gained attention. Furthermore, director Ishikawa Kei, known for 'A Man' (한 남자), is being recognized for his film 'Pale Hill Landscape'. Notably, all three directors are in their 40s, highlighting the absence of a new generation of filmmakers in Korea following the successes of Bong Joon-ho (봉준호) and Park Chan-wook (박찬욱).

The decline of Korean cinema can be attributed to a combination of complacency since the late 1990s boom, reduced investment, and fewer productions following the pandemic. In 2024, the domestic film and video industry is projected to grow by 4% to 3.33 trillion won, while the OTT market is expected to increase by 11% to 2.07 trillion won. However, box office revenues have dropped by 5.5% to 1.26 trillion won, which is only 53% of the pre-pandemic levels seen in 2019. This shrinking market has led to a lack of risk-taking, with investments focusing solely on established directors and star actors, resulting in a loss of originality and audience interest. Film market analyst Kim Hyung-ho stated, "Korean cinema is trapped in a dual pit of failing to generate revenue and artistic challenges."

To escape this predicament, experts suggest addressing the polarization between large commercial films and low-budget independent projects. Nam Dong-cheol, former chief programmer of the Busan International Film Festival, emphasized the need to actively support mid-range films with budgets of 2 to 3 billion won. The success of Japanese cinema is partly due to its ability to produce solid films with budgets of 1 to 2 billion won.

There is also a call to nurture new directors and producers. Choi Jae-won, head of Ensology Studio, who brought the film 'The Spider's Nest' (거미집) to Cannes in 2023, lamented the loss of investment courage in new filmmakers, noting that the hit film 'The Attorney' (변호인) was the debut of director Yang Woo-seok. Park Jong-won, a professor at the Korea National University of Arts, suggested that government funding for films should be strategically allocated to encourage a variety of projects rather than distributed mechanically.

Additionally, there is a push for filmmakers to adopt a global perspective. Kim Dong-ho, the founding executive director of the Busan International Film Festival, advised young directors to look beyond domestic investments and consider multinational co-productions, particularly in Southeast Asia.