• The Journal of the Korea Contents Association
• /
• v.13 no.5
• /
• pp.82-89
• /
• 2013

The phase in digital technology expedited low-budget digital film productions in the Korean film industry; hence the international film festivals circuit became the launching pad for Korean directors as they built their reputation and careers around the critical acclaim. Pieta (Kim Ki-Duk)'s Claim on Golden Lion prize at the Venice Film Festival in 2012 would be one of the splendid achievements - the festival is considered to be one of the top the international film festival. However, the increased volume of the low-budget digital film productions are not necessarily proportional to the growth in the quality of the productions. The drawbacks to the production system appeared to be the underlying cause. In attempt to approach the issue, this article explores the production system from 2000 until now. It is illustrated that the value chain model has been transformed from general ones into vertical & horizontal integrated ones. A notable example of successful indie bands-around Hongik university area-, as well the analysis on the low-budget hit productions, especially from the mid-2000's, are introduced as the case studies. The strategies that led the success, such as subsidies policy, the tax benefits on investment firms and production companies, and the aid in international film festival submissions on low-budget digital film productions, are thus examined with further suggestions.