The Busan International Film Festival’s Asian Contents and Film Market concluded its 2023 edition with a remarkable turnout of over 2,479 industry representatives, as reported by the organizers. Despite the challenges faced by the film industry as a whole, sales and licensing companies, buyers, producers, and investors convened in Busan at an expanded exhibition hall to trade various forms of content, including films, videos, novels, and digital comics.
Hyung-rae Kim, the festival representative, acknowledged the global sluggishness of the film market and highlighted the eagerness of attendees to explore new business opportunities and share market insights. Notably, there was a significant presence of visitors from Indonesia, resulting in a packed exhibition hall. Reflecting on the success of this year’s event, the organizers expressed their intention to establish connections with other markets in Europe and develop new programs for future editions.
One of the notable additions to the festival this year was the Networking Lounge, which offered several networking opportunities, including the AFCNet Networking Reception and the Happy Hour hosted by SPCINE, an audiovisual industry promotion organization from São Paulo, Brazil. In total, 271 companies from 23 countries participated, with 32 of them being first-time exhibitors. The European Film Promotion (EFP) and Unifrance jointly opened the European Pavilion, featuring 39 European film companies. Local industry giants such as CJ ENM, Lotte Entertainment, and Showbox showcased their latest Korean content.
The Asian Project Market (APM), focusing on co-production and investment, facilitated over 1,826 meetings during the market period. Among the projects selected for this year’s APM were “Filipina” by Rafael Manuel, “What’s Love Got to Do with It?” by Hirose Nanako, and “To Kill a Mongolian Horse” by Jiang Xiaoxuan.
Another significant platform within the festival, the Busan Story Market, introduced 50 original intellectual properties (IPs) from across Asia. Past editions of the market have seen successful crossovers and remakes, such as the Korean adaptation of the Taiwanese film “Secret” and the Japanese musical version of the Korean drama series “Vincenzo.” This year, Toyou’s Dream, a webtoon-based production company, announced collaborations with Whynot Media to develop webtoon adaptations and produce video content based on their respective IPs.
In recognition of emerging talent, the festival expanded its award categories. The LG OLED New Currents & Vision Award was presented to “The Wrestler” by Iqbal H. Chowdhury (Bangladesh/Canada) and “September 1923” by Mori Tatsuya (Japan). The Kim Jiseok Award, named after the festival’s late programmer, went to “Paradise” by Sri Lanka’s Prasanna Vithanage and “Bride Kidnapping” by Kyrgyzstan’s Mirlan Abdykalykov. The BIFF Mecenat Award honored “The Voices of the Silenced” by Park Soo-nam and Park Maeui, exploring the history of comfort women and Korean laborers under the Japanese imperial army, and “Republic” by Jin Jiang (Singapore/China), delving into the lives of young musicians. The NETPAC Award recognized Patiparn Boontarig of Thailand for directing “Solids by the Seashore,” while the Sonje Award went to “Mydear” by Jeon Dohee and Kim Sohee, a film depicting individuals with disabilities, and “Weeks Later” by Iran’s Nasrin Mohammadpour, which sheds light on the reality and suffering of Iranian women.
Despite the internal feud caused by allegations of sexual misconduct and nepotism surrounding leadership appointments, the festival characterized the event as a success overall. Nam Dong-chul, the festival’s interim director, expressed gratitude for the support of the audience, actor Song Kang-ho as the festival’s host, and participating directors. He emphasized the importance of creating a better environment for the film industry and called for collaborative efforts to achieve this goal.
In conclusion, the Busan International Film Festival’s Asian Contents and Film Market witnessed a significant turnout of industry professionals who sought new business opportunities and shared market insights. The event featured an expanded exhibition hall, networking opportunities, and participation from companies across the globe. Additionally, the festival showcased emerging talent through expanded award categories, and despite internal challenges, the organizers expressed satisfaction with the event’s outcome and emphasized the need for a collaborative response to improve the film industry.