Korean box office posts record Q3 sales

The Korean box office saw the highest third quarter profits this year in its history, according to statistics released by the Korean Film Council (KOFIC) on Monday.

During the period counted from July to September 2009, the Korean box office drew over a total 46 million viewers and achieved sales of 328.7 billion won, or over 280 million dollars, according to KOFIC's official quarterly report.

It breaks the previous year's sales record by about one billion won which comes presumably due to the increase in ticket prices, effective since June, also at its highest in history at an average 7,075 won per ticket.

Korea gained its presence in the local film industry, according the report. Korean films accounted for 51.2 percent of market share between January and September this year, compared to 40.9 percent during the same period last year.

In the third quarter alone, Korean movies accounted for 61.5 percent of market share, boosted by the success of films "Haeundae" and "Take Off".

The report also said the screening market, which has been declining since peaking in 2007, is expected to improve again in 2009. If films in the fourth quarter draw more than 40 million viewers and surpass a total of 160 million viewers throughout the year, total annual sales are estimated to stand at over one trillion won.

Reporter : Lynn Kim lynn2878@asiae.co.kr
Editor : Jessica Kim jesskim@asiae.co.kr