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Korean film industry cites need for Hollywood money

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From its struggles with online piracy, sharp contraction in overseas distribution and sales, and “a failure to get on board the emerging trend of multimedia convergence,” doom and gloom were the words to describe the future of the local film industry during the “Korean Films Going Global” forum at the Korea Chamber of Commerce in Seoul last Friday.

“Unless the Korean film industry begins globalizing through co-financing, co-production, and content sharing with Hollywood, it will continue its course of decline,” said Seo Hyeon-dong, team leader of CJ Entertainment’s overseas investment and production division.

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via AsiaOne

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