Agencies, producers pledge to cap actors fees for state-supported films
The government introduced the film support program in 2025 with a 10 billion-won fund, expanding it to 46 billion won this year
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Summary
The government introduced the film support program in 2025 with a 10 billion-won ($6.7 million) fund, expanding it to 46 billion won this year. Under the non-binding deal, the government, agencies and producers will work together to ensure that fees for lead and supporting actors in films financed by KOFIC's program for supporting mid- and low-budget films remain below the 10 percent threshold. These fees accounted for 18 to 19 percent of the average 9.5 billion-won production budget in 2024, representing nearly half of all labor expenses.
Furthermore, The Ministry of Culture, Sports and Tourism and the Korean Film Council said the agreement would be signed in the afternoon at the National Museum of Modern and Contemporary Art in Seoul. "We will spare no policy support to ensure that the government's financial backing and the film industry's commitment to mutual growth generate a synergistic effect, enabling Korean cinema to rebound," Culture Minister Chae Hwi-young said in a release. KOFIC Chairman Han Sang-jun called for joint efforts to create a healthier production environment, calling mid- and low-budget films "the backbone" of the industry's diversity and future. (Yonhap).
In addition, The culture ministry said the agreement reflected voluntary participation by actors and talent agencies in support of the government's push to revitalize Korean cinema. SEOUL, July 16 (Yonhap) -- Film producers and major talent agencies have agreed to cooperate to cap actors' appearance fees at below 10 percent of net production costs for state-backed mid- and low-budget films, in a bid to revive the country's struggling film industry, the culture ministry said Thursday.
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The government introduced the film support program in 2025 with a 10 billion-won ($6.7 million) fund, expanding it to 46 billion won this year.
reliability low1/2 sourcesUnder the non-binding deal, the government, agencies and producers will work together to ensure that fees for lead and supporting actors in films financed by KOFIC's program for supporting mid- and low-budget films remain below the 10 percent threshold.
reliability low1/2 sourcesThese fees accounted for 18 to 19 percent of the average 9.5 billion-won production budget in 2024, representing nearly half of all labor expenses.
reliability low1/2 sourcesThe Ministry of Culture, Sports and Tourism and the Korean Film Council said the agreement would be signed in the afternoon at the National Museum of Modern and Contemporary Art in Seoul.
reliability low1/2 sources"We will spare no policy support to ensure that the government's financial backing and the film industry's commitment to mutual growth generate a synergistic effect, enabling Korean cinema to rebound," Culture Minister Chae Hwi-young said in a release.
reliability low1/2 sourcesKOFIC Chairman Han Sang-jun called for joint efforts to create a healthier production environment, calling mid- and low-budget films "the backbone" of the industry's diversity and future. (Yonhap)
reliability low1/2 sourcesThe culture ministry said the agreement reflected voluntary participation by actors and talent agencies in support of the government's push to revitalize Korean cinema.
reliability low1/2 sources
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SEOUL, July 16 (Yonhap) -- Film producers and major talent agencies have agreed to cooperate to cap actors' appearance fees at below 10 percent of net production costs for state-backed mid- and low-budget films, in a bid to revive the country's struggling film industry, the culture ministry said Thursday.
according to Yonhap News
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