The number of moviegoers in Korea this year has risen sharply since early August, raising the likelihood of setting a new post-pandemic box office record. Following the 10-million-viewer film "The Man Who Lives With the King," hits such as "Gunche," "Hope" and "Salmokji" have succeeded one after another. With major summer peak-season and Chuseok holiday releases on the horizon, theaters are regaining vitality for the first time in a while.
According to the Korean Film Council's integrated ticketing computer network on the 6th, cumulative attendance this year has surpassed 71.66 million. This exceeds the level during the same period last year, and if the current momentum continues, there is a strong likelihood it will surpass the post-pandemic record of 125.14 million set in 2023, according to forecasts. Last year's annual attendance stood at 106.09 million, barely exceeding 100 million.
In particular, with the boom in high-priced premium formats such as IMAX, ScreenX and 4DX combined with the heat wave, revenue growth is expected to be even larger this year. According to the Korean Film Council, the number of moviegoers who watched films in special screening formats in the first half of this year reached 2.95 million, up 49% from the same period a year earlier. For films such as "The Odyssey" and "Spider-Man: Brand New Day (Spider-Man 4)," most seats have sold out, with scalped tickets trading at more than 100,000 won.
Leading the market recovery are undoubtedly the blockbuster hits. Starting with "The Man Who Lives With the King," this year's first 10-million-viewer film, along with "Gunche," "Hope" and "Salmokji," successive box office successes have injected vitality into Korea's film market. With Hollywood blockbusters also joining in, the summer box office is heating up even further.
"Spider-Man 4," which opened late last month, has surpassed 4.4 million viewers as of the 6th, giving a green light to reaching 10 million. Director Christopher Nolan's new film "The Odyssey" also drew 290,000 viewers on its opening day on the 5th, raising box office expectations. If both Hollywood blockbusters reach 10 million viewers, a pair of "10-million films" would emerge in the summer peak season alone, driving the entire film market.
Korean films are also drawing crowds with diverse genres. The successive release of films targeting family audiences is another positive factor. The animation "Catch! Teenieping: The Legend of the Whale Jewel," the comedy action "Okay Madam 2," and family dramas "Gyeongju Travelogue" and "Bigwang" are targeting niche markets such as family audiences.
September, typically classified as an off-season, also has a lineup of anticipated releases. With blockbusters and mid-size films evenly positioned—including "Bigwang," "The Assassin(s)," "The Revived Man: The Red," "Tazza: Song of Beelzebub" and "The Intern"—the mood is set to be quite different from last year's Chuseok season.
The subject matter and target audiences also vary by film. "The Assassin(s)," based on the true story of an assassination attempt on a first lady, deals with weighty subject matter and is expected to draw social interest. "Tazza 4," built on the fandom of the original comic and film series, is considered a strong Chuseok box office contender. "The Revived Man," a film adaptation of the webtoon of the same name, portrays the reality of a job-seeking man in his 20s, while "The Intern," a remake of the Hollywood film of the same name, depicts a middle-aged man's fresh challenge as a senior intern, aiming for cross-generational appeal.
The box office recovery is likely to lead not only to higher attendance but also to increased revenue. Movie ticket prices have recently risen, and the steady increase in the use of premium screens such as IMAX, 4DX and Dolby Cinema is raising the average spending per customer. As admission prices at some premium screens exceed 20,000 won, the industry expects that as the number of hits grows, theater revenue will expand beyond the pace of attendance growth. Seo Ji-myung, head of CJ CGV's communications team, explained, "Along with the box office success of major blockbusters such as 'Spider-Man: Brand New Day' and 'The Odyssey,' demand is growing for the overwhelming screen, sound and immersive viewing environment that can only be experienced in theaters." He added, "As the trend of preferring immersive viewing experiences spreads, demand for technology-specialized screens such as ScreenX, 4DX and IMAX is also steadily increasing."
The film industry expects that if the summer peak-season box office momentum continues through the Chuseok season, the recovery of the sluggish theater industry will gain further traction. Until last year, market recovery was slow due to a shortage of hit films and weak consumer spending. This year, however, Korean films and Hollywood blockbusters are leading the box office in balanced fashion, and with new films across diverse genres opening one after another, theaters are being assessed as regaining vitality for the first time in a while.
