Korean film companies expanding overseas are concentrating on Southeast Asia, entering the region through channels ranging from intellectual property licensing to co-production with local directors — an approach that industry watchers say is producing measurable results.
Distributor NEW took part in the planning and production of "Descendants of the Sun Indonesia," a working title for an Indonesian film that recently wrapped shooting. The film is a remake of "Descendants of the Sun," the 2016 Korean drama starring Song Joong-ki and Song Hye-kyo. The original, which followed soldiers finding growth and romance in unfamiliar territory, drew a nationwide peak rating of 38.8% during its Korean broadcast. The film layers local sentiment and settings onto the original narrative. Hanung Bramantyo, who directed the Indonesian remake of the Korean film "Miracle in Cell No. 7" (2013), and Reza Rahadian, regarded as one of Indonesia's leading actors, have joined the project.
"Ward 402 at the Abandoned Hospital," an Indonesian film unveiled in July at the 30th Bucheon International Fantastic Film Festival, is another case of Korean IP being put to use. The film reworks director Jung Bum-shik's 2018 horror movie "Gonjiam: Haunted Asylum" through an Indonesian lens. It follows Indonesian streamers who travel to an abandoned hospital in Korea, generating a different kind of tension from the original.
There are also cases in which Korean IP has expanded its universe independently overseas. A prime example is "The Second Gift from Room 7," which has been greenlit for production in the Philippines. It is a remake of the Indonesian-made sequel to "Miracle in Cell No. 7." Director Lee Hwan-kyung's "Miracle in Cell No. 7," which drew 10 million admissions in Korea in 2013, was remade in Indonesia, the Philippines and Turkey, and its popularity led to a sequel that never existed in Korea.
Also notable are projects built on original IP developed with local Southeast Asian creators. CJ ENM (035760) was an early mover in the Vietnamese market as part of its global strategy. After entering Vietnam in 2011 with the distribution of the film "Quick," CJ ENM began producing local films in 2014 that were developed with Vietnamese-language scripts and local actors. "House of No Man" (2023), co-produced by CJ HK Entertainment, the company's Vietnamese unit, took in $22 million from 5.78 million admissions to set a new all-time box office record at the time, and "Mai" (2024) earned $21.46 million from 6.43 million admissions, breaking that record just a year later. As of the 31st of last month, "Mai" ranked second all time in Vietnam and "House of No Man" third. Three CJ HK Entertainment titles also dominated the upper ranks of Vietnam's annual box office this year: "Pee Pong: Blood Demon" (second), "Zero Meets Hero" (third) and "Ma So: Forbidden Ritual" (fourth).
The Southeast Asian push by Korean film companies draws particular attention because it is accelerating while the domestic market's recovery from the COVID-19 pandemic remains slow. According to the Korean Film Council, cumulative admissions from January through August this year reached 87.26 million, up 28.9%, or 19.58 million, from the same period a year earlier. Annual admissions are likely to rise this year but are expected to fall short of the 200 million recorded annually before the pandemic.
Southeast Asia, by contrast, has seen steady growth in its film market. Vietnam in particular is one of the fastest-growing markets, helped by a young population and economic expansion. According to the Korean Film Council's "2025 Film Industry Review," Vietnam drew 71.2 million admissions last year, up 31.1% from the previous year.
Ko Kyung-beom, head of global projects at CJ ENM's film business division, said the company had little choice but to look abroad. "The Southeast Asian market is expected to grow along economic and cultural lines similar to Korea's, so there appears to be room to make use of the know-how and IP we have built up over the years," the executive said.
