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South Korean box office sees historical low despite ‘I The Executioner’ triumph
Low-ticket sales mark a tough weekend for theaters
In a surprising twist, the South Korean box office hit its lowest point of the year despite ‘I, The Executioner’ continuing its reign atop the charts. While the crime-comedy-thriller, sequel to the 2015 hit ‘Veteran’, managed to draw in $1.08 million over its fifth weekend, the overall performance of South Korea’s approximately 2,500 cinemas was severely underwhelming, generating a mere $4.39 million between Friday and Sunday.
October blues: A notoriously weak month for cinema
Historically, October has never been a strong month for cinema in South Korea. However, this recent downturn is particularly concerning, with box office totals sinking lower than even the previous COVID-affected years of 2022 and 2023. This slump comes in stark contrast to the seasonal norms and reflects deeper issues within the theatrical release model.
Industry voices at Busan International Film Festival
Industry insiders at the recently concluded Busan International Film Festival have echoed concerns about the current state of theatrical cinema in South Korea. Discussions emphasized the significant struggles that film distributors and cinema operators are facing, further underscored by the dismal revenue figures. The narrative is clear: the industry is mid-crisis and requires innovative solutions to bounce back.
‘I The Executioner’s’ mixed success
Despite the broader industry woes, ‘I, The Executioner’ continues to prove its worth. The film has reached a cumulative total of $52.0 million since its release on September 13, making it the fourth highest-grossing film of the year in South Korea. Only ‘Exhuma’, ‘The Roundup: Punishment’, and ‘Inside Out 2’ have outpaced it, with the latter achieving a staggering $64 million.
The weekend’s other top performers
- ‘Love in the Big City’: This romantic drama earned $874,000 in its second weekend, raising its total to $3.56 million since its October 1 release.
- ‘The Wild Robot’: Claiming third place, this globally top-performing film gathered $679,000 in its second Korean weekend, bringing its total to $2.97 million.
- ‘Joker: Folie a Deux’: Dropping two spots to fourth place, this sequel pulled in $381,000, hitting a cumulative $4.49 million since its release, also on October 1.
- ‘The Notebook’: A re-release of the 2004 classic, this film earned $299,000, attaining fifth place.
New releases and noteworthy mentions
- ‘The Colors Within’: This Japanese animation opened on Saturday, landing in sixth place with $128,000 over two days.
- ‘Transformers One’: Ranking seventh, the film, released on September 25, accumulated another $125,000, reaching a total of $2.42 million.
- ‘Heartsping: Teenieping of Love’: With an additional $80,000, this long-playing Korean animation has now surpassed $8.05 million since its August 7 release.
Further down the list, the Japanese film ‘Look Back’ earned $75,900 for a cumulative of $1.92 million. Japanese animation ‘Detective Conan: The Time-Bombed Skyscraper’ secured tenth place with a two-week total of $582,000. Lastly, Thai comedy-drama ‘How to Make Millions Before Grandma Dies’ fell outside the top ten, drawing in $27,100 over the weekend.
Reflecting on the current cinema landscape
The state of South Korea’s box office serves as a microcosm of the global film industry’s challenges. The pressure is mounted to not just revive but also innovate cinematic experiences to lure audiences back to theaters. Reflecting on these trends, it’s apparent that strategic pivots and resilient adaptations are indispensable for the future of theatrical cinema.
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