Updated: Sep 5
In 2019, the Korea Film Council (KOFIC) determined that the Korean film market was $5 billion. In the report, it was mentioned that there were over 226 million moviegoers, surpassing the 200 million mark set before. The IHS Market, during this year, published that the South Korean customers watched about 4.37 films per capita that were included in the world's highest ranks. Meanwhile, there were about 3.51 films in the United States. The Screen Australia, in 2019, described the world list of film production countries with regards to the box office, admission, number of screens, and other important indicators. According to the data, in terms of box office, North America was at the top of the table but South Korea ranked 5th with 1,600M (the same as India). However, South Korea ranked first in terms of the average admissions per year whilst being the third country in terms of the number of screens.
Starting from 2020, because of the COVID-19 pandemic, the Korean film market size has decreased compared to 2019. As reported by the KOFIC, the number of movie viewers in the first half of 2021 was reduced by 38.2% (12.39M) in comparison with that of the previous year. The ticket sales also decreased by 32% (87.5B Won), the lowest number within the previous 16 years. The moviegoer's number is reduced to 60M, which is a decrease of 74% from the previous year. On top of that, the average number of films per capita was also reduced to 1.15.
Although the COVID has a huge impact on the Korean film industry, the number of foreign movie consumers in Korea has increased to 16.2M, which is higher than that of the previous year. There were over 1M viewers for foreign movies according to the box office. However, even though the Korean film industry is struggling to cope with a limited situation of the pandemic, the Korean movie Deliver Us From Evil released in August 2020, attracted 4.35M viewers during the COVID pandemic situation. The other Korean movies, Escape from Mogadishu and Sinkholewhich were released in August 2021 attracted 3.05M viewers. It seems the Korean market is slowly coming back to the normal phase.