Earlier this month, South Korean DVD distributors and consumer electronics companies launched the Blu-ray Film Festival next to the venue of the annual Pusan Film Festival, an event supported by the Blu-ray Disc Association and Kofic, the Korean Film Council.

Screening 13 films in Blu-ray, including Troy, Shine a Light, Lust, Caution, Platoon, The Shining, Blade Runner and Speed Racer and local film Bong Joon-ho's The Host, the festival's objective was to revitalize the domestic ancillary market severely damaged by pirated DVDs and illegal downloads, which has in turn impacted the overall structure of the Korean film industry.

The lack of ancillary markets means that a Korean film typically earns 80% of its revenues on theatrical release.
Most of the Hollywood studios have closed or announced plans to shutter their direct video distribution operations in South Korea; Warner Home Video is the exception.

With HTDV sets in already 30% of South Korea's TV households, the Blu-ray Fest organisers hope the ancillary market will recover if the current DVD market is replaced with Blu-ray. It's estimated that 1% of Korean households own Blu-ray players.

Story filed 20.10.08