Korean Movies Lose Box Office Crown in 2021, for the First Time in a Decade

South Korean cinema last year squeezed out a gain of 14% compared with 2020, but 2021’s major box office honors went to foreign movies, not the normally dominant local film sector. Aggregate gross revenues hit KRW584 billion ($488 million) in 2021, earned from 60.5 million ticket sales, according to Kobis, the data service operated by the Korean Film Council (Kofic). In 2020, revenues were KRW510 million ($426 million), earned from 59.5 million spectators. In pre-COVID times, South Korea was the world’s fourth largest box office market, behind only North America, China and Japan, due to Koreans’ high per capita cinema… Read Full Article