Korean Film Industry Moves From Quotas to Subsidies

The Korean government has reacted to the recent reduction of the foreign film quota system in Korea by offering subsidies instead:

The government will inject W400 billion (US$400 million) into the film industry over the next five years to compensate it for a cut in the screen quota that so far guaranteed it a comfortable 176 days a year in the movie theaters. Half the money is to come from a 5 percent levy on tickets.

The long list of well made Korean films can stand on their own against Hollywood blockbusters and this subisidy that is coming from the consumers wallets will only serve to keep the crappy Korean films around.