The Korean Film Council has launched a P&A support fund open to foreign distribbers of Korean movies.
Initiative, which starts life from March 1 with a pool of $420,000 for 2008, is intended to help kickstart exports of Korean titles, which have taken a sharp dive since 2006.
KOFIC will underwrite up to 50% of theatrical releasing expenses to a maximum of $105,000 for theatrical distributors releasing Korean films or majority Korean co-productions. Coin can be used to support features, animations or docs.
The org has recently been experimenting with a bilateral support scheme with the U.K. Film Council. In December it unveiled an export guarantee system backed by the Korean Export Insurance Corp.
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