S. Korea, China to set up $187 mln fund for movie co-production next year
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20:18 October 31, 2014
BEIJING, Oct. 31 (Yonhap) -- South Korea and China on Friday agreed to speed up their efforts to launch a 200 billion won (US$187.4 million) fund next year for use in jointly producing movies, a senior Seoul official said.
The agreement was reached during the talks in Beijing between South Korean Vice Culture Minister Kim He-beom and his Chinese counterpart, Ding Wei, Kim told reporters. South Korea and China will shoulder 100 billion won each for the planned fund.
Films jointly funded and produced by South Korea and China will be treated as local movies in the Chinese market, enabling such movies to be exempt from an annual quota, Kim said.
kdh@yna.co.kr
(END)
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