“Squid Game” star lee Jung-jae was among the Korean celebrities to lead out a red-carpet parade on the opening night of the 29th edition of the Busan International Film Festival . The festival kicked off Wednesday with a bright show of international solidarity and a spectacular, if controversial, Korean film from Netflix . The ceremony, held under the semi-open roof of the futuristic Busan Cinema Center, was buoyant and attended by 4,500 guests, masking some the woes incurred by the festival itself and by the wider Korean film industry.
Officials at the event debuted a new slogan — “Vision of Asia, Ocean of Cinema” — reflecting the South Korean port city’s revised ambitions ahead of next year’s 30th anniversary edition. Last year, internal divisions ripped the festival management apart, causing sponsors to flee and a reduced budget. While some of the wounds have since been healed, replenished sponsorship and city government funds have only compensated for reduced national government support.
In addition, the Korean theatrical box office has become increasingly challenging for all but a handful of tentpole titles. That compounds the feeling of vulnerability felt in the face of stiff competition from local and international streaming platforms for on-screen and craft talent. The ceremony included the presentation of the previously-announced Asian Filmmaker of the Year Award to Japan’s Kurosawa Kiyoshi, who has three films out this year: Berlin premiere “Chim.