Distributors in select foreign countries who have acquired the theatrical rights to a Korean film can apply to the fund to cover up to 50% of release expenses, in accordance with the number of opening theatres and the scale of the marketing campaign.
The maximum amount of support per film has been capped at $105,000 (100m won). Films eligible for support include feature-length dramas, documentaries or animations that were made in Korea, or co-produced with Korea as the main producing country.
The 'KOFIC P&A Fund for Korean Films Abroad' launches in March as part of KOFIC's efforts to widen the international market for Korean films and compensate for a downturn in the domestic Korean market.
KOFIC already has a support programme for Korean films released in the UK as part of a co-distribution support agreement signed with the UK Film Council last year.
Four Korean films are screening in official selection at Berlin - Hong Sangsoo's Night And Day, which is screening in competition; Juhn Jai-hong's Beautiful (Panorama); Mun Jeong-hyun's Grandmother's Flower (Forum), and Lee JP's 28-minute short Light My Fire (Generation).