Although sellers weren't expecting much action until the AFM, the marketat the Pusan filmfestival closed with several major sales on Wednesday (Oct 12).
Among the biggest deals, start-up Korean sales agent iHQsold Sad Movie to Japan's Gaga for asum that was more than 80% of the film's $3.5m budget. The melodrama, whichopens in Korea on Oct23, also went to Edko Films for Hong Kong and China andFestive Films for Singapore and Malaysia.
In addition, Korea's Mirovision sold rom-com My Wedding Campaign to Sony for Japan and saidit was close to Japanese deals for two other titles. My Wedding Campaign is the closing film at the Pusan festival on Friday.
Meanwhile, Tartan Films bought several titles at Pusan including US rights to Taiwanesehorror The Heirloom. It also boughtrights for both the US and UK toKorean title Cello from TubeEntertainment and Prayer and Booth from Japan's Pony Canyon.
Other titles generating interest included Showbox'sWelcome To Dongmakgol,recently a huge hit in Korea, and CJEntertainment's You Are My Sunshine.
This year marks the first time that the Pusan festival has held marketscreenings. The so-called "Industry Screenings", selected by PIFF programmersfrom the festival line-up, were introduced five years ago - but this year 38screenings were selected by sales agents.
Sellers reported that the market - which is set for a huge expansionnext year - has been shaping up as a warm-up for the AFM. "It's too short tosign many deals so buyers come just to take a look," said CJ Entertainment's Kini Kim. "It's close to Tokyo so it'sconvenient for the Japanese buyers."
Other deals at the three-day market included:
- Korea's ShowEast sold all US rightsto melodrama April Snow, starring Bae Yong-joon, to talent agent and concert promoter Click Stars.
- iHQ sold AndrewLau's $10m action picture Daisy, currently in post-production, to InnoForm for Singapore and Malaysia.
- Andy Lau's Focus Films sold competition title The Shoe Fairy toTokyo-based distributor and management company IMX.
- Hong Kong'sUniverse Films Distribution sold a seven-title package to Thailand.
- Golden Network Asia soldMidnight My Love to CJ Entertainment and Born To Fightwas also sold to Korea.