Two Blockbuster Films Result in More Jobs

The two latest Korean blockbuster movies, “Silmido” and “Taekguki,” attracted more than 10 million people. Their box-office profits have an impact on the job market, creating approximately 4,600 jobs for the Korean economy. This is the same number of jobs necessary to make 22,200 Hyundai EF Sonatas.

On Sunday, the Bank of Korea estimated that annual job figures for the domestic film industry are 30 people per one billion won, with “Silmido” and “Taekguki” producing 4,668 jobs throughout their production.

As of April 5, “Silmido” and “Taekguki” raked in 77.5 billion won with an audience of 11.07 million and 78.1 billion won with an audience of 11.15 million, respectively. They produced 2,325 and 2,343 jobs respectively.

Seven other Korean films contributed to the creation of 10,653 jobs. These films include: “SHIRI” in 1999 (36 billion won in profits), “JSA” in 2000 (35 billion won in profits), “Friends” in 2001 (57.4 billion won), “Married to the Mafia” in 2002 (35.4 billion won) and “Memories of Murder” in 2003 (35.7 billion won).

“Silmido” and “Taekguki” had a significant effect on boosting industrial production to 300 billion won, generating 149.4 billion won and 150.6 billion won respectively.

“Silmido” and “Taekguki” added a total value of 132.1 billion won to domestic industry, bringing in 65.8 billion won and 66.3 billion won respectively. These two movies had same effect on the economy as the sale of 12,200 Hyundai EF Sonatas.

Korean films’ export has increased by five times for the fist time in five years. Last year, the Korean film industry exported movies worth 36.9 billion won overseas, which was double the 2002 figure of 18.7 billion won. The exportation of Korean films has been steadily increasing, with 7.1 billion won in 1999, 8 billion won in 2000 and 14.5 billion in 2001.

“The film industry has had a direct impact on some specific sectors such as production and distribution, but has also had a broad impact on the industry as a whole, including the production of goods and services, exportation and job creation. Film industry, unlike manufacturing, has no negative impact on our environment and produces a series of added value. It is an industry we should develop in the 21st century,” BOK official Kim Jong-gwi said.

Joong-Hyun Park sanjuck@donga.com