The KOFIC Location Incentive program, launched in 2011 by
Korean Film Council
The Korean Film Council (KOFIC) () is a state-supported, self-administered organization under the Ministry of Culture, Sports and Tourism (MCST) of the Republic of Korea.
History
KOFIC was launched in 1973 as the Korean Motion Picture Promotion C ...
(KOFIC), covers a part of the expenses of "foreign feature films, television series and documentaries" shot in South Korea. KOFIC grants up to 30% cash rebate on “foreign audio-visual works production expenditure incurred for goods and services in Korea”. The grant amount is subject to change depending on the numbers of days taken to shoot the film and the remaining grant program budget as of the date of application.
The program has been supporting many films since its launch, including, “One Cut” (Japanese feature film), “Amour” (Japanese feature film), and “Taste” (Chinese feature film) in 2013; “Urban Games” (Chinese feature film), “Olympic Ransom” (Japanese TV drama), and “Full House” (Thailand TV drama) in 2012; and “Hakuji no Hito” (Japanese feature film ), “Rainbow Rose” (Japanese TV series), and “On the Road” (Chinese feature film) in 2011.
The number of times Western films portrayed Korea in their movies has been remarkably less than the number of times Western films portrayed either China or Japan. Also, Korea has usually been portrayed as a “faux North Korea.” Through this program, the South Korean government shows willingness to change the status quo. It seeks direct economic gain through tourism and local employments. But in the long run, it also seeks to promote Korea’s brand image and to increase its
Soft power
In politics (and particularly in international politics), soft power is the ability to co-opt rather than coerce (contrast hard power). In other words, soft power involves shaping the preferences of others through appeal and attraction. A defin ...
. This will give Korea a higher position in the global society.
[Nicole]
"Marvel Studios And “The Avengers” In South Korea And Asia"
''seoulbeats'', April 8, 2014
'Avengers: Age of Ultron'
Marvel Studios
Marvel Studios, LLC (originally known as Marvel Films from 1993 to 1996) is an American film and television production company that is a subsidiary of Walt Disney Studios, a division of the Walt Disney Company. Marvel Studios produces the Mar ...
was selected for the incentive program has shot the sequel of 'Avengers','Avengers: Age of Ultron' in Korea in March, 2014. 30% of the production cost is to be paid by the Korean government.
[Jung-in Sohn]
"'Avengers 2' expected to bring big benefits to Korean movie industry"
''Arirang News'', March 19, 2014
Up to 23 million dollars’ worth of economic benefit is expected, especially in the local job market and tourism. Also, in the movie, Korea will be a portrayed as a “high-tech, modern country” with “no negative light shed on the country” — a clause included in the contract between Marvel and the Korean government.
Korea anticipates that this event be the new
Gangnam Style in positively adding to the Korea's brand value.
See also
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Film finance
Film finance is an aspect of film production that occurs during the development stage prior to pre-production, and is concerned with determining the potential value of a proposed film.
In the United States, the value is typically based on a f ...
References
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Cinema of Korea