A scene from the film "12.12: The Day," which attracted more than 13 million moviegoers / Courtesy of Plus M Entertainment

Foreign films lost their stronghold at Korean box offices in 2024, with their audience share dropping to 41.9 percent from January to November as Korean films jumped to 58.1 percent.

This shift comes after a challenging year for Korean cinema in 2023, where foreign animated films like "Elemental" and "Suzume" captured much of the spotlight.

According to the Korean Film Council's end-of-year report, the cumulative revenue of Korean films from January to November 2024 reached 619 billion won ($477 million), up 155 billion won from the same period in 2023.

Total admissions also climbed to 63.97 million viewers, an increase of 16.93 million from a year earlier. In contrast, foreign films saw a steep decline, with revenue dropping by 183 billion won and total admissions falling by 15.24 million compared to the previous year.

Blockbusters and diverse storytelling

Korean films saw notable successes in 2024, with several titles surpassing 10 million admissions: "Exhuma" (11.91 million) and "The Roundup: No Way Out" (11.5 million).

The period film "12.12: The Day" also amassed 13.12 million viewers. Smaller hits like "I, the Executioner," "Pilot," "Escape" and "Handsome Guys" also exceeded their breakeven points, contributing to the industry's recovery.

The year's lineup showcased a wide range of genres, offering something for every taste. "Exhuma" drew occult enthusiasts, "12.12: The Day" delivered a weighty political message, and comedies like "Pilot" and "Handsome Guys" charmed audiences with humor.

Films like "Love in the Big City" explored LGBTQ+ themes with sincerity, broadening the spectrum of stories in Korean cinema.

The black comedy "Handsome Guys" depicts the misadventures of Jae-pil and Sang-gu, who move into a haunted house while dreaming of a peaceful rural life. (Handsome Guys still cut)

Why foreign films lost ground

The decline in foreign film influence has been attributed to several factors. Cultural critic Kim Heon-sik said that the quality and variety of Hollywood films have suffered due to industry strikes. Additionally, the overreliance on franchise films, which often feel formulaic, has left audiences indifferent to theatrical releases.

"Many viewers now prefer waiting for these films to appear on streaming platforms rather than going to the theater," Kim said. He also highlighted the lack of relatable and realistic storytelling in Hollywood, with fantasy dominating the market. "Hollywood struggles to resonate with audiences in a way that feels grounded and emotionally compelling," he said.

With Korean cinema reclaiming its position, all eyes are on whether 2024's momentum will continue into the new year.

This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI system and edited by The Korea Times.