The Korean Film Council (KOFIC) and the Vietnam Cinema Department signed a minutes to develop cinema in the respective countries during a forum in Ho Chi Minh City on June 23.

Deputy Minister of Culture, Sports and Tourism Vuong Duy Bien hailed the modern cinema of the RoK, saying the bilateral collaboration in the field is important in the light of globalisation.

However, the unique culture of the respective countries should be preserved and promoted, he added.

Kim Hyoun-soo, head of the KOFIC policy development research department, said the RoK ranked seventh in revenue in the global cinema market last year.

The country screens around 70 movies each year, drawing some 112 million visitors in 2015. The RoK’s Government established the “Fund of Funds” in 2005 to support local film producers, he noted.

Deputy Director of the Vietnam Cinema Department Do Duy Anh said Vietnamese cinema developed vigorously in 2015, with a variety of genres and high quality.

The movie “Yellow Flowers on the Green Grass” by Director Victor Vu, for example, grossed 80 billion VND (3.6 million USD) in revenue after 40 days of screening, creating a fever in 2015.

Participants said the Vietnamese film industry is facing both opportunities and challenges. Vietnamese movies screened at the cinema only account for 17 percent, while the US ones make up some 65 percent.

The Vietnam Cinema Department encourages organisations and individuals to get engaged in more activities to develop the local cinema.

Meanwhile, the State has policy to set up a fund to support the industry, especially enabling domestic film makers to learn experience from foreign producers.

VNA