Busan: Asian Project Market Awards Go to Region's Top Indie Filmmakers

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Indonesian filmmaker Edwin won the 2016 Busan Award.

South Korean novels deemed most adaptable for the screen took home E-IP Market Awards.

The 2016 Asian Project Market (APM), the region's largest investment and co-production market, on Tuesday evening announced the winners of its seven awards. The 19th edition of the annual market introduced a diverse range of 27 works from 16 Asian countries.

The Busan Award, a cash prize of $15,000 financed annually by the Busan metropolitan government, went to Love and Vengeance by Indonesia's noted indie filmmaker Edwin. The Bright East Films Award, a newly introduced prize accompanied by $15,000, was awarded to The Chrysanthemum and the Guillotine by Takahisa Zeze, the Japanese indie director best known for helming 1990s soft-porn "pink films."

Korea's top investor-distributors also presented its annual awards, through which the companies will have the first-look option for production, investment, sales and distribution of winning projects. Lotte Entertainment handed the Lotte Award of 10 million won (or about $9,000) for Korean works to Undefined by Seo Eunyoung. The CJ Entertainment Award ($10,000), given to a promising international project, went to the Cambodia-France co-production White Building by Neang Kavich. The latter also took home a second award, the €6,000 Arte International Prize, granted by Arte France.

The state-sponsored Korea Creative Content Agency (KOCCA) Award went to The French Woman by Korean filmmaker Kim Hee-Jung. Lastly, the MONEFF Award, which offers $30,000 worth of postproduction support, including VFX and editing services, went to The Cold-Blooded Penguin by Korea's Jang Kunjae.

The Entertainment Intellectual Property (E-IP) Market, geared for introducing story formats ranging from cartoons to literary works, announced two works with the most potential for film adaptations. Leading Korean distributor Next Entertainment World grants 10 million won to each piece. This year, the two NEW Creator Awards went to the historical novel The Lawyer Who Sues Chosun Dynasty (EunHaeng Namu Publishing Co.), which was featured in the market's Book to Film section, and the web novel Sprinter: Underworld (All That Story), which was among the E-IP Pitching selections.

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