Busan Film Festival, China's Zonbo Sign MOU to Form New Distributor
New distrib will focus on offering Busan festival fare throughout Asia.
SEOUL -- South Korea’s Busan International Film Festival and Chinese distribution company Zonbo Media signed a memorandum of understanding Saturday to strengthen their collaboration in film production and distribution.
Lee Yong-kwan, Busan’s festival director, and Chen Weiming, the chairman of Zonbo Media, signed an agreement in Beijing to co-found a new film distribution company called Zonbo-BALCON.
BALCON, or Busan Alternative Content Network, is an existing company specializing in film production and distribution by Busan, Zonbo and Chinese investment. The company produced Camellia, an omnibus film by Yukisada Isao, Jang Joonhwan and Wisit Sasanatieng as the closing film for last year’s Busan film festival.
With the launch of Zonbo-BALCON, Busan will actively support domestic and international distribution of Korean independent films, as well as projects by the Asian Cinema Fund. The new venture will also strengthen the distribution of Asian indie films in the international market especially in Korea and China.
Zonbo Media has worked on various Chinese and Korean productions including Hur Jin-ho’s A Good Rain Knows (2009) and April Snow (2005) and Ryoo Seung-wan’s Crying Fist (2005). The company also distributed Zhang Yimou’s Chinese films Curse of the Golden Flower (2006) and House of Flying Daggers (2000) in Korea.