Pusan announces new funds under ACF

25 projects to receive support from various initiatives

SEOUL -- A total of 25 projects have been selected for this year’s Asian Cinema Fund, which runs during the Pusan International Film Festival, the festival’s organizing committee announced Tuesday.

This year’s ACF will introduce two new funds -- the Asian Overseas Korean Project and the Distribution Support for Asian Network of Documentary.

The Overseas Korean Project Fund was initiated by Ko Young-jae, the CEO of Studio Nurimbo, who produced award-winning documentaries including “Our School,” a story of Koreans living in Japan, and “Life Track,” directed by Korean-Chinese filmmaker Kim Gwang-ho. Ko contributed $82,000 (100 million won), to be invested into films by Korean filmmakers who live abroad.

Also, the newly-added Asian Network Documentary Distribution Support, funded by Lee Chung-ryoul, the documentary director of “Old Partner,” will provide distribution assistance to one Korean film, also worth $82,000, and two Asian films will be acquired for local distribution rights by the Asian Network of Documentary.

Yoon Seong-ho, dubbed as the “next generation director” with his “Milky Way Liberation Front,” Baek Seung-bin, the winner of the PIFF NETPAC Award from 2008 with his “Members of the Funeral” and Chris Chong Chan Fui, who has been invited to Cannes and selected for this year's CineMart Project of International Film Festival Rotterdam, will have their next projects supported by the Script Development Fund.

Woo Ming-jin (“Woman on Fire Looks for Water”), last year’s recipient for the Script Development Fund, has been selected for the Post-production Fund this year. Li Hongqi, who was selected by the Pusan Promotion Plan in 2006 and was invited to the New Currents section in 2008 with his “Routine Holiday,” is also coming back to Pusan this year.

Other returnees are Kim Tae-il and Mun Jeong-hyun, who each won the PIFF Woonpa Award with “Annyong, Sayonara” and “Grandmother’s Flower” in 2005 and 2007, respectively, will showcase their new projects through this year’s Asian Network of Documentary.

The 14th Pusan International Film Festival runs October 8-16.