Why it matters. South Korean cinema has become a major global export since 'Parasite,' and a record pre-sale shows international buyers now bet heavily on Korean titles sight-unseen, reshaping how films get financed.
Background. Na Hong-jin is one of Korea's most internationally respected genre directors, known for 'The Wailing' and 'The Chaser.' Neon, the U.S. distributor of 'Hope,' is the same company that released 'Parasite' to its 2020 Best Picture Oscar win. A 'minimum guarantee' is an upfront fee a distributor pays for the right to release a film, separate from any later cut of ticket sales — so the reported figure is a floor, not the film's total earnings.
What to watch next. Watch how 'Hope' performs at the South Korean box office in July, which will set expectations for its September North American debut and global rollout.
“Hope,” the new thriller from acclaimed South Korean director Na Hong-jin, has sold distribution rights to more than 200 countries and territories before its release — the largest overseas pre-sale ever recorded for a Korean film, its distributor announced on May 29 following the film’s competition premiere at this year’s Cannes Film Festival.
A Record-Breaking Sale
Plus M Entertainment, the film’s investor-distributor, said “Hope” had “broken the all-time record for overseas pre-sales of a Korean film” by locking in deals across every country and region in its partnership network — effectively a clean sweep. The company did not disclose an exact figure but put the total in the range of roughly 20 billion won (about $14.5 million), which it said allowed the production to “recover half of its net production cost early.”
That production cost is itself a Korean record. “Hope” was made for more than 50 billion won (roughly $36 million) in net production spending — the most expensive Korean film ever — drawing attention from the moment shooting began.
Plus M stressed that the pre-sale revenue represents only a “minimum guarantee” — an upfront payment distributors pay regardless of box-office performance. Because the contracts also entitle the film to a share of overseas ticket sales, the company said “Hope” is likely to earn considerably more once it opens in theaters worldwide.
Heavyweight Distributors Sign On
The buyers are among the biggest names in global film distribution. North American rights went to Neon, the U.S. studio behind “Parasite” that has handled multiple Cannes Palme d’Or winners over the past decade. European art-house specialist Mubi took Spain, Italy, Germany and other major European markets along with Latin America, while UPI France, Sony Pictures and other large distributors secured rights across Europe and the Middle East after what the distributor described as fierce competition.
Major distributors across Asia — in Japan, Thailand, Taiwan, Hong Kong, the Philippines, India, Indonesia and Vietnam — also signed on as local partners. “Hope” was one of the most talked-about titles at the Cannes film market, which ran through May 23.
What ‘Hope’ Is About
The film follows Beom-seok (played by veteran actor Hwang Jung-min), the head of a remote port office inside the Demilitarized Zone that separates the two Koreas. After local young men report a tiger sighting, the village is thrown into a state of emergency, and Beom-seok finds himself pursued by an unidentified monster. Critics at Cannes praised the film for the intense, immersive style that has become Na’s signature.
“Hope” opens in South Korean theaters in July, followed by a North American release in September and a staged worldwide rollout after that.
