Foreign Film Quotas Reduced in South Korea

In an anticipated move, South Korea has agreed to reduce it’s movie quota system for foreign films:

Finance Minister Han Duck-soo said during a weekly briefing South Korea would halve the quota requiring cinemas to show local films for 146 days of the year to 73 days.

The United States, South Korea’s second-largest trading partner, has pressed Seoul to open the film market more, saying the quota system was a major impediment for negotiating a bilateral free trade agreement.

“The government has decided to take measures needed for the goal of reducing the screen quota to 73 days starting on July 1, after considering such quotas in other countries,” Han said.

Can we put a quota system on Hollywood films in America? Hollywood movies is recent years for the most part have sucked. If the Korean film industry continues to produce high quality domestic movies I see no reason why they should fear Hollywood.

I still can’t get over the money I wasted watching the Fantastic Four and other crap Hollywood movies this past summer.