Korean and Italian producers sign co-production pact in Busan
Korean and Italian producers have created a formal route for making films together, signing a co-production pact at the Busan festival market.
The Producers Guild of Korea (PGK) and CNA Cinema e Audiovisivo signed a memorandum of understanding, a written agreement to cooperate, at the Italian Pavilion at the Asian Contents & Film Market (ACFM), the buying and selling market attached to the Busan International Film Festival, according to Variety.
PGK president Lee Dong-ha signed for the Korean side. Francesco Lattarulo, national vice-president of CNA, signed for the Italian side on behalf of national president Gianluca Curti.
Under the pact, each organisation will act as a contact point for producers looking for partners in the other country. They will share information on public funding open to producers in Korea and Italy, the grants, tax credits and other support that often decide whether an independent film can proceed.
The two groups also plan regular exchange programmes. That includes yearly meetings, showcases and business-to-business sessions in Korea and Italy, plus joint activities at international markets including ACFM and Rome's Mercato Internazionale Audiovisivo (MIA).
The producers' agreement sits below a government-level film co-production accord already in place between Italy and South Korea. Italy's presence in Busan has built gradually. CNA brought Italian government representatives to ACFM in 2023, which led to Italy running its own pavilion at the market from 2024.
On the Korean side, PGK counts nearly 300 members working across cinema features, documentaries and series. It already holds similar cooperation agreements with the Canadian Media Producers Association, the Hong Kong Movie Production Executives Association, Indonesia's APROFI and Brazil's SIAESP, according to Variety.
CNA Cinema e Audiovisivo is Italy's largest representative body for film and audiovisual businesses by number of member companies. It sits inside CNA, a national confederation of around 620,000 entrepreneurs with a presence in all 20 Italian regions.
The Italy deal was not PGK's only signing that morning in Busan. The guild also struck a separate co-production memorandum with the Sakha Filmmakers Association, which represents producers from the Sakha Republic, also known as Yakutia, in Russia's Far East.
What makes this stand out is the plumbing. Festivals bring premieres. Markets decide what gets made next. A shared contact list, funding guides and yearly meet-ups will not put a film on screen by itself, but they give producers in Seoul and Rome a clearer place to start.
