Barunson E&A, the production and distribution studio behind “ Parasite ,” reaffirmed that sharply rising production costs and slowing film revenue in Korea are driving local producers to pivot towards global co-production.

Yoonhee Choi, CEO of Barunson E&A, noted the challenge facing the industry at a seminar on international co-production at TIFFCOM , the market arm of the Tokyo International Film Festival .

“In Korea, the film industry has been struggling, and at the same time, the production costs have risen significantly,” said Choi. “As labor costs and general prices have gone up, average production costs have increased across the board. Since the profit from films has decreased, these investments are becoming more difficult.”

The studio has expanded its business into interna

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