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Domestic film market 8th largest in the world

South Korea's film market has significant growth potential though it was ranked the eighth largest market in the world, a survey said Thursday.

According to the Korean Film Council, South Korea's film market was worth $1.07 billion on average during the years 1999-2003.

Its market size was comparable to those of Italy ($1.1 billion), Spain ($1.09 billion), Australia ($1 billion) and India ($0.78 billion). However, it was behind the top-ranked United States ($29 billion) and Japan ($6.3 billion).

The number of screens in South Korea was the smallest among the nations surveyed with 1,132, while the U.S. and India had 35,786 and about 11,000, respectively.

The council under the Ministry of Culture and Tourism surveyed the 10 leading countries worldwide in terms of box office sales.

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