Film Producers Rebuff Movie Stars' "Rash" Demand for "Exorbitant" Pay
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At a press conference held at the Press Center in Seoul on June 28 at 11:00 a.m., the Korean Film Producers Association vowed to take a resolute step to resist film stars' moves to "hold sway over" and "abuse their power" in the domestic film industry. The film producers association had previously caused a stir by rejecting management agencies' demand to pay them a certain share of movie revenues.
In a statement of resolution released that day, representatives from the film producers association said, "The development of the domestic movie industry is being hampered by 'aristocratic' movie stars and their abuse of power. This practice will cause cracks in the whole market structure and eventually lead to the collapse of the industry and the market themselves".
They also said, "The film producing companies will not be the only victims. The ill effects from this practice will ultimately boomerang on the film stars and others, including large management agencies, and lead to the collapse of the entire film industry".
They continued, "Stars' reckless demand for a share from movie revenues and pay hikes is pushing up production costs and lowering profitability. Investors' calls to cast star-quality actors and actresses will result in an eventual vicious cycle causing excessive competition to cast stars".
They also pledged to fulfill their given duties, saying, "We decided to release this letter of resolution in a bid to seek the survivability and sustainable development of the entire movie industry.
They concluded by saying, "We propose developing an efficient cooperative system and rational policies for the development of the film industry, and drafting a standard film production agreement. We will establish and operate an acting school to produce stars who will contribute to the development of the Korean film industry".
Earlier on, the film producers association held a general congress on June 24, where they decided not to comply with requests from management agencies, the employers of stars, to produce films jointly.
On June 28, immediately following the film producers association's press conference, large management agencies held a meeting of their own to seek ways to jointly deal with this situation.
In a statement of resolution released that day, representatives from the film producers association said, "The development of the domestic movie industry is being hampered by 'aristocratic' movie stars and their abuse of power. This practice will cause cracks in the whole market structure and eventually lead to the collapse of the industry and the market themselves".
They also said, "The film producing companies will not be the only victims. The ill effects from this practice will ultimately boomerang on the film stars and others, including large management agencies, and lead to the collapse of the entire film industry".
They continued, "Stars' reckless demand for a share from movie revenues and pay hikes is pushing up production costs and lowering profitability. Investors' calls to cast star-quality actors and actresses will result in an eventual vicious cycle causing excessive competition to cast stars".
They also pledged to fulfill their given duties, saying, "We decided to release this letter of resolution in a bid to seek the survivability and sustainable development of the entire movie industry.
They concluded by saying, "We propose developing an efficient cooperative system and rational policies for the development of the film industry, and drafting a standard film production agreement. We will establish and operate an acting school to produce stars who will contribute to the development of the Korean film industry".
Earlier on, the film producers association held a general congress on June 24, where they decided not to comply with requests from management agencies, the employers of stars, to produce films jointly.
On June 28, immediately following the film producers association's press conference, large management agencies held a meeting of their own to seek ways to jointly deal with this situation.
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