KOFIC P&A Fund Guidelines for Applicants 2009
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1. Introduction
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○ The KOFIC P&A Fund for Korean Films Abroad is a program where KOFIC
supports expenses related to theatrical distribution in foreign markets. The
purpose of the fund is as follows.
- To expand opportunities for foreign audiences to enjoy Korean films
in theaters
- To reduce the financial risk of releasing Korean films in theaters.
- To nurture distributors specializing in Korean films
○ This Fund is not to substitute for pre-existing investment, but is intended
for films to be shown at a larger number of theaters with effective marketing
and promotion, by adding value to the investment already being made by distributors
for each film.
2. How to apply
○ Eligible for consideration are feature films, documentaries or animations
that were produced in Korea, or co-produced with Korea as the main producing
country.
○ Distributors who wish to distribute the above mentioned works in their own
country by purchasing distribution rights may apply.
○ In general there are no restrictions on regions of distribution. However,
the United Kingdom is to be excluded. Korean films distributed in the UK can
receive support for P&A expenses from UKFC through the KOFIC-UKFC Co-distribution
Support Program, carried out by the Korean Film Council and UK Film Council.
The KOFIC-UKFC Co-distribution Support Program supports a total of $100,000USD
for at least 2 films every year.
○ The applicant must sign a long form contract with the sales company holding
the copyright of the Korean film and obtain confirmation in writing from the
company that the applicant has fulfilled all duties of the contract. This confirmation
must be along with the application.
○ The selections regarding which film will receive the support are made 5
times a year and the specific schedule for 2009 is as follows.
| Application Deadline | Results Announcement | Release to take place | |
| 1st round | 2009 January 31st | 2009 February 28th | after March 31st 2009 |
| 2nd round | 2009 March 31st | 2009 April 30th | after Mat 31st 2009 |
| 3rd round | 2009 June 30th | 2009 July 31st | after August 31st 2009 |
| 4th round | 2009 September 30th | 2009 October 31st | after Noember 30th 2009 |
| 5th round | 2009 November 30th | 2009 December 31st | after January 31st 2010 |
○ The application form should be prepared and submitted following the process
below.
- Visit the website at http://pna.kofic.or.kr and
fill out the on-line registration.
- Print the completed application, and along with other required documents,
please send them by post to the following address.
International
Promotion Dept.
KOFIC
(Korean Film Council)
206-46
Cheongnyangri-dong, Dongdaemun-gu
Seoul
KOREA, 130-010
- Required documents to be sent with the application are:
① Statutory evidence of the company registration number
② List of titles released by the applicant in the last three years including
the number of prints and total box office/admission figures
③ One copy of the long form acquisition contract
④ A list of cinemas where the film applying for the Fund will be released.
*Please write down the names of all the cinemas with city names
⑤ Media & promotion plan
⑥ Full P&A budget breakdown form (format provided)
⑦ Purpose of request
⑧ Licensor's declaration (format provided)
○ The application and other required documents should arrive by the deadline
of each round. Those arriving late may be excluded from the considering.
○ The status of the application, whether it is arrived, registered, or in
the process of being reviewed, can be checked online at http://pna.kofic.or.kr .
○ The Korean sales company of the film applying for support is granted with
rights to review the application and all attached documents relevant to that
film.
3. The selection process
○ A committee of 5 judges will review submitted applications and documents
to decide on the films to receive support and the amount. The amount of support
can range up to 100 million won, at a level that does not exceed 50% of the
total P&A spend.
○ The committee shall proceed with the selection based on the following assessments.
- Quality of the film
- Ability of the distributor - review of previously distributed films,
scale of distribution, proposals on media & promotion.
- Pertinence of the P&A budget plan.
- Necessity of KOFIC's financial support, and its level of contribution
to a successful distribution.
○ If necessary in the course of the selection process, the committee may interview
the Korean sales company of the film under review.
○ The notification of the result of the selection and the amount of support
awarded will be announced on http://pna.kofic.or.kr as
well as to the registered email of each applicant.
○ The applicant selected to receive support and the Korean Film Council will
sign a contract designating the rights and obligations of the two parties arising
from the financial support provided by the KOFIC P&A Fund for Korean Films
Abroad.
4. Payment
○ The finalized award will be paid in two installments.
○ The award may be used for the following purposes.
- On items designated in the attached Full P&A Budget form which includes
release prints, promotion fees, PR agency fees, previews, promotion tours(director,
actors, etc.), printed promotional materials, etc.
- Only receipts dated in a range from 5 months before to 3 months after
the date of release will be acknowledged.
○ The first payment is for 50% of the decided amount, and will be paid when
the applicant submits the following documents soon after the film's release.
- finalized plan of cinema release (including the list of cinemas)
- finalized P&A budget
- administrative documents (classification certificate form, permission
for release, etc.) needed for local cinema release.
- documents or materials that can verify the local cinema release (articles
in newspapers or magazines, figures from box office services such as Nielsen
EDI)
○ The first payment may be smaller than the initially decided amount under
the following circumstances. The right to reduce the amount of payment resides
fully with the Council.
- When the total amount of the finalized P&A budget form, submitted
to request the first payment of the award, is smaller than the budget set in
the submitted application.
- When there are items in the submitted P&A form that cannot be accepted
under the Allowable P&A Items.
○ In cases where the immense changes have taken places in the finalized cinema
distribution and P&A budget plans compared to the initial application,
the Council may cancel its decision to provide support. The right to cancel
the decision of support provision resides fully with the Council.
○ The second payment is for 50% of the decided amount, and will be paid after
the submission of the statement of accounts on the budget execution result.
The statement should cover 3 months from the date of release and should be
submitted within 4 months from the release.
○ The form for statement of accounts on the budget execution result is available
at http://pna.kofic.or.kr . The complete
form should be printed and sent by post to the following address along with
other necessary documents.
International
Promotion Dept.
KOFIC (Korean Film
Council)
206-46 Cheongnyangri-dong,
Dongdaemun-gu
Seoul KOREA, 130-010
○ After the statement is reviewed, items that fall under the following conditions
will be excluded from the recoupment. The items for recoupment are identical
to the items listed in the P&A budget form provided by the Council, and
if the item is not listed here, the Council will make a decision taking into
account the recoupable distribution costs designated by the IFTA.
- in case there are items that cannot be accepted as allowable P&A
items.
- in case there are items in the spent P&A expenses list that are
not supported by proper documents.
○ If the following instances are discovered as a result of the review on the
submitted statement of accounts, the second payment may be reduced. The right
to reduce the amount of the second payment resides fully with the Council.
- in case the P&A total budget expenditures are less than the total
finalized P&A budget submitted to request the first payment.
- in case there are items in the spent P&A expenses that cannot be
accepted as allowable P&A items recognized by the Council.
- in case there are items in the spent P&A expenses list that are
not supported by proper documents.
5. Report on distribution results
○ The report on distribution results shall be made 3 times according to the
schedule below.
○ 1st report
- Covering up to 3 months from the date of release, and should be submitted
within 4 months of the release.
- Contents
① the number of screens and admissions, box office revenues,
all for each week.
② income reserved for the distributor
from the theatrical revenues.
③ strategies on distribution, marketing, PR.
④ articles and reviews - writer, media
that published it, summary of content
⑤ overall review - concentrating on
elements of success and failure
○ 2nd report
- Covering up to 6 months from the date of release and should be submitted
within 7 months of the release.
- Contents
① the number of screens and admissions, box office revenues,
all for each week.
② income reserved for the distributor
from the theatrical revenues.
○ 3rd report
- Covering up to 12 months from the date of release and should be submitted
within 13 months of the release.
- Contents
① the number of screens and admissions, box office revenues,
all for each week.
② income reserved for the distributor
from the theatrical revenues.
○ However, for a month after the release, weekly reports should be made on
the number of screens, box office revenues and the number of admissions.
○ The report shall be made on-line at http://pna.kofic.or.kr .
6. Recoupment
○ The applicant shall recoup the expended amount of P&A cost as agreed in
advance with the Council from the distributor's share of box-office receipts.
This includes the MG paid to the Korean sales company.
○ Should there exist a balance after the applicant recoups its expenditures,
KOFIC shall retrieve it. In such cases the amount retrieved by KOFIC shall
not exceed the original KOFIC fund amount given to the applicant
○ The revenues subject to retrieval by KOFIC are limited to theatrical revenues
raised within 12 months of the cinema release.
○ The amount retrieved by the Council shall be decided according to the 1st,
2nd, and 3rd reports on release results submitted by the applicant, and the
money should be sent to the account designated by the Council within a month
from the date this amount is notified to the applicant.
7. Etc.
○ In case the film is not released within one year from the date on which
KOFIC's decision is notified, the decision is cancelled automatically.
○ Promotional materials, i.e. posters, fliers, invitations to various events
and a DVD or VHS of the local version should be submitted along with the 1st
report on distribution results.
○ The fact that the release has received support from the Council should be
indicated. In case the fund exceeds 50,000 USD the name and logo of the Council
should be included in the opening credits.
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