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National Incentive
Korean Film Council (KOFIC)
Korean Film Council (KOFIC)
UP TO 25% CASH REBATENational Incentive - KOFIC Location Incentive
The Korean Film Council offers to support up to 25% of the expenses spent in Korea for International co-production films (feature film, documentaries) which fulfill the legal standard, and films, series and documentaries developed and produced by a foreign production company, in which the allocation of foreign capital in the production cost exceeds 80%. Experience KOFIC’s incentive program! For more details visit
www.kobiz.or.kr
Up to 25% Cash Rebate on Production Costs
KOFIC offers up to 25% cash rebate on production expenditures for Korean filmmakers and companies.
The grant amount shall be determined by taking into account the remaining grant program budget on the date of the application.
Eligible Works
International co-production films (feature film, documentaries) which fulfill the legal standard
※ Legal Standard: At least 20% of the total co-production budget for 2 countries, 10% of the co-production budget for 3 countries.
Films, series and documentaries developed and produced by a foreign production company, in which the allocation of foreign capital in the production cost exceeds 80%
Shooting must be completed within the year
※ Priority for co-production films and works eligible for grant settlement within the year
- - 25% : Shoot more than 10 days in Korea, Spend more than 800 million KRW
- - 20% : Shoot more than 5 days in Korea, Spend between 100 million KRW and 800 Million KRW
- ※ Project Budget: 1,024 million KRW
- - Up to 300 million KRW per work
Must receive approval from the Evaluation Committee who will evaluate, among other things, the following three elements:
- (1) the degree to which the project utilizes Korean locations and engages with Korean companies("Korean Infrastructure Utilization");
- (2) the degree to which the project utilizes Korean resources("Korean participation"); and
- (3) the project's potential for global success and artistic qualities("Quality of project ")
Eligible Applicants
A corporation organized and registered as a business in Korea meeting the following requirements:
(1) A film producer or a video producer recognized under the Promotion of The Motion Pictures And Video Products Act.
(2) For international co-production films, fulfill the legal standard and must be a company who has signed with a foreign production company on a co-production agreement.
(3) For foreign audio-visual works, there must be a company who has signed with a foreign production company on a production service agreement, and thereby provides services necessary for in-Korea production of a foreign audio-visual project and operates and manages the relevant financial account for the production. This company must not be a Korean subsidiary of or a Korean company invested by a foreign production company. Provided that, the aforesaid foreign production company shall not be a Korean company’s overseas branch or owned more than 50% by a Korean company, its foreign subsidiary or a Korean person.
Application Process
* For more details, visit www.kobiz.or.kr
(Last updated on April 4th, 2024)