Korea Box Office: ‘Swordsmith Village,’ the Latest ‘Demon Slayer’ Franchise Film, Takes Weekend Honors

Patrick Frater Asia Bureau Chief Taiwan has become a go-to destination for Chinese language series production over the past few years, as international streamers have taken the initiative and as the local content trend has become entrenched in Asia. While some of Taiwan’s advantage may have been handed to it as a result of regional political factors, the movement has led to greater interest in Taiwan stories, both historical and modern.Five Taiwan TV projects are being pitched at Series Mania, that are deemed to have international appeal according to Taiwan Creative Content Agency (TAICCA), a government-backed agency that has become noticeably proactive over roughly the same period.

Patrick Frater Asia Bureau Chief Hybe Corp., the talent powerhouse behind K-pop sensation BTS, said on Friday that it will sell its share stake in agency rival SM Entertainment. The move would finalize Hybe’s admission of defeat in a dramatic takeover battle in which it was out-gunned by Korean tech leader Kakao Corp. Hybe initially bought a 14.8% stake in SM in February from SM’s founder and K-pop pioneer Lee Soo-man. Hybe expected to be able to buy the remaining 3% tranche held by Lee according to agreed conditions and then launched an open offer to other shareholders to buy a further 15%. But SM’s management opposed Hybe’s quasi-takeover and harnessed Kakao and its subsidiary Kakao Entertainment with a range of measures. These included a content distribution deal and the sale of newly issued shares and bonds to the Kakao pair.

Patrick Frater Asia Bureau Chief Multi-territory Asian streaming platform Viu is to deliver a Thai version of hit drama series “Reborn Rich.” The 16-episode Korean drama was produced by Korea’s JTBC Studios and Viu, aired on JTBC in Korea between November and December 2022 and was branded as a Viu Original in the 16-territoires in which it operates. Its story sees a long-term employee of a large family-run conglomerate falsely accused of embezzlement. After he is shot on an overseas business trip, he finds himself in the body of the family’s grandson and decides to use his new identity as a means by which to take revenge on the family and the corporation.

Patrick Frater Asia Bureau Chief Streaming platform Paramount+ has set a release date for Korean series “Yonder” that is one of the first titles flowing from Paramount Global’s alliance with CJ ENM. The show will premiere on April 11 in the U.S., Canada, U.K., Australia, Latin America, Brazil, Italy, Germany, Switzerland, Austria and France.  Set in 2032, “Yonder” is a science fiction-drama series about a man who receives a message from his deceased wife inviting him to a mysterious space. The space is designed for the dead to be able to live on by uploading memories of their lifetime from their brain. The show raises questions about life and death and what it means to have eternal happiness as humanity faces a world altered by advancements in science and technology.

Patrick Frater Asia Bureau Chief Leading South Korean actor Yoo Ah-in, star of “Burning,” “The Throne” and Netflix series “Hellbound,” must report to the police on Friday in connection with the alleged use of a variety of drugs. Allegations of Yoo’s drug use emerged a month ago and he has previously spoken with authorities. The Yonhap news agency now specifies that he will be considered as a criminal suspect when he presents himself to the Seoul Metropolitan Police Agency on Friday. It is unclear whether Yoo will be formally arrested at that time. Yoo became a person of interest in early February after the Ministry of Food and Drug Safety revealed that he had bought suspicious quantities of the sedative Propofol in a series of purchases starting in 2021. Propofol is a strong sedative that can also be used as an anesthetic. The authorities have looked into several doctors’ offices and clinics in Seoul that may have administered the drug.

Patrick Frater Asia Bureau Chief “Like & Share” from Indonesia’s Gina S. Noer was named the best picture and collected the Grand Prix on Sunday at the Osaka Asian Film Festival. “All of us on the jury were struck by the film’s clear and powerful message, which affirms young women’s sexual curiosity and desire while clearly saying no to sexual violence. The style of the film is also original. The sweet, poppy feeling that fascinates the audience in the first half of the film becomes darker as the story progresses, making us shudder. “Like & Share,” with its strong message and brilliant direction, is a film that needs to be seen now more than ever,” said the jury in a statement.

Patrick Frater Asia Bureau Chief Japanese animation “Suzume” retained the top spot at the South Korean box office for a second weekend, far outstripping holdover titles and newcomers including “Shazam! Fury of the Gods.” On its second weekend of release, “Suzume” earned $5.65 million, just a small fraction below its opening weekend score of $5.71 million. Underlining its dominance, the film increased its market share from 60% previously to 62%. After 12 days of release, the film has accumulated $15.8 million, according to data from Kobis, the tracking service operated by the Korean Film Council (Kofic).

J. Kim Murphy “Shazam! Fury of the Gods” is thundering to a No. 1 opening at the box office, though the DC Comics adaptation is expected to fly in lower than its predecessor. “Fury of the Gods” grossed $11.7 million in opening day ticket sales, a figure that includes $3.4 million in Thursday previews. That’s almost half of the $20.3 million that the 2019 original earned in its first day of release, on its way to a $53 million bow. “Fury of the Gods” carries a production budget of $125 million, which is $25 million higher than its predecessor’s. Opening in 4,071 theaters, the superhero sequel will likely struggle to reach a $30 million debut. With DC Studios under the newly minted leadership of Peter Safran and James Gunn, “Shazam! 2” represents somewhat of a relic of a bygone regime for the comic book banner. While a film like “The Flash” was also conceived before Safran and Gunn’s tenure, the pair of CEOs have often declared their conviction in the quality of the upcoming Ezra Miller film. Chatter around the “Shazam!” sequel has been much quieter.

Patrick Frater Asia Bureau Chief U.K.- and Hong Kong-based company Phoenix Waters Prods. has formally partnered with Hong Kong’s Agog Films to create Phoenix Waters Asia, a new venture aimed at increasing content production in Asia. The venture was announced on the sidelines of a film investment conference held Tuesday in Hong Kong at the FilMart rights market, where Phoenix Waters Prods. CEO Bizhan Tong was a speaker. The two companies previously collaborated on “Chungking Mansions,” an ambitious pan-Asian action film on which Tong is director, and where production was previously scheduled for last year. Tong told Variety that lensing will start later this year, “after address any issues that could hinder filming in Hong Kong.”

Patrick Frater Asia Bureau Chief The Far East Film Festival in Udine, Italy, is back in full force in 2023, celebrating its 25th anniversary edition from April 21–29. A key component of the celebrations will be a focus on the Asian films of the 1980s. “We have never programmed these films, nor put together this kind of program before,” says Thomas Bertacche, the FEFF’s co-head. “But these were the films and directors that inspired us to shape Udine into the festival that it is today.” Pitching the historical lineup as “hidden treasures,” the selection is expected to include early works by Japan’s Kurosawa Kiyoshi, Thailand’s Nonzee Nimibutr and South Korea’s Jan Sung-woo.

Patrick Frater Asia Bureau Chief The much-decorated Japanese drama “Drive My Car” was named the best film Sunday at the Asian Film Awards, defeating hot favorite “Decision to Leave.” Other notable awards went to Japan’s Hirokazu Kore-eda whose “Broker” debuted at Cannes, but which was largely shunned in his home country. “Decision to Leave,” which started the evening with ten nominations, was nevertheless rewarded with three awards, best screenplay, best production design and best actress for China’s Tang Wei.

Patrick Frater Asia Bureau Chief Korean tech giant Kakao has gained the upper hand in the battle for control of K-pop agency SM Entertainment, after HYBE Corp., the firm behind music idols BTS, said Sunday that it had called off its takeover bid. SM is the second largest talent Korean music talent firm and is behind music acts including Super M, Aespa, BoA and Red Velvet, Girls’ Generation, H.O.T., EXO, Super Junior, SHINee and NCT Dream. HYBE said on Sunday that it will “discontinue the acquisition process […] after observing that the market has been showing signs of overheating due to competition with both Kakao and Kakao Entertainment,” something that it said could “damage shareholder value.”

Patrick Frater Asia Bureau Chief CJ ENM is putting an emphasis on TV content over feature film at the upcoming FilMart rights market in Hong Kong. The South Korean behemoth, which operates multiple studios and the TVing streaming platform, is touting at least six shows and formats. Sebastian Kim, the group’s director of international content sales and acquisition, will also be taking part in a Monday morning seminar “Spotlight Conversation: The Asian Wave in 2023 and Beyond” at FilMart. His lineup is headed by “The Heavenly Idol,” a fantasy, romance series which sees a priest from a different era transported to the present day as a pop idol. His training makes him a hopeless celebrity, but he has to learn to adapt. Starring Kim Min-gue and Go Bo-gyeol, the 12-part series began airing mind-February on tvN.

Patrick Frater Asia Bureau Chief Warner Bros. Discovery and Japan’s U-Next have announced an extension of their relationship with a renewed deal to supply content to the SVOD platform. The agreement sees U-Next continue as the streaming home of HBO in Japan. Featuring exclusive content rights for HBO, HBO Original and HBO Max Original series, the strengthened agreement includes: current and future seasons of HBO’s “House of the Dragon,” “The Last of Us” and “Succession” as well as returning HBO Original and HBO Max Original series “True Detective: Night Country,” “Winning Time: The Rise of the Lakers Dynasty” and “And Just Like That…”

Patrick Frater Asia Bureau Chief Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) has increased its stake in Japanese film and TV studio Toei Company, from 5% to 6.03%, according to a report by the Reuters financial news agency. The move comes shortly after Toei published a ten-year plan for international expansion. Toei includes film and TV production operations, the T-Joy cinema chain and Toei Animation. Last month, it said that it had beaten its film revenue record, thanks to the success of titles including “The First Slam Dunk,” “The Legend of Butterfly” and “One Piece Film Red.” The stake increase also follows PIF’s February announcement that it had increased its stake in Japanese games and console maker Nintendo to 8.26% and that (along with the Singapore state fund GIC) was a buyer of a $966 million bond issue from Korean entertainment-tech firm Kakao Corp.

Patrick Frater Asia Bureau Chief Global streaming operation Netflix is forecast to spend $1.9 billion on local content in the Asia-Pacific region this year as group revenue from the region accelerates to 12%, according to a new report. The content investment spending figure represents a 15% hike. Netflix will grow revenues this year by 12% year-on-year to exceed $4 billion compared with 9% growth in 2022, says a new report published on Monday by Media Partners Asia.

Aniplex and Crunchyroll of America’s Demon Slayer: Kimetsu no Yaiba – To the Swordsmith Village grossed $10.1 million this weekend in 1,780 theaters. That’s a fourth place finish at the domestic box office but still half the opening of Demon Slayer:  Kimetsu No Yaiba – The Movie: Mugen Train which opened to a smash $21 million U.S. in April of 2021, going head to head with Godzilla vs. Kong, Mortal Kombat.

Patrick Frater Asia Bureau Chief Netflix and Korean public broadcaster MBC on Thursday defeated a court application for an injunction to stop the airing of their documentary “In The Name of God: A Holy Betrayal.” The 8-part series began airing from Friday (March 3). It is a Netflix Original, meaning that the streamer has global rights, including in Korea. The show examines “the chilling true stories of four Korean leaders claiming to be prophets [and] exposes the dark side of unquestioning belief.” Among its subjects is Christian Gospel Mission, also known as Providence, and also known as Jesus Morning Star, or JMS. It shares those initials with its controversial leader Jeong Myeong-seok (aka Jung Myung-seok) who is currently awaiting trial in Korea for sexually assaulting some of his female followers.

Patrick Frater Asia Bureau Chief HYBE Corp., the talent firm behind K-pop sensation BTS, has launched a campaign to woo the shareholders of SM Entertainment, the rival Korean talent empire in which it is poised become the largest single shareholder. In a letter and video package, issued Thursday, HYBE said that it was launching a campaign website detailing its business strategy and the ways in which it plans to prioritize SM shareholders. The documents directly criticized SM’s current management and also struck out at Korean entertainment-tech giant Kakao, with which SM has recently struck an alliance.

Patrick Frater Asia Bureau Chief “Ant-Man and the Wasp: Quantumania” held on to top spot at the South Korean box office. But the overall market continued to soften despite a slew of new release titles. Nationwide theatrical grosses totaled just $7.26 million. That made it the slowest box office weekend in over three months. “Quantumania” collected $2.0 million between Friday and Sunday, according to data from Kobis, the tracking service operated by the Korean Film Council (Kofic), and enjoyed a 27% market share. The second weekend increment lifted its 12-day total to $10.6 million. Long-running Japanese animation title, “The First Slam Dunk” earned $1.36 million in its eighth weekend on release. Since Jan. 4 it has accumulated $28.0 million.