Korean movie fetches landmark price

'Sookmyeong' bought for $2 million

SEOUL — Investment company nTorino Corp. has made a $2 million pre-sale of Korean film “Sookmyeong” to Japan’s Formula Entertainment.

Pic stars well-known actors Kwon Sang-woo and Song Seung-heon, considered two of the key faces of the Korean Wave given their success in TV dramas and film. Actor-helmer Kim Hae-gon (“Between Love and Hate”) directs.

The sale is by far the highest price recorded for a Korean film export in 2007. In the first six months of the year, the total value of 148 sales deals added up to only $7.5 million.

Nonetheless, the figure is well below that of the sums paid when the Korean Wave was at its height in 2005, when a single film with a name star could fetch upward of $4 million.

Shooting on the pic, which focuses on the tangled destiny of four friends, is 50% complete.

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