The Icelandic film industry will feted at the upcoming 37th edition of Goteborg Intl. Film Festival, Scandinavia’s biggest film fest, as part of the annual Nordic Focus tribute.

Baltasar Kormakur, Iceland’s best-known helmer/producer who’s now also working in Hollywood, will receive the inaugural Nordic Honorary Dragon Award.

Repped by WME and attorney Peter Nelson, Kormakur’s credits include “The Deep,” the previous Icelandic candidate for the foreign-language Oscar, and “Two Guns” with Denzel Washington and Mark Wahlberg. He’s also reportedly set to direct Christian Bale in Universal’s disaster movie “Everest.”  While leading a prolific career in the U.S., Kormakur is also, via his outfit RVK Studios, a leading force within the Icelandic film biz, producing ambitious local movies and TV series, such as real-life survival tale “The Deep” and the skein project “Vatnajokull.”

“Whether Iceland’s economic turmoil has spurred the creativity of the country’s filmmakers in a question we’ll unanswered. But the fact is that this year the country has produced a number of very well-made, original and artistic films of high-quality. Each of them manifests Iceland’s distinct character in a refreshing and personal way,” stated the fest.

As part of the Nordic Focus, two Icelandic pics, Ragnar Bragason’s “Metalhead” (“Malmhaus”) and Benedikt Erlingsson’s “Of Horses and Men” (“Hross i oss), will be competing for the best film nod.

Erlingsson’s movie succeeds “The Deep” as Iceland’s candidate in the Oscar’s foreign-language race. 

Fest, set to run Jan. 24-Feb. 3, will also host a retrospective spanning 20 years, including Kormakur’s “101 Reykjavik,’ Fridrik Thor Fridriksson’s “Movie Days”  (“Biodagar”) and Valdis Oskarsdottir’s “Country Wedding” (Sveitabrudkaup).