South Korea's government has unveiled a series of measures designed to boost the country's influential but coronavirus-battered film industry.
Central to the policy plan is a decision to exempt major cinema chains from paying into South Korea's movie development fund.
Under local law, large movie theater chains usually are required to pay 3 percent of all ticket sales to the Korean Film Council's movie development fund, which is used to support the local industry's development in various ways.
The fund typically generates about $45 million in contributions per year. The new exemption will apply retroactively from February.
Read more on hollywoodreporter.com
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