The 30th Busan International Film Festival concluded the 10-day run with record attendance, but under a star-studded red carpet and a festive atmosphere, the landmark version lit up the spotlight on the industry in transition. From the crisis facing Korean cinema to the competitive transformation of festivals, here are five key takeaways that have emerged from Biff 2025.
The headline was the crisis in Korean films
Far from whispering in the hallways, the Korean cinema crisis was the forefront and center of Biff as a whole, with industry leaders using platforms to openly diagnose challenges and seek solutions. South Korea’s box office grossed around $293 million in the first half of 2025, according to figures from the Korean Film Council. August saw some sort of revival before the fall onset witnessed more stagnation. A shortage of domestic blockbusters, increased competition from streaming platforms, and consumer belt tightening are the drivers of a slump that could raise one of Asia’s most dynamic theatre markets. The industry is currently facing existential threats to the theatre culture of its former days.
Opening film director Park Chang Wook told Variety: “I don’t think that’s a movie crisis. It’s a movie theater crisis. But I think the movie theater crisis is actually a movie crisis.”
At the Winston Baker Panel in Busan Market, CJ Enm’s Jeriko spoke about the challenges facing Korean films, saying, “The marketing environment has changed dramatically” and “The blockbuster model that led South Korea’s growth in the 2010s has stopped working the same way.” He explained that marketing channels have been fragmented and have moved from traditional television and broadcasts to Instagram, social media and YouTube, “it’s difficult for blockbuster movies to spread information to many people.” KO also discussed the fundraising challenges, saying “capital markets are generally stagnating,” and that “investment fundraising is increasingly hesitant to invest.”
Festival Chair Park Kwan Soo acknowledged the seriousness during the Indian and Korean event, saying, “Now, the Korean film industry is going through a very challenging period.”
One of the solutions looks like co-production. Major Korean companies like CJENM and Hive are ties with hive companies with the vibrant Indonesian market. At the same Indian and Korean event, Busan Market Chief Ellen YD Kim said, “We look forward to seeing Korea, Indian films and all Asia working together more closely to create new stories for the future.”
Netflix and Hollywood agents bet on Asian territory
Netflix still played the strongest for Asian domination in Busan, providing the festival with the most notable slate. The streaming giant has partnered with BIFF to announce Creative Asia 2025, a one-day industry summit featuring Korean genre Master Yong Sangho and “KPOP Demon Hunter” creator Maggie Kang.
Beyond summit programming, Netflix had nine titles of slate at the festival. There are Noah Banbach’s “Jay Kelly,” Guille Model Toro’s “Frankenstein,” Kathryn Bigelow’s thriller “The House of Dynamite,” and Byen Sung Hyun’s “Good News.”
UTA is making the most ambitious Asian expansion, with senior partner David Park unveiling the agency’s multifaceted strategy. “Our Asian plans are ambitious,” Park told Variety ahead of UTA’s annual Biff party. “We’re not just thinking about what business we can bring to the US, but we’re still able to work with some of the greatest Asian artists to expand our global footprint.”
The UTA strategy is concentrated in Korea as a priority, with Japan nearby spreading through music and mediam talents to the Philippines, Vietnam, India and Indonesia. The agency aims to be a “true partner of multiheifen across the region,” covering music, brand partnerships and corporate consulting beyond traditional expression.
The Motion Picture Association has built a bridge to Hollywood workshops through the Chanel X Biff Asian Film Academy, with “Rio” director Carlos Sardin serving as a judge, reflecting the growing interest in America in developing an Asian talent pipeline.
Markets navigate calendar challenges
Moved from Biff’s traditional October slots from September 17-26, the Chuseok on the Korean autumn holiday had to fall to the regular date of the festival, creating logistical challenges throughout the international festival ecosystem.
The new date meant that Biff continued closely after Toronto and overlapped with San Sebastian. Most notably, the European film promotion delegation, which only allowed 18 traditional European companies to be dispatched! Several European sales companies have cited calendar conflicts and proximity to San Sebastian, and are now under the umbrella of Asian content and film markets compared to the usual 30.
However, ACFM still achieved record-breaking figures with 30,006 participants, up 13.5% from 2024. Market badges reached 3,024 participants from 54 countries, showing an increase of 14.3%. ACFM Head Ellen YD Kim told Variety that ACFM “evolves beyond just trading venues and is evolving into a dynamic intersection where creators, investors and platforms come together to stimulate new opportunities by reflecting the Asian content landscape.”
The compacted European presence was offset by increased regional participation in Asia, with India establishing its first pavilion in the market through the wave bazaar Bharat Pavilion, while Indonesia has been present in ACFM in recent years.
The competition section shows historical transformation
The launch of Biff’s first-ever competitive section represents the festival’s most dramatic transformation since its inception in 1996. Festival Director Jung Hanseok has integrated the Kim Jiseok program with the long-standing new current to create a more impactful platform exclusively for Asian films.
“We realized that our two representative sections, the new current and the Jiseok section, have reached their limits in terms of influence,” Jung explained to Variety. Chaired by “The Chaser” director Na Hong-Jin, the competition judges that make up Tony Leung Ka-Fai, Nandita Das, Marziyeh Meshkiny, Kogonada, Yulia Evina Bhara and Han Hyo-Joo have significantly increased the profile of the section.
The award trophy, designed by Palme D’Or winner Apichatpong Weerasethakul, added artistic gravity to the minutes. The Grand Prize Winner’s choice as a closing film marked another break from tradition. The competitive photocall ceremony at Busan Cinema Centre attracted a considerable audience and established a new format as a tent pole event.
Star power is completely restored
Biff 2025 offered an epic guest lineup, achieving record attendance of 238,697. This is an increase of approximately 20,000 from the previous year. From Blackpink’s special guest lisa, Michael Mann, Marco Bellocchio, Guillermo del Toro, Sean Baker, Juliet Binoce, Nishijima Hidetosi, Kim Minha and Tony Leon Ka Fai, the festival attracted unparalleled talent.
The festival’s competition section brought a prominent victory, with Zhang Lu’s “Gloaming of Luomu” earning the best film honors, and Taiwanese actor Shu Qi earning the best director of her directorial debut “Girl”. Shu Qi was on a double mission at the festival starring Netflix’s “The Resurrected.”
The opening ceremony’s red carpet is bustling with energy as Lee Byung-Hun, the star of opening film No other Choice and fresh from the global success of Squid Game. The festival welcomed notable award recipients such as Jafar Panahi (Asian Filmmaker of the Year), Sylvia Chang (Camellia Award), and Chung Ji-Young (Korean Film Award).
Alongside actor Sing Yi-woon, the appearance of Guillermo del Toro was particularly pleased with the audience and attracted a lot of attention on social media. The festival’s 323 guest visit sessions spanning 67 events created many opportunities for viewer interaction.
The masterclass with Mann and Kogonada attracted the crowds of capacity, but the actor’s home program featuring Lee Byung-han, son Ye-jin and Ninomiya Kazunari was particularly popular. Robust programming has helped Biff achieve the highest attendance in recent years, strengthening the festival’s position as an important launchpad for Asian cinema despite the Korean industry tackling unprecedented challenges.
