The 30th Busan International Film Festival (BIFF) wrapped up its 10-day run on Friday, marking a milestone achievement as Asia's premier cinematic event and successfully launching its debut as a competitive film festival. Despite ongoing challenges in the domestic film industry, this year's festival attracted a total of 175,889 visitors, representing an increase of approximately 20,000 attendees compared to last year's event. The festival introduced its groundbreaking competitive section, the Busan Award, as it enters its fourth decade of celebrating cinema.
The grand finale took place at the outdoor stage of the Busan Cinema Center, where the inaugural Busan Award winners were officially announced. The prestigious Best Film Award, considered the festival's top honor, was presented to Chinese director Zhang Lu for his film "Gloaming in Luomu." The movie received unanimous selection from the jury, and Zhang, who previously won the festival's New Currents Award for emerging filmmakers in 2005, expressed his profound connection to the festival during his acceptance speech.
"I stand here again after 20 years," Zhang said emotionally. "I hope to be on this stage when BIFF celebrates its 100th anniversary." His winning film, "Gloaming in Luomu," depicts a woman's emotional journey as she traces the presence of a former lover in a small Chinese town. The film received praise from the jury, which was chaired by renowned director Na Hong-jin, for its experimental filmmaking approach and insightful exploration of human beings struggling with themes of love and loss.
Jung Han-seok, director of the film festival, celebrated the success of the newly introduced competitive section, stating, "The first step of the newly introduced competitive section has been successful." He emphasized that the festival would use this year's achievements as a foundation for future growth and development. Actor Claudia Kim served as the master of ceremonies for the closing ceremony, which took place at the outdoor stage of the Busan Cinema Center.
Festival organizers revealed impressive final statistics during a press conference held before the closing ceremony, highlighting the event's significant growth and international reach. The numbers showed that 175,889 audience members watched a total of 328 movies throughout the festival duration, while approximately 63,000 visitors participated in various events held across Busan. These figures demonstrate the festival's expanding influence and growing popularity among both industry professionals and general audiences.
The Asian Contents & Film Market (ACFM), which serves as a crucial indicator of the festival's industrial competitiveness and commercial viability, achieved record-breaking results this year. The four-day market event attracted an all-time high of 30,006 participants representing 54 countries and 1,222 companies, showcasing the festival's growing international significance in the global film industry.
ACFM Director Kim Young-deok highlighted the market's global reach as its primary strength, noting that 60 percent of the registered industry professionals were overseas attendees. "ACFM can now be highlighted as the most global platform in Asia," Kim said, emphasizing the market's role in connecting international filmmakers, distributors, and industry professionals. This international participation underscores BIFF's evolution into a truly global cinematic event.
However, concerns regarding the festival's financial sustainability were addressed by the organizing committee during the press conference. The festival operated on a total budget of approximately 13 billion won ($9.2 million) this year, but organizers noted that the proportion of government support has declined significantly over recent years.
BIFF Chair Park Kwang-su revealed that government funds now constitute less than 4 percent of the total budget, representing a dramatic decrease from 20 percent in 2022. He drew comparisons to other world-renowned festivals, stating, "World-renowned festivals like Cannes, Venice and Berlin are known to receive more than 50 percent of their budgets from government and local authority support." Park stressed that the festival must increasingly rely on external sponsors such as Chanel, Netflix, and Genesis to maintain its operations and continue its growth trajectory. He urged the government to provide more proactive financial support to help BIFF solidify its position as a leading global film festival and maintain its competitive edge in the international cinema landscape.
