Busan Market Chief Calls for ACFM 365, Flags Public Funding Gap

Why ACFM Needs a Year-Round Model

The Asian Contents & Film Market (ACFM) has become a pivotal gathering for creators, distributors and investors across Asia. Held annually in Busan, the event currently spans four days of screenings, panels and matchmaking sessions. Ellen Y.D. Kim, the market’s chief, argues that this limited timeframe restricts the industry’s ability to forge lasting partnerships and to respond to fast‑moving market trends.

Limitations of the Four‑Day Schedule

Four days allow for a high‑energy showcase, yet they also create a bottleneck. Producers often leave with only a handful of contacts, and many promising projects remain undiscovered because the schedule does not accommodate multiple rounds of negotiation. Moreover, the compressed agenda forces participants to prioritize certain genres or regions, leaving niche content under‑represented.

Benefits of a Continuous Platform

A year‑round structure, branded as ACFM 365, would transform the market from a once‑a‑year event into an ongoing ecosystem. The proposed platform would include:

• A searchable database of scripts, finished films and production services.
• Digital matchmaking tools that pair buyers with sellers based on genre, budget and target audience.
• Regular virtual panels that address emerging topics such as streaming rights, AI‑generated content and cross‑border co‑production.
• On‑demand access to market reports and audience analytics.

These features would enable creators to pitch projects at any stage, reduce the pressure of a single deadline, and increase the overall volume of deals.

Public Funding: A Stalled Engine

Kim’s push for ACFM 365 is accompanied by a stark warning: public financing for the market has not kept pace with its expanding ambitions. While the Korean Ministry of Culture, Sports and Tourism allocates funds to support cultural events, recent budget reports indicate that the share dedicated to ACFM has remained flat over the past three years.

In a recent Variety report, Kim explained that the market’s growth in participant numbers and international visibility has outstripped the modest increase in public subsidies. She emphasized that without additional support, the market risks losing its competitive edge to regional rivals that benefit from stronger government backing.

Comparative Funding Landscape

Other Asian film hubs, such as Shanghai and Tokyo, receive dedicated cultural grants that cover venue costs, translation services and travel stipends for emerging filmmakers. The Korean Ministry of Culture, Sports and Tourism has introduced new cultural promotion funds, yet ACFM has not been a primary beneficiary.

According to the Korea Creative Content Agency, the domestic creative industry contributed over $10 billion to the national economy in 2023. ACFM’s role in that ecosystem is significant, but the agency’s data also shows that market‑related subsidies represent less than 2 percent of the total cultural budget.

Strategic Vision for ACFM 365

Kim outlines a three‑phase rollout for the year‑round platform.

1. Phase One – Digital Infrastructure: Build a secure, multilingual database that houses project dossiers, contact information and market analytics. The system would integrate with existing ticketing and registration tools used during the physical event.
2. Phase Two – Continuous Engagement: Launch monthly virtual roundtables featuring industry veterans, government officials and technology experts. Topics would range from co‑production incentives to distribution strategies for emerging markets.
3. Phase Three – Hybrid Expansion: Introduce regional satellite events in Seoul, Taipei and Hong Kong that feed into the central ACFM 365 hub, allowing local creators to showcase work without traveling to Busan.

This roadmap aligns with global trends where film markets are increasingly adopting hybrid models. The UNESCO Creative Economy report notes that digital platforms can boost cross‑border collaborations by up to 30 percent, a figure that ACFM could replicate with the right investment.

Industry Reaction and Stakeholder Support

Producers, distributors and streaming platforms have expressed strong interest in a permanent marketplace. A survey conducted by the Busan International Film Festival in early 2024 revealed that 78 percent of respondents would increase their participation if ACFM offered year‑round services.

However, some critics caution that expanding the market could dilute its brand if not managed carefully. They argue that the exclusivity of a four‑day event creates urgency and media buzz that a perpetual platform might lack.

Kim acknowledges these concerns and stresses that the core identity of ACFM – a high‑impact showcase of Asian content – will remain intact. The year‑round component is intended to complement, not replace, the flagship event.

Path Forward: Funding Proposals and Policy Advocacy

To bridge the funding gap, Kim proposes a multi‑pronged approach:

• Negotiating a dedicated line item in the national cultural budget for ACFM 365 development.
• Seeking co‑funding from private sector partners, including major streaming services that benefit from early access to Asian content.
• Applying for international grants that support cultural exchange and digital innovation.

She also plans to convene a task force composed of government officials, industry leaders and academic researchers to draft policy recommendations. The goal is to present a unified proposal to the Ministry of Culture by the end of the year.

Implications for the Asian Film Landscape

If realized, ACFM 365 could reshape how Asian films reach global audiences. Continuous matchmaking would shorten the time between project conception and market entry, allowing creators to respond swiftly to audience demand. Moreover, a robust digital archive would preserve the region’s cinematic heritage, providing scholars and fans with unprecedented access to works that might otherwise remain obscure.

For emerging markets such as Vietnam, the Philippines and Myanmar, a year‑round platform offers a gateway to larger distribution networks. By lowering barriers to entry, ACFM 365 could foster a more inclusive and diverse Asian film ecosystem.

Ultimately, Ellen Y.D. Kim’s vision hinges on aligning public policy with industry momentum. As the market continues to attract international attention, the question remains whether the Korean government will match that enthusiasm with sustained financial commitment.