(Revised version, March 2010)

With the goal of improving the city's image as well as supporting the local film industry, the Seoul Metropolitan Government will provide selected producers with grants in the amount of up to 25% of the production costs (to a limit of 100,000,000 KRW*) for internationally co-produced films and foreign films shot in Seoul. The reimbursement program is conducted by the Seoul Film Commission (SFC, hereinafter). Funds are provided in the form of grants and not investments and as such, the grants need not be paid back to SFC. Producers of all nationalities may apply for the reimbursement

The amount of the grants will be up to 25% of the portion of the production budget spent within Seoul and may not exceed 100,000,000 KRW per production. The grants may be used only toward expenses related with shooting.

Provided, that the above 100,000,000 KRW* limit shall not be applied to a film that satisfies one of the following requirements: (i) more than 1,500,000,000 KRW* has been spent in Seoul; more than 50% of the film shot or shown has been shot in Seoul; or (iii) distribution agreements in no less than 5 countries have been signed.

General Requirements

The film must be shot on location in Seoul for a minimum of 6 shooting days or more, in case of infotainment for a minimum of 4 shooting days or more.

The applicant must be the producer of the film and there is no restriction on the applicant's nationality.

International co-production films shall be eligible only when the minimum financial contribution from each co-producer is over 20% in case of co-production between two countries, and over 10% for each co-producer in case of co-production between three or more countries.

Only feature films, documentaries, and television programs (including but not limited to television films, miniseries, series, sitcoms and infotainment) with the minimum running time of 60 minutes are eligible. The following works are ineligible: News programs not attributable as documentaries, show programs, regional television programs, short and experimental movies, adult video.

Availability Requirements

A signed distribution agreement, or pre-sale agreement, or documentation of the director’s invitations to the following recognized film festivals within the past 5 years (Berlin, Venice, Cannes, Sundance, San Sebastian, Locarno, Karlovy Vary, Moscow, Rotterdam, Toronto) ※ Documentation of the director’s invitations is valid only in respect to one or more feature-length films (over 60 minutes).

Expenses To Which Grants May Be Applied

Location fees

Costs for transportation of staff, cast, equipment, vehicles within Seoul

Accommodation

Labor costs (limited to wages for actors/actresses in minor roles, extras, staff of Korean nationality)

Equipment rental

Catering(meals and snacks)

Other costs of purchasing goods and services for in-Seoul filming (film stock, set decoration, props, expendables, etc.) *Development costs, indirect costs, general overhead of the production companies, postproduction costs are not applicable. **The applicant, after the completion of filming in Seoul, must submit proof of the expenses incurred in Seoul.

In order to determine full eligibility for the program the applicant is requested to consult the Seoul Film Commission before applying (see contact below). At least 4 weeks before the beginning of the shooting in Seoul the applicant must submit the application in writing. Within one month after submission Seoul Metropolitan Government and SFC will notify the applicant about the decision on the application including the amount of the grant, which shall be based on the submitted budget. Within 2 weeks after the notification, the applicant and SFC shall enter into an agreement concerning the payment of the grant.

Materials to be submitted to apply

Application form

Scenario and theatment

Detailed Seoul budget in Korean Won

Detailed shooting schedule

Other information the applicant finds useful for the decision-making, e.g., the descriptions of actors, staffs, and distributors, if applicable.

Additional documents: signed distribution, pre-sales agreement or documentation of the director’s film festival invitations ※ All documents have to be submitted in 2 originals except for the additional documents which can be in copy). The application has to be submitted to: Seoul Film Commission, Inseong Bldg. 2F, 51-3 Chungmuro-2-ga, Jung-gu, Seoul, 100-861 Korea. Applicant is requested to email application form, Seoul budget form and treatment to mark@seoulfc.or.kr ※ The application as well as all attached documents (treatment, scenario etc.) have to be submitted either in English or in Korean. No other language is applicable. ※ Once a project is approved to receive support, any major changes in budget, schedule, cast, staff list, etc. must be reported to SFC prior to the beginning of the shooting. ※ The signed distribution or pre-sales agreements do not have to be submitted together with the application but must be submitted by or along with the submission of the proof of Seoul expenses after the shooting.

The selection and the amount of the grant shall be decided by a selection committee (jury) composed of the Seoul Metropolitan Government and SFC which will make selection based on whether the applying project meets the purposes of the support program. Meeting the general requirements does not guarantee the selection. The minimum support percentage is 10% of the total costs spent in Seoul (all expenses purely referring to the shooting in Seoul). Support percentages from 10% to 25% will be decided according to the marketing effect for the city and the economic impact (employment of Korean staff). The decision will be made by Seoul Metropolitan Government together with SFC after overall examination. Grants will be given out in the first place according to a first come first serve policy, and in the second place in accordance with the anticipated publicity impact and the economic impact.

After the agreement has been signed, as to the projects for which a performance bond certificate is submitted, 50% of the grant amount shall be paid upon confirmed submission performance bond certificate, and the remaining 50% after the principal photography in Seoul is completed upon submission of the documents of proof of the expenses incurred in Seoul (final accounting documents) and the signed distribution or pre-sales agreements or the film festival invitation records. A departure from the budget submitted for grant amount determination during its execution is allowed up to 10% and the amount of second payment will change accordingly. The grant shall be paid in Korean currency.

In case the performance bond certificate is not submitted after the execution of the agreement, the signed distribution or pre-sales agreements or the film festival invitation records have to be submitted in order for the audit of the documents of proof of the expenses incurred in Seoul (final accounting documents) to begin. Generally, the full grant amount will be paid within 8 weeks after the commencement of the confirmation process, assuming that the full submission has been made.

All documents of proof of the expenses incurred in Seoul (final accounting documents) have to be submitted within three months after completion of the shooting in Seoul or one month after completion of all shooting (crank-up). In case final accounting documents cannot be submitted within the above mentioned timeframe a written letter has to be submitted explaining the reasons for the delay. After careful judgment the timeframe for submission of the final accounting documents can be prolonged.

Any departure from the budget is permitted only up to 10%. If there is any greater change, the changed budget shall be submitted to SFC and after a revaluation the new amount of the grant shall be decided.

In the end credits of the film, the logos of SFC and the Seoul Metropolitan Government must be inserted under the headline 'This film was supported by' or 'Supported by' in the format designated by SFC. After the film has been completed, a DVD or a VHS copy of the final version, still photos in print quality and promotion poster must be sent to SFC, which shall use them for non-commercial purposes only. The applicant is requested to report on the development of international distribution (country/territory, distributor, media (theatrical/TV/DVD/VoD etc), and release/broadcast date), invitation to international film festival or other relevant events to SFC within 2 years after receipt of the support grant.

In case any further questions arise please contact SFC.

Contact person: Mark Siegmund, mark@seoulfc.or.kr, Nina Jung, nina@seoulfc.or.kr Phone: +82 2 777 7184, Fax: +82 2 777 7097 *Average currency exchange rate March 2010 1 US$ = 1,149.49 KRW (Korean Won)) 1,000,000 KRW = 870US$ 100,000,000 KRW = 89,000US$ 1,500,000,000 KRW = 1,305,000 US$