Korean drama crisis

Oh, say it isn’t so! Does this spell the end of Korean dramas?

Stars are reportedly demanding sky-high salaries resulting in production companies being on the verge of bankruptcy. Also, it has been noted that overseas demand for K-dramas is taking a plunge while domestic viewers are getting their entertainment high elsewhere.

The news was announced on Friday by the Corea Drama Production Association (CODA), which is made up of some 40 major drama production houses.

It is reported that actors and writers earn about W30mil (RM112,060) per episode. Thus, the average production cost per episode has increased to W150mil (RM560,299) compared to W90mil (RM336,180) four or five years ago.

Apart from that, exports are also declining. According to the Korean Broadcasting Institute, Korean soaps earned US$101.62mil (RM354mil) in 2005, but only fetched US$85.891mil (RM299mil) in 2006, the first time drama exports decreased since 2000.

Researchers claim that the downward trend is likely to stay.

Oh, 어떻게? 어떻게?

Full report here.

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