Film producers and major talent agencies have agreed to cooperate to cap actors' appearance fees at below 10 percent of net production costs for state-backed mid- and low-budget films, in a bid to revive the country's struggling film industry, the culture ministry said Thursday. The Ministry of Culture, Sports and Tourism and the Korean Film Council said the agreement would be signed in the afternoon at the National Museum of Modern and Contemporary Art in Seoul. Under the non-binding deal, the
The agreement aims to revive the struggling film industry by capping actors' fees for state-backed films.
The cap on actors' appearance fees is set at below 10 percent of net production costs.
No, the agreement is non-binding.
The agreement will be signed at the National Museum of Modern and Contemporary Art in Seoul.