2.5 Billion Won Investment into "Yonggary"

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2.5 Billion Won Investment into "Yonggary"

Three organizations including Suwon City and Korea Technology Finance will form a consortium to invest into the science fiction movie 'Yonggary', photo, which sold for a high price at the Cannes International Film Festival this year.
The consortium will not seek any guarantees for the investment but will take a percentage of the profits the movie generates. This kind of project financing, up to now, is unusual in Korea.
The consortium and Shim Hyong Rae, the chairman of Zeronine Entertainment Co., which is producing the movie, will hold a ceremony for the investment agreement on December 1.
A source at the movie's production company revealed that the possibility to produce the movie came with the 1.5 billion won support of the consortium. The movie's producers had to stop production last June due to a financial shortage.
Suwon City also plans to build an amusement theme park modeled after Yongari. The rights for the movie sold for 2.7 million dollars during the pre-production market in Cannes film festival and will premier at the Sejong Culture Center for the first time in July, 1999.
For more information about 'Yonggary', contact the official homepage at: http://monsterzero.org/images/yongary.htm

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