Jang Kyung-ik | |
---|---|
장경익 | |
Born | |
Occupation | Filmmaker |
Years active | 2002 to present |
Employers |
|
Korean name | |
Hangul | 장경익 |
Revised Romanization | Jang Kyung-ik |
McCune–Reischauer | Jang Kyung-ik |
Jang Kyung-ik (Korean: 장경익) is a South Korean producer and entertainment executive. He is the founder member and current Next Entertainment World (NEW) head of film division and CEO of its subsidiary Studio&NEW.[1]
Jang establishing himself as a content producer in South Korea after producing major hit with the drama Descendants of the Sun, as well as film Miracle in Cell No. 7 and Train to Busan, which garnered 10 million viewers.[1][2]
During his school days, Jang Kyung-ik didn't have specific dreams, but he had a deep passion for movies.[3] He would rewatch films he liked. Movies he watched more than ten times during his school days included The Sound of Music and Graduation.[4] He tend to follow the performances of the actors rather than focusing on the director. He made sure to watch all the movies featuring Tom Hanks, Daniel Day-Lewis, and Meg Ryan.[4]
Jang's favorite movie is Chungking Express. In his 20s, he faced struggles with self-image and finding his path in life. Love also presented challenges for him. To cope, he took breaks from school and later joined the military upon receiving his mandatory military warrant. He also took a leave of absence to focus on exam preparation and left Korea for language training just one semester before graduation. Jang felt lost in a confusing world and continuously searched for answers. It was during this period that he found solace in the movie Chungking Express, which provided him with comfort.[5]
Jang majored in economics and started his first job as an office worker in the mobile telecommunications sector. Feeling frustrated with the mundane corporate life at Shinsegi Telecommunications, he decided to quit and pursue his own business. He ventured into a web animation business for two years but felt that something was missing, prompting him to explore new opportunities. In early 2002, Jang landed a job at Megabox, where the interviewer recognized his potential as a theater programmer. Through hard work, he quickly advanced in his career, eventually becoming the head of the programming team.[6][7]
As the head of Megabox's programming team, Jang Kyung-ik responsible for tasks such as theater placement and movie purchasing. The team determines which movies will be shown at Megabox's 19 theater sites nationwide. Despite not hiring film majors, the team, consisting of members with theater experience, judges movie success based on the preferences of the general audience. They focus on capturing audience emotions by carefully examining movie titles, posters, trailers, and considering press reactions, online community responses, and preview screenings. The team acknowledges the significant influence of word-of-mouth in the film industry.[8]
During his seven years at Megabox, Jang had the opportunity to meet and work with CEO Kim Woo-taek.[6][7] During his second to third year as the team leader, Jang Kyung-ik organized Japanese and European film festivals and launched the 'Movie On Style' brand. He actively participated in the marketing and distribution of high-art films, which he found incredibly fun. As Jang entered his mid-30s, his passion for movies deepened, further solidifying his lifelong dream of a career in the film industry. When contemplating the idea of starting a film company, CEO Kim Woo-taek suggested that they embark on the venture together.[3][9]
In 2008, Kim Woo-taek, along with four founding members including Jang Kyung-ik as the Head of the film division, Kim Hyeong-cheol as the Head of the investment division, Kim Jae-min as the Head of the distribution division, and Park Jun-kyung as the Head of the marketing division, founded Next Entertainment World (NEW).[7] The name 'NEW' was chosen to reflect their desire for novelty and embracing new beginnings, akin to the excitement of celebrating the New Year. With 'NEW' as their company name, they constantly foster innovation and avoid clinging to outdated ideas.[3]
Jang describes the company atmosphere as a 'club culture,' where they don't have many meetings. According to Jang, as your rank increases, the amount of physical work should decrease while the amount of thinking should increase. As a result, all employees are busy. They make decisions through meetings held at most 3 to 4 times a week, with around 30 to 40% of decisions being made during these meetings. The rest is determined through back-and-forth communication.[10]
The film industry recognizes NEW's success in investing and distributing movies, partly due to their communication system. NEW employees know how to say 'no' to other people's opinions, regardless of their position. Jang appreciates the fact that employees freely express their thoughts, but it can also be challenging. He believes that the spontaneous atmosphere, similar to a college club, enables such open communication. Jang also mentioned that they don't hold individuals accountable for movies that fail at the box office. He considers success and failure as collective achievements and takes responsibility as the representative of the company.[10]
In 2010 NEW distributed nine mid-range or low-budget films, including Poongsan and Blind. Among them, six films exceeded the break-even point. The success rate is 66.7%. This is a surprising figure, considering that only 24.6% of Korean films released last year earned profit (estimated by the Korea Film Council).[11]
The company made a significant impact in 2012 with the release of blockbuster films such as Unbowed, All About My Wife, The Grand Heist, and Pietà.[12] These movies achieved better-than-expected results during the third quarter of 2012. The market's predictions were not really positive these movies managed to overcome conventional benchmarks.[13]
Director Chung Ji-young's first film after a 13-year break was Unbowed. The movie, produced and distributed by Aura Pictures, had a modest budget of ₩1.5 billion, which included marketing expenses and ₩500 million for production.[14] Ji-young expressed gratitude to the actors who agreed to work for minimal pay, praising their dedication.[15] received a remarkable 13-minute ovation during its premiere at the 2011 Busan International Film Festival.[16][17] It hit theaters on January 18, 2012, coinciding with the Lunar New Year holiday. Initially, it was screened on 245 screens, which was the second lowest among the films released that day. However, due to its growing popularity, the number of screens increased to 456 by January 24, before decreasing to 389 the following day. By January 26, the film had garnered 1.4 million admissions,[14][18] primarily due to positive word of mouth, turning it into an unexpected box office success. According to data from the Korean Film Council (KOFIC), Unbowed ranked as the third most-watched film in South Korea during the first quarter of 2012, with a total of 3.4 million admissions.[19][20]
All About My Wife, which came out following the success of Architecture 101, was not initially predicted to perform well at the box office. However, during its opening weekend from May 18 to 20, the film surpassed expectations by selling 594,195 tickets, making a significant impact by claiming the top spot at the local box office. It put up a formidable competition against Hollywood movies such as The Avengers and Men in Black 3.[21][22][23][24][25]
In a mere 19 days following its release, The Grand Heist captivated an audience of 4 million viewers, making it the seventh Korean film in 2012 to achieve this accomplishment.[26] The movie's total admissions was at a little over 4.9 million.[27][28] During its first week of release, the film secured the second position at the box office and generated a substantial gross of ₩9,615,802,659.[29] Over the course of five weeks, it accumulated a domestic total of ₩33,693,067,319,[30] solidifying its position as a standout among other summer hits such as The Amazing Spider-Man, The Last Night, The Dark Knight Rises, and The Thieves.[13]
Pietà, directed by Kim Ki-duk, proved to be an unexpected triumph.[13] It had its world premiere on September 4, 2012, as part of the competition lineup at 69th Venice International Film Festival,[31] where it won the Golden Lion.[32][33] It is the first Korean film to win the top prize at one of the three major international film festivals—Venice, Cannes and Berlin.[34][35][36][37][38][39] Following its festival success, Pieta received a theatrical release in South Korea on September 6, 2012.[40][41][42][43][44] The film's international distribution rights were acquired by 20 countries, including Italy, Germany, Russia, Norway, Turkey, Hong Kong, and Greece.[45] Notably, independent distributor, Drafthouse Films handled the theatrical release of Pieta in North America.[46]
Building on 2012 success, NEW continued to captivate audiences in 2013 with hits such as Miracle in Cell No. 7. Within its first two weeks of release, the film garnered an impressive 4.6 million admissions, equivalent to over US$30 million, thanks to strong positive reception and word of mouth. Despite the release of The Berlin File, the film managed to attract 15% more audience members in its third week, with seat bookings reaching an impressive 75.8%.[47][48][49] After just 32 days in theaters, the film achieved a significant milestone by becoming the eighth film in Korean cinema history to surpass 10 million ticket sales.[50][51][52][53] This was especially notable since Miracle in Cell No. 7 had a modest budget with a break-even point of 1.7 million admissions, resulting in the highest profit among all films that crossed the 10 million mark.[54] Continuing its success, the film surpassed 12 million viewers within 46 days of its release.[55][56] By March 15, 2013, a total of 52 days after its initial release, ticket sales reached an impressive 12.32 million, securing its position as the seventh highest grossing Korean film of all time.[57][58][59]
NEW surpassed competitors like CJ E&M, Showbox, and Lotte, and ranked first in terms of audience with the success of Miracle in Cell No. 7, Hide and Seek (5.6 Million viewers), and New World (4.68 Million viewers).[60][61]
The Attorney marked director Yang Woo-suk's directorial debut and was the third work by withUs Film.[62] The film drew inspiration from the real-life Burim case that unfolded in 1981 during the authoritarian Chun Doo-hwan regime. It follows the transformative journey of Song Woo-seok, portrayed by Song Kang-ho, a struggling tax lawyer who faces five intense trials and forms significant relationships along the way.[63] The concept for the movie was conceived by Choi Jae-won (withUs Film CEO) and Yang Woo-suk around early May 2012.[64]
CJ and Showbox had already shown interest in becoming distributors of the film. However, Jang Kyung-ik, called Choi Jae-won to express his disappointment, asking why the proposal had not been shared with him. NEW's CEO, Kim Woo-taek, also reached out to Choi Jae-won personally. Eventually, withUs Film and NEW signed an investment and distribution agreement.[62] NEW persistence paid off as The Attorney, with a production cost of approximately ₩7.5 billion, achieved tremendous success at the box office.[65] It sold over 11 million tickets and generated ₩82.9 billion in revenue. Currently, the film holds the 15th position among the highest-selling Korean films of all time and was the second highest-grossing Korean film in 2013.[66][67][68]
After 2013, 2014 was a period of recession for New. The ambitiously released Sea Fog and the action film Big Match failed commercially. Jang saw this as a period of downturn and reorganized the organization.[69]
2016 was the biggest boom since NEW founding. In the first half of the year, the ambitious drama business sector was a huge success. Descendants of the Sun became a huge hit, exceeding 38% in viewership ratings.[70]
Train to Busan had a budget of $8.5 million[71] and is built upon an original story conceived by Park Joo-suk.[72][73] The film, directed by Yeon Sang-ho, features a talented cast including Gong Yoo, Jung Yu-mi, Ma Dong-seok, Kim Su-an, Choi Woo-shik, Ahn So-hee and Kim Eui-sung.[74] The majority of the story unfolds on a KTX train journey from Seoul to Busan where a sudden zombie apocalypse erupts in the country, jeopardizing the safety of the passengers.[73]
The film premiered in the Midnight Screenings section of the 2016 Cannes Film Festival on 13 May.[75][76][77][78] Then, on August 7, it achieved a significant milestone by becoming the first Korean film of 2016 to surpass 10 million theatergoers, breaking audience record.[79][80] The film's impressive performance continued at the box office, grossing $80.5 million in South Korea, $2.2 million in the United States and Canada, and $15.8 million in other territories. Accordingly, its cumulative worldwide gross reached an impressive sum of $98.5 million.[81]
Studio&NEW (스튜디오앤뉴) was established in September 2016 with the objective of delivering high-quality content in the movie and drama sectors, drawing upon the production capabilities demonstrated in Descendants of the Sun.[82][83] In the year end of 2016, Jang Kyung-ik was appointed as CEO of Studio&NEW. Effectively from June 28, 2017, NEW (Next Entertainment World, CEO Kim Woo-taek) appointed Park Jun-kyung to assume the role of CEO for the NEW Film Division.[84][85][86]
In 2017, CEO Jang Kyung-ik, unveiled Studio&NEW's drama lineup and made an official announcement about signing a memorandum of understanding (MOU) with the broadcaster JTBC.[87]
Filming for The Great Battle commenced on August 23, 2017, and concluded on January 24, 2018.[88][89] Due to limited available information about the actual battle, director Lee Kwang-Sik had to extensively study approximately 100 publications from Japan and China.[90] He also expanded his research to gather more details about Yang Manchun, whose information was similarly scarce.[90] Due to a lack of sources, the director just referenced sources he had and filled the gaps with cinematic imagination.[91]
The film had its premiere in South Korea on September 19, 2018, with age 12-rating.[92] The film was released alongside Fengshui, The Negotiation, and The Nun, considered the most competitive week on Korean Box Office in 2018.[93] The Great Battle, which invested 15 billion won in net production costs, barely passed the break-even point. It recorded 4.52 million viewers as of September 30.[94] It was also released in North America on September 21, 2018. By September 21, the film had secured distribution deals in more than 32 countries, with release dates scheduled for October 2018 in the United Kingdom, Vietnam, Australia, New Zealand, Taiwan, and Singapore.[95] It was released on V.O.D on October 24, 2018.[96]
In January 2018, Studio&NEW attracted Series A worth 34.3 billion won from KT Skylife and others.[97] It was also expanding its business area to include Actor management.[98]
In early September 2019, Studio&NEW attracted Series B investment worth 22 billion won through common stock issuance. The cumulative investment amount is 56.3 billion won.[97]
On January 9, 2019, NEW (Next Entertainment World/Chairman Kim Woo-taek), appointed Jang Kyung-ik, the CEO of Studio&NEW, as the new CEO of its film division. From February 1, CEO Jang Kyung-ik served as the head of the film division and CEO of Studio&NEW simultaneously.[99]
In November 2020, Studio&NEW and Geumwol, film production company owned by Park Hoon-jung, signed an equity investment contract.[100]
On April 29, 2021, Studio&NEW (CEO Jang Kyung-ik) announced that it has entered into a long-term content partnership with Disney and will continue to showcase content produced by Studio&NEW through Disney+ in the future.[101]
In August 2023, Studio&NEW decided to close its actor management business to focus on content planning and production. Consequently, employees and actors belonging to the management business division received support in finding a new home.[102]
Year | Title | Network | Director | Production house | Ref. | |
---|---|---|---|---|---|---|
English | Korean | |||||
2016 | Descendants of the Sun | 태양의 후예 | KBS2 |
|
|
[176] |
2018 | Ms. Hammurabi | 미스 함무라비 | JTBC | Kwak Jung-hwan | Studio&NEW | [177] |
The Beauty Inside | 뷰티 인사이드 | Song Hyun-wook |
|
[178] | ||
2019 | Chief of Staff | 보좌관 | Kwak Jung-hwan |
|
[179][180] | |
2020 | Oh My Baby | 오 마이 베이비 | tvN | Nam Ki-hoon |
|
[181] |
Graceful Friends | 우아한 친구들 | JTBC | Song Hyun-wook |
|
[182] | |
2020–2021 | Delayed Justice | 날아라 개천용 | SBS TV | Kwak Jung-hwan |
|
[183] |
2021 | Doom at Your Service | 어느 날 우리 집 현관으로 멸망이 들어왔다 | tvN | Kwon Young-il |
|
[184] |
The Devil Judge | 악마판사 | Choi Jung-kyu | [185] | |||
2023 | Doctor Cha | 닥터 차정숙 | JTBC |
|
|
[186][187] |
2023–2024 | Tell Me That You Love Me | 사랑한다고 말해줘 | ENA | Kim Yoon-jin |
|
[188] |
Year | Title | OTT | Director | Production house | Credited as | Ref. | ||
---|---|---|---|---|---|---|---|---|
English | Korean | Planner | Investor | |||||
2022 | Rookie Cops | 너와 나의 경찰수업 | Disney+ | Kim Byung-soo |
|
No | Yes | [189] |
2023 | Moving | 무빙 | Park In-je |
|
Yes | Yes | [190][191] | |
2024 | The Tyrant | 폭군 | Park Hoon-jung |
|
No | Yes | [192][193] |
Award | Year | Category | Nominee(s) / work(s) | Result | Ref. |
---|---|---|---|---|---|
APAN Star Awards | 2023 | Drama of the Year | Moving | Nominated | [194] |
Asia Contents Awards & Global OTT Awards | 2023 | Best Creative | Won | [195] | |
Best Visual Effects | Won | ||||
Critics' Choice Awards | 2024 | Best Foreign Language Series | Nominated | [196] | |
Grand Bell Awards | 2023 | Best Series | Won | [197][198] |
Publisher | Year | Listicle | Placement | Ref. |
---|---|---|---|---|
Cine21 | 2023 | Production Company of the Year | Won | [199] |