Concerns are deepening over the fallout from Megabox Central's court-supervised rehabilitation filing, with industry insiders warning of cascading damage — including unpaid settlement funds — across the film sector. Culture, Sports and Tourism Minister Choi Hwi-young said Friday the government would actively explore every available policy tool to minimize the impact on the industry.
Choi made the pledge at an emergency meeting held Friday afternoon in response to the rehabilitation filing by Megabox Central Co. "The government has been channeling its policy efforts into reviving the film industry, and we are watching the current situation with great vigilance," she said.
The Ministry of Culture, Sports and Tourism and the Korean Film Council organized the meeting, which brought together Choi, Korean Film Council Chairman Han Sang-jun, and representatives from distribution companies and contracted theater operators with close business ties to Megabox Central. Participants shared firsthand accounts and discussed concrete government support measures.
Distribution companies and contracted theater operators voiced concerns about the operational and industry-wide impact of Megabox Central's rehabilitation proceedings, and called on the government to play an active role in limiting the damage to the film sector.
Choi pledged to act. "With the awareness that there is no future for Korean cinema if the ground-level industry collapses, I will actively explore every available policy tool to minimize the impact on the industry," she said.
Earlier, on Tuesday, the Cinema Solidarity coalition issued a statement calling on the Ministry of Culture, Sports and Tourism and the Korean Film Council to establish protective measures for small and mid-sized film businesses affected by Megabox Central's unpaid settlement funds.
"The unpaid settlement funds from Megabox Central represent a structural problem in the film industry's circulation system," the group said. "We demand minimum safeguards to prevent Megabox Central's rehabilitation proceedings from triggering a chain of damage across the entire film industry."
Meanwhile, the government has operated a dedicated reception center for film industry grievances and impact reports since June 25. It plans to hold briefing sessions for affected businesses on the rehabilitation process and to provide access to professional legal counsel for filing bond claims.
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