The Busan International Film Festival's Asian Cinema Fund (ACF) has announced its selections for the 2026 Co-Production Support Fund, backing three international co-productions with a combined KRW140 million ($100,000) in production funding. The chosen films are "Grateful," directed by Fukada Koji; "Rhizome," helmed by Jakrawal Nilthamrong; and "Trinity," from director Boo Junfeng. These projects were selected from a pool of 15 submissions through a rigorous two-round process. This year's funding marks a substantial increase, supporting three films compared to only one in the previous year, and highlights diverse international collaborations involving 13 countries in various production capacities.

Established in 2025, the Co-Production Support Fund aims to stimulate cross-border film productions that include Korea. It specifically targets long-form narrative features and animated theatrical releases structured as formal co-production agreements with Korean partners. A key requirement for eligibility is that projects must have already secured 60% or more of their net production costs. The fund's total allocation has increased significantly from KRW65 million ($46,400) in 2025 to KRW140 million ($100,000) this year, demonstrating a growing commitment to fostering international cinematic partnerships. Beyond financial aid, the ACF also provides support through its Script Development Fund, Post-Production Fund, and Asian Network of Documentary (AND) Fund, facilitating distribution and industry access via BIFF and the Asian Contents & Film Market (ACFM).

Major International Collaborations Receive Busan Co-Production Funding

The Asian Cinema Fund, part of the esteemed Busan International Film Festival, has recently unveiled its selections for the 2026 Co-Production Support Fund. Three compelling international film projects have been granted a total of KRW140 million (approximately $100,000) to support their production. These include "Grateful," a Korea-Japan collaboration under the direction of Fukada Koji; "Rhizome," led by Jakrawal Nilthamrong with participation from Thailand, Korea, France, Laos, and Singapore; and "Trinity," an ambitious project from Boo Junfeng, involving a broad consortium of twelve countries with Taiwan, France, and Singapore at the forefront. This expansion in supported projects, tripling from the previous year, underscores the festival's dedication to nurturing global cinematic endeavors and fostering diverse storytelling through cross-cultural partnerships.

The selection process for these grants was highly competitive, involving a thorough review of 15 submitted projects and subsequent interviews. "Grateful" received the largest grant of KRW60 million ($42,900), a recognition attributed to the robust track record of its Korean production team. "Rhizome" and "Trinity" each secured KRW40 million ($28,600). "Rhizome" delves into the shared wartime histories of Asian nations, while "Trinity" explores themes rooted in religion, boasting an extensive international producing team. These selections highlight the fund's commitment to supporting films with strong narrative potential and significant international collaborative efforts, with the ultimate goal of bringing these culturally rich and diverse stories to the global stage.

The Expanding Horizon of the Co-Production Support Fund

Initiated in 2025, the Co-Production Support Fund by the Busan International Film Festival was conceived with the primary objective of galvanizing international co-productions that feature Korean involvement. The fund is specifically designed to aid long-form narrative films and animated theatrical releases that are structured as formal co-production agreements with Korean partners. A fundamental criterion for eligibility mandates that projects must have secured at least 60% of their net production costs, ensuring a baseline of financial viability. This year has witnessed a remarkable expansion in the fund's capacity, with total funding increasing from KRW65 million ($46,400) in 2025 to KRW140 million ($100,000) in 2026, and the minimum number of guaranteed recipients growing from one to at least two, reflecting a strategic growth in its supportive role within the global film industry.

Ellen Y.D. Kim, director of ACFM, expressed enthusiasm for the fund's growth and the renewed support for co-productions, noting the re-establishment of the Korean Film Council’s international co-production support program. She emphasized the significant progress already made by the selected projects in securing co-production arrangements and financing with numerous international partners. Kim articulated her hope that this financial assistance, though modest, would provide the crucial final piece for these films, aiding their successful completion and eventual release. Beyond the Co-Production Support Fund, the Asian Cinema Fund also administers a Script Development Fund, a Post-Production Fund, and the Asian Network of Documentary (AND) Fund, all aimed at connecting supported projects with essential distribution channels and industry access through the platforms of BIFF and ACFM, which runs concurrently with the festival from October 10-13 at BEXCO in Busan.