Korea launches public-private committee to shape movie 'holdback' rules

Korea launched a public-private consultative body on Friday to discuss a proposed “holdback” system that would impose a mandatory waiting period before films released in theaters can be shown on streaming platforms, with authorities aiming to reach a deal by August.

The Ministry of Culture, Sports and Tourism and the Korean Film Council said they will hold the body's first meeting later in the day in Seoul, bringing together 22 representatives from across the film industry. Participants include Culture Minister Chae Hwi-young and executives from film studios, distributors, cinema chains and IPTV platforms.

Discussions are centered on shaping holdback rules, with a bill seeking a six-month holdback period still pending in the National Assembly.

The legislation aims to revitalize a local film industry grappling with declining theater attendance and shifting consumer viewing habits. However, the proposal has drawn criticism from film studios, investors and distributors that delaying secondary releases could worsen their financial hardship by slowing the recovery of investments and stifling future funding, particularly as streaming demand continues to grow.

In addition to release windows, the consultative body will discuss broader measures to stabilize the industry's revenue structure and foster cooperation between theaters and streaming platforms, according to the Culture Ministry.

Officials said the group plans to narrow differences in the coming months and sign a voluntary agreement on holdback rules to support the film industry's shared growth by August.

“We will work to reach a holdback agreement that could minimize potential side effects by reflecting market realities while maximizing industry revenues,” Chae said.

Yonhap