Korean Film Council "Daejong Awards to Continue, Discussing November Holding"

The Korean Film Directors Guild of America (KFDA) has revealed the possibility of hosting the Daesong Awards.

The press conference for the 60th Daesong Awards Film Festival was held in Jongno-gu, Seoul, on the afternoon of the 27th, and the misunderstanding about the bankruptcy of the Korean Film Directors Guild (KDGA) and the possibility of holding the Daesong Awards continued.

On the day, Lee Jang-ho, chairman of the Daejong Sang Film Festival, Bang Soon-jung, chairman of the Screenwriters Guild of Korea, Yang Yun-ho, president of the Korean Film Actors Guild, Kang Dae-young, president of the Korean Film Technology Organization Council, Kim Ki-tae, president of the Korean Film Cinematographers Association, and Lee Gap-seong, president of the Korean Screen Actors Guild, were present.

Yang Yun-ho, president of the Korean Film Actors Guild, said, "After Youngchong won the lawsuit between Youngchong and Daol, creditor A suddenly filed for bankruptcy against Youngchong. Youngchong could not understand why the creditor filed for bankruptcy against the association, which has been active for more than 60 years, and in the meantime, the bankruptcy was declared on the grounds that it was unable to pay its debts."

"The creditors have clearly expressed their intention to regain the authority of the Daejong Prize by arbitrarily reorganizing the Youngchong in a non-director or acting system after the resignation of Chairman Yang as in the past."

"Strictly speaking, the right to organize the Daejong Prize belongs to the filmmakers, not the Youngchong. Since it has been held for more than 60 times, I think it's okay to hold the Daesong Awards whenever and whoever the people recognize and the filmmakers recognize. However, we have a duty and responsibility to honor the next generation, the juniors, year after year," he stressed.

He continued, "Youngchong is faithfully fulfilling the procedures of the rehabilitation court. If the rehabilitation is halted because creditors do not agree with the rehabilitation plan and the company is declared bankrupt again, the decision will be appealed to the High Court. There, Youngchong will argue its case again to save its life. But even if it is not Youngchong, as long as there are filmmakers, there will be a collective organization of filmmakers, and the Daesong Awards will continue."

He also spoke about the upcoming Daesong Film Festival. "I saw an article that creditor A, who is a bankruptcy filer, is buying the right to hold the Daesong Awards, but it's really wrong," Yang said. "If Mr. A buys the business license, you can't hold the Daesong Awards, but having the business license does not mean you can hold the Daesong Awards. We are preparing to host it in November. We are discussing it right now because of the broadcasting issue."

Meanwhile, the Daesong Awards, which has been considered one of the three major film awards ceremonies in Korea, has recently been in the spotlight due to the bankruptcy of the Korean Film Institute, which holds the organizing rights. The bankruptcy case is being appealed, and the KFA has countered with a corporate rehabilitation application, raising concerns about the future of the awards.