- DEFAULT released on 1,176 screens and grossed US$1.7 million in box office revenue as of the first day of its wide release
- Starring Yoo Ah-in of Spackman Media Group, the film has been presold to 17 countries
SINGAPORE - Media OutReach - 29 November 2018 - Spackman Entertainment Group Limited ("Spackman Entertainment Group" or the "Company" and together with its subsidiaries, the "Group"), one of Korea's leading entertainment production groups founded by financier Charles Spackman, wishes to announce that the Group's upcoming film, DEFAULT, produced by the Company's indirect wholly-owned subsidiary, Zip Cinema Co., Ltd. ("Zip Cinema"), opened #1 at the Korean box office on the first day of its wide release on 28 November 2018.
Based on the latest statistics from the Korean Film Council, DEFAULT recorded total ticket admissions of 315,052 with gross box office revenue of US$1.7 million as of its opening day, 28 November 2018. The film, which was released on 1,176 screens, captured 39.8% of the nationwide market share of box office revenue for that day.
In addition to being the producer of DEFAULT, the Group invested 10% of the film's total production budget. The estimated total production budget for DEFAULT, including prints and advertising costs, is approximately KRW 9.7 billion (or USD 8.6 million).
The latest daily statistics from the Korean Film Council on the performance of DEFAULT are updated on the Group's website at http://www.spackmanentertainment.com.
DEFAULT has been presold to 17 countries including Canada, Italy, Japan, China (Hong Kong & Macau), Taiwan, Singapore, Indonesia, Malaysia, Brunei, the Philippines and the United States.
CJ Entertainment is the overseas distributor of DEFAULT. Clover Films Pte. Ltd., a Singapore-based film distributor, purchased the theatrical distribution rights in Hong Kong, Macau, Singapore and Taiwan.
Starring Korean superstar Yoo Ah-in of UAA & Co Inc., a subsidary of the Group's associated company, Spackman Media Group Limited, veteran actress Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor Vincent Cassel, DEFAULT depicts the behind‐the‐scenes story of the tumultuous week leading up to the rescue package agreed upon between the International Monetary Fund ("IMF") and the Republic of Korea to prevent bankruptcy during the 1997 Asian Financial Crisis.
In DEFAULT, Yoo Ah-in plays a mega investor betting against the country's fortunes. Kim Hye-Soo acts as the leader of the monetary policy team at the Bank of Korea, and French actor Vincent Cassel takes on the role of the managing director of IMF. The film marks the first South Korean project of Vincent Cassel, who starred in French independent films LA HAINE and L'APPARTMENT, as well as Hollywood movies OCEAN'S TWELVE, OCEAN'S THIRTEEN and BLACK SWAN.
Directed by Choi Kook-hee, DEFAULT was previously screened at the 71st Cannes International Film Festival in May 2018.
For more information on DEFAULT and its English trailer, visit the Group's website at http://www.spackmanentertainmentgroup.com/default-1.html.
Recent media coverage on DEFAULT can also be found at http://www.spackmanentertainmentgroup.com/news.html.
