Default, the highest November opening in the history of the Korean box office, raked in gross box office revenue of US$15 million and total ticket admissions of 2,090,526 since its release on 28 November 2018.
Spackman Entertainment Group Limited one of Korea’s leading entertainment production groups founded by international investor 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. , grossed US$15 million in box office revenue, surpassing more than 2 million tickets nine days since its official wide release in Korea on 28 November 2018.
Default, the top November release in the history of the Korean box office, continued to be released on an average of at least 1,114 screens daily. The film captured an average of at least 38% of the nation’s market share of box office revenue since its official release in Korea. According to the latest statistics from the Korean Film Council, Default, recorded total ticket admissions of 2,090,526 as of 6 December 2018.
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).
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.
Headlined by Korean superstar Yoo Ah-in of UAA & Co Inc., a subsidary of the Group’s associated company, Spackman Media Group Limited, 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.
The film also stars veteran actress Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor Vincent Cassel.
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.
