Broken Daejong Film Festival to Openly Sell Trademarks...Are you looking for a new owner?

The public sale of trademark rights will be promoted to normalize the Daejong Film Festival, which is on the verge of suspension due to the bankruptcy of the Korean Film Council.

Law Firm Gow, a creditor agent of the Korean Federation of Filmmakers, announced on the 18th that it would announce the sale of trademark rights at the Daejong Film Festival.

The lowest sale price is 56 million won, and the bidding will be closed on the 22nd and the bidding will take place on the 25th.

However, the highest bidder is not immediately sold. Gwan Jae-in selects the film festival after examining its ability to host it. Accordingly, corporations participating in the bidding are limited to non-profit corporations that can hold film festivals, and documents proving their ability to hold them must be submitted.

Currently, the preferred buyer is the Seoul Film Council, which is the successor of the Korean Federation of Filmmakers. As the Seoul Younghyup shows its willingness to hold the festival, it is highly likely to hold the Daejong Film Festival following the General Association.

The Daejong Film Festival is the oldest film festival in Korea, which began in 1962 with the Ministry of Culture, Sports and Tourism (currently the Ministry of Culture, Sports and Tourism).

However, fairness issues have been raised steadily, and since 2011, in particular, it has been at the center of controversy by notifying actors who did not attend the awards or selling popularity award-winner voting tickets for a fee.

In December last year, the Korean Federation of Filmmakers was declared bankrupt by a court. As a result, the Korean Film Council filed for rehabilitation and began the rehabilitation process for about nine months, but the bankruptcy was finally confirmed on October 24 when the appeal for cancellation of the bankruptcy sentence was rejected.