South Korean Box Office Heats Up with ‘The King’s Warden’ and ‘Humint’ Amidst Debate Over Film Industry Reforms

Seoul, South Korea – February 18, 2026 – The South Korean box office is showing signs of recovery, driven by strong performances from domestic films during the Lunar New Year holiday. “The Man Who Lives with the King” (also known as “The King’s Warden”) has surpassed 3 million viewers, while “Humint” quickly reached 1 million, signaling a positive trend for the local film industry. However, the long-term sustainability of this momentum remains uncertain, sparking debate over necessary reforms, including a potential “holdback” system and adjustments to ticket pricing.

Box Office Successes

“The Man Who Lives with the King,” directed by Jang Hang-jun and starring Yoo Hae-jin and Park Ji-hoon, has exceeded the break-even point with over 3.091 million cumulative viewers as of February 18th, 2026, fourteen days after its release. The film saw its highest single-day attendance on January 16th, with approximately 537,000 viewers – the highest during the Lunar New Year holiday since the COVID-19 pandemic. The film tells the story of King Danjong Lee Hong-wi (Park Ji-hoon) and his final days in exile with village residents, including village chief Eom Heung-do (Yoo Hae-jin).

“Humint,” an espionage thriller featuring Jo In-sung and Park Jung-min, has also achieved significant success, surpassing 1 million viewers after opening a week later, on February 11th. The film follows National Intelligence Service agents investigating a case that crosses paths in Vladivostok, Russia.

The Holdback System Debate

The recent box office success has reignited discussions about implementing a “holdback” system – a delay in the release of films to online video services (OTT) and IPTV – to support theatrical releases. The Ministry of Culture, Sports and Tourism is advocating for a mandatory holdback period, with proposed bills currently under consideration by the National Assembly. The proposed holdback period is 6 months.

Proponents argue that a holdback system would allow films, particularly independent and art-house productions, to have a longer theatrical run, potentially increasing revenue and supporting the film development fund (currently 3% of ticket sales). However, the proposal faces strong opposition from film producers and distributors, who fear it restricts their freedom to operate and could hinder profit diversification.

France currently employs a holdback system, with periods ranging from 3 to 4 months for domestic platforms and longer periods (9-17 months) for global platforms like Netflix, Amazon Prime, and Disney.

Ticket Pricing and Accessibility

A recent survey by People’s Solidarity for Participatory Democracy revealed that high ticket prices are a major deterrent for audiences, with 95.6% of respondents citing cost as a factor. 67.7% reported reducing their theater attendance due to price, and 66.9% indicated they wait for online releases as a result. Current theater ticket prices range from 15,000 won (approximately $11.50 USD) for a standard 2D showing on weekends to 14,000 won (approximately $10.75 USD) on weekdays.

The perceived affordability of OTT subscriptions (ranging from 6,500 to 13,500 won) further incentivizes audiences to delay or forgo theatrical releases. The current system of telecommunication company discounts, while offering some savings (9,000-11,000 won), can be misleading, as theaters provide tickets to these companies at a significantly lower price (7,000 won).

Lowering ticket prices, particularly weekday rates, is seen as a potential solution to attract more viewers and revitalize the industry. Expanding the number of public movie theaters, like the Arirang Cine Center in Seoul which offers significantly lower ticket prices (4,000-7,000 won), is also proposed as a way to increase accessibility.

Structural Reforms and Future Outlook

Experts suggest that structural reforms to the screening system, particularly addressing the dominance of the three major multiplex companies (which control over 98% of theaters), are crucial for long-term sustainability. Expanding public movie theaters and adjusting ticket prices to reflect market realities are also considered essential steps. For the holdback system to be successful, it must be coupled with affordable ticket prices and increased accessibility to encourage wider audience participation.