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The Asian Cinema Fund (ACF), a representative support program of the Busan International Film Festival that seeks to discover promising film projects by talented Asian filmmakers and provide systematic support in completing the projects, from script development to post-production, has announced 14 selections for 2023.

A total of 774 projects were submitted to the three types of ACF support funds. An approximate 49% increase in total number from the previous year, each fund received a record-high number of submissions. This served as a confirmation of ACF’s status and value in the Korean and Asian film industry.

The 2023 selections are garnering expectations with projects from Southeast Asia and South Asia that show various interpretations of genre, as well as Korean projects that portray the latest trends in independent films.

The Script Development Fund, which funds projects from Asia that are in the planning and development stage, received a total of 398 submissions, an approximate increase of 130 projects from last year. Amongst the submissions, 3 projects that provide a script with the greatest potential will receive a cash grant of 10 million KRW for script development and be invited to the 2023 Asian Project Market as an official project with the opportunity of business meetings with industry officials.

With a high proportion of Southeast Asian and South Asian projects in the Asian project submissions pool, this year’s submissions included a large number of genre films, showing a further diversified trend in submissions.

The Post-Production Fund selected two Korean and Asian projects each from the submission pool of 71 projects. The 4 projects, which will receive post-production funding, will make their world premieres at this year’s Busan International Film Festival.

Of the Asian Network of Documentary (AND) Fund selections, the 4 projects from Korea are expected to imprint a new impression and reflection on the genre of documentaries, while the 3 Asian projects shed light on social issues.

The 7 AND Fund recipients, which supports feature length documentaries, will be presented with a maximum cash grant of 20 million KRW, as well as an official invitation to Asian Contents & Film Market, which will provide networking opportunities with industry professionals.

Starting their journey at the Busan International Film Festival, ACF selections have gone on to show much prominence in prestigious film festivals around the world, every year.

First is Director Yoo Ji-young’s Birth (2022), the 2022 Post-Production Fund recipient. Recently, the project was invited to the Karlovy Vary International Film Festival’s Proxima competition, where it was awarded the Grand Prix.

Rehana (2021), an official selection of BIFF 2021 and the Script Development Fund recipient in 2017, received much attention with the invitation to the Un Certain Regard section of the Cannes Film Festival in 2021, while Memoryland (2021), 2016 ACF Script Development Fund selection, was invited to the 72nd Berlin International Film Festival’s forum.

This year’s selections, which boasts the highest competition rate up to date, is once again garnering much anticipation with its high quality of production and diversity in genre.