Director Jang Hang-jun says that even with the record-breaking success of his film ‘The King's Warden,’ fans shouldn’t expect him to be rolling in cash.
On the 23rd, VIVO TV uploaded a new video. The clip shows hosts Im Hyung-joon and Kim Eui-sung sharing drinks and chatting with Jang.
“I didn’t want to lose my original mindset just because we hit 10 million admissions,” Jang said. “So I’m planning a tightly written, low-budget indie film. I’ll produce and direct it myself.”
Kim Eui-sung asked, “So you made a lot from ‘The King's Warden,’ and now you want to try this direction?” Listening in, Im Hyung-joon chimed in, “Didn’t you make a ton? Just from the running guarantee alone.” Kim added, “If it’s 10 million admissions, how much is that back-end?”
A running guarantee (back-end) is an incentive paid out based on admissions beyond a film’s break-even point. ‘The King's Warden’ reportedly had a net production cost around 10 billion won, with break-even at 2.6 million admissions. As of the 24th, the film has drawn 14.84 million moviegoers, an all-time-level hit.
While it varies by project, running guarantees are often set at about 300-500 won per ticket. By simple math, Jang’s back-end could have been around 7 billion won.
But Jang surprised them: “Everyone assumes that. Honestly, I didn’t take a running [guarantee].”
Im asked, “Isn’t that usually automatic?” Kim reacted, “What director doesn’t put a running guarantee in the contract?”
Jang explained, “We discussed adding one, but I skipped it to bump up my director fee by about 5 to 6 million won.”
Even so, given the film’s massive performance, internal talks about additional compensation are reportedly ongoing.
Im Eun-jung, head of production company Onda Works, recently told the press, “‘The King's Warden’ isn’t structured so that I take everything; it’s split. We’re considering rewards for the people who worked on it and are discussing with the co-producer. One way or another, incentives will be paid.”
(SBS Entertainment News | Kim Ji-hye)