Busan’s Asian Contents & Film Market was abuzz on September 22, 2025, as a spirited panel titled “India-Korea Synergies: New Horizons in Co-Productions” brought together prominent voices from both Indian and Korean film industries. The event, reported by Variety, became a focal point for discussing the growing potential of Indo-Korean collaborations in cinema and animation, with policymakers, producers, and media figures all weighing in on how to deepen creative ties between the two nations.
Moderated by a diverse group of industry leaders, the panel featured Prithul Kumar, joint secretary (broadcasting) for India’s Ministry of Information and Broadcasting; actor-producer Arfi Lamba; Anthology Studios president Choi Jae-won; LME Studios CEO Heo Youngkook; media personality Abhishek Gupta; and Nishikant Singh, deputy chief of mission at the Embassy of India in Seoul. Each brought a unique perspective, but all were united by a common goal: harnessing the energy and resources of two dynamic film industries to create stories that resonate across continents.
Prithul Kumar set the stage by outlining India’s robust incentive framework for international productions. “International productions – including Korean projects – can access rebates of up to $3.6 million, with approvals granted in as little as 18 days,” Kumar explained, as reported by Variety. He emphasized that co-production agreements between India and Korea mean films can qualify as national films in both countries, opening doors to new markets and maximizing government and institutional support. As Kumar put it, “Our co-production agreements mean films can qualify as national films in both countries, opening markets and maximizing support.”
These incentives are not just bureaucratic promises—they are already being put into action. Choi Jae-won, president of Anthology Studios, highlighted his company’s ongoing remake of the Indian blockbuster Drishyam for the Korean market. “It’s a landmark step in bridging storytelling traditions,” Choi said, underscoring the significance of adapting Indian narratives for Korean audiences. The remake is seen as a significant cultural exchange, blending the suspense and intrigue of the original with the sensibilities and tastes of Korean viewers.
But the collaboration isn’t limited to live-action films. Animation and visual effects are also becoming fertile ground for partnership. Heo Youngkook, CEO of LME Studios, discussed his upcoming 3D animation project, Astro Station, a joint venture with an Indian partner studio. Heo credited India’s rapidly advancing VFX ecosystem for the project’s high visual quality, signaling a shift in how both countries view technical collaboration. “The project’s visual quality is thanks to India’s fast-growing VFX ecosystem,” Heo noted, according to Variety.
Actor-producer Arfi Lamba took a broader view, describing Asia’s creative industries as “the new superpower.” He pointed to India’s extensive experience in providing backend VFX for global giants like Disney, Pixar, and Marvel. Lamba’s message was one of urgency and optimism: “This is the time to take the front foot, go global together, and recover faster through shared resources.” His call for collaboration echoed throughout the panel, with many agreeing that pooling creative and technical resources could help both industries recover and thrive in a post-pandemic world.
Abhishek Gupta, a media personality long based in Seoul and affectionately known as “the most famous Indian in Korea,” addressed the need to break down cultural stereotypes. “Korean audiences still think of Indian films as just song-and-dance epics, but younger viewers are ready for action-driven, layered stories,” Gupta explained. His insight reflects a changing tide in audience preferences, as younger Koreans become more open to diverse storytelling styles that move beyond traditional Bollywood tropes.
The conversation also touched on the importance of people-to-people exchanges and festival participation. Nishikant Singh, deputy chief of mission at the Embassy of India in Seoul, suggested that increased participation in film festivals and more frequent talent exchanges could “create a real bridge” between the two industries. Singh’s remarks pointed to the power of soft diplomacy and cultural exchange as tools for strengthening bilateral ties—not just in business, but in the hearts and minds of audiences.
Throughout the discussion, all panelists agreed on one central point: Indo-Korean stories have the potential to resonate not just within their own borders, but across Asia and beyond. This sentiment was echoed repeatedly, with several speakers highlighting the universal themes and emotional depth that both Indian and Korean storytellers bring to their work. The panelists saw a future where collaborative projects could travel far and wide, captivating audiences from Tokyo to Toronto.
According to Variety, the incentives and co-production agreements discussed are already making a tangible impact. By allowing films to qualify as national productions in both countries, these agreements help filmmakers tap into funding, distribution networks, and audience bases that would otherwise be out of reach. For example, a Korean-Indian co-production can now access government grants and support from both governments, significantly lowering financial and logistical barriers.
It’s not just about the money, though. The panelists stressed the importance of mutual respect and understanding. As Choi Jae-won put it, adapting a film like Drishyam is more than just changing the language or setting—it’s about finding common ground in how stories are told and received. Similarly, Heo Youngkook’s work with Indian VFX artists on Astro Station has led to creative breakthroughs that neither side could have achieved alone.
Asia’s creative industries are indeed on the rise, and the spirit of collaboration on display in Busan suggests that the best is yet to come. As Arfi Lamba noted, “This is the time to take the front foot, go global together, and recover faster through shared resources.” The sense of optimism and shared purpose was palpable, with panelists and audience members alike eager to see what the future holds for Indo-Korean co-productions.
Looking ahead, the panelists encouraged both governments and private companies to continue investing in talent exchanges, festival participation, and joint ventures. The hope is that by building on the successes of projects like the Drishyam remake and Astro Station, India and Korea can set a new standard for cross-cultural collaboration in the global entertainment industry.
As the session wrapped up, one thing was clear: the bridge between Indian and Korean cinema is not just being built—it’s already carrying stories, talent, and ideas in both directions. With incentives, creative ambition, and a willingness to break down old stereotypes, the future of Indo-Korean film collaborations looks brighter than ever.
