Director Jang Hang-jun of the film The King's Warden, which set an all-time record for box office revenue, said he will not receive a single won in "running guarantee," a performance bonus tied to audience numbers.
On the 23rd, Jang appeared on the fake documentary content of the YouTube channel "Bibo TV" and chatted with fellow actors.
When actor Lim Hyeong-jun asked, "Didn't you make a lot just from the running guarantee?" Jang Hang-jun replied, "Everyone thinks that, but I really didn't put in a running (guarantee)."
He went on, "They suggested adding a running guarantee, but I said I would take 5 million to 6 million won more (as a base directing fee)," showing regret about the contract terms.
Even considering that the video blends fiction and reality, Jang had earlier noted on the podcast "Secret Guarantee," "I didn't know it would be such a smash hit and set my equity share very small. Just thinking about it feels like such a waste."
The box office momentum of The King's Warden is overwhelming. It surpassed its break-even point of 2.6 million admissions early and is on the verge of topping a cumulative 15 million viewers. The excess audience alone is estimated at about 12.4 million.
Given that in the industry a director's running guarantee is typically set at 300 to 500 won per viewer, calculations show that, for The King's Warden, the bonus could have been at least 3.5 billion won to more than 6 billion won.
However, Lim Eun-jeong, head of Onda Works, the production company behind the film The King's Warden, recently said in an interview, "We are discussing compensation for the people who made this together," adding, "I want to use the revenue in a way that helps Korean cinema and keeps us working hard."