[Edaily Starin YUN GI BACK Reporter] Even the latest film by world-renowned master director Lee Chang-dong struggled to secure domestic investors. “Possible Love,” which was initially conceived with a theatrical release in mind, faced difficulties raising funds, casting doubt on whether production would even proceed; however, it was ultimately completed with support from a global streaming platform. The film went on to become the first Korean film ever to win the Grand Jury Prize (Silver Lion) at the 83rd Venice International Film Festival. The journey a single film takes to reach the world simultaneously illustrates the current reality of the Korean film investment market and the emerging production structures.

◇A Master’s New Film Facing Investment Barriers… Capital That Waited
Director Lee initially sought domestic investors to produce *Possible Love* as a theatrical release. However, rising production costs combined with a slump in the theater market caused investor sentiment to freeze, and the project struggled to get off the ground.
Netflix, which had shown interest in the project from the very beginning, waited while Director Lee sought theatrical investors and subsequently participated in both the investment and production.
At the *Possible Love* production briefing held last month, the director said, “Netflix was interested in this project from the very beginning. Even so, I wanted to make a theatrical film, and they waited patiently while I looked for investors,” adding, “They recognized my independence as a director, so this has been the most comfortable project I’ve worked on to date.”
In interviews with foreign media, the director also reflected positively on his experience working with Netflix. He noted that Netflix proposed a collaboration immediately after reading the screenplay and guaranteed him “nearly perfect creative freedom” throughout the entire production process.
Netflix did more than simply provide production funds. Production support staff from its Seoul office were involved throughout the entire production process, and the project was backed by ample production time and a creator-centric environment. This illustrates how, amid a shrinking domestic investment market, the role of a “patient production partner” has become more important than that of a “money-providing investor.”
As a result, “Possible Love” won both the Grand Jury Prize and the International Federation of Film Critics Award in Venice. A film whose very production was once in doubt has now been recognized for its artistic merit at the world’s most prestigious film festival.

◇It Didn’t End with Production… From Venice to the Oscars
Netflix’s role continues even after the film’s completion. Leveraging its global network, the company is overseeing the Academy Awards campaign, providing support for strategy development, budgeting, local screenings, advertising, events, and promotions.
Following Venice, the film is set to continue gaining exposure at major film festivals such as Toronto, New York, Busan, and London. Since nominations are determined by votes from approximately 11,000 Academy members, not only the film’s artistic merit but also the campaign targeting local opinion leaders is a crucial competitive factor.
Kang Dong-han, VP of Korean Content at Netflix, stated, “We are thrilled that Director Lee’s unique perspective and the efforts of the world’s top actors and production team have been recognized at the Venice International Film Festival,” adding, “As a long-term partner of the Korean film industry, we will continue to work together to ensure that a diverse range of films are consistently produced and reach even more fans.”
This support is not limited to just *Possible Love*. Starting with *Okja*, Netflix has expanded its collaboration with the Korean film industry through films such as *Night in Paradise*, *The Hunt*, *Gil Bok-soon*, *Rogi-wan*, *Good News*, and *Pavane*. Recently, it has broadened its reach to include independent and short films through sponsorships of the Mise-en-Scène Short Film Festival and the Wildflower Film Awards.
Ultimately, what “Possible Love” demonstrates is not so much a victory for the platform as it is a shift in the structure of Korean film production. A film that struggled to secure domestic funding was completed thanks to a global platform and, following its award at Venice, has now entered the Oscar race. Rather than the question of choosing between theaters and streaming, what has become more important is how many diverse channels can be created to ensure that good films do not disappear during production but can reach audiences.
Director Lee also highlighted this point. “We have no choice but to accept that theatrical films and streaming services will inevitably coexist,” he said, adding, “We need to consider how films can get closer to audiences within that context.” The journey taken by *Possible Love* serves as one answer to what the Korean film industry needs right now.
“Possible Love” opens in theaters on the 23rd and will be released on Netflix on November 6.