The 'value of money' issue raised by Kim Go-eun... The era of top stars earning 1 billion won is unstoppable

As the economic downturn and recession continue, the 'value of money' in the entertainment industry is a hot topic. Actress Kim Go-eun has appeared on pianist Jeong Jae-hyung's YouTube channel 'Fairy Jae-hyung' and KBS 2TV's 'Lee Hyo-ri's Red Carpet' and is raising a hot topic by telling stories about 'the value of money' one after another.

On the 4th, Kim Go-eun appeared on Jeong Jae-hyung's YouTube channel 'Fairy Jae-hyung' to promote the movie 'Breakdown' (director Jang Jae-hyun). When asked by Jeong Ae-hyung, "Do you feel any pressure about box office success or failure?" Kim Go-eun responded, "I feel very sad and anxious about things that don't work out. I receive payment as I should, and I think it's a bit of conscience and responsibility." “I really mean what I say,” he said. He added, "Isn't there a point in making pop culture art if no one sees it? I hope that as many people as possible will see it, and even if I get criticized, I hope that they will watch and criticize me."

The topic of ‘value for money’ came up again on ‘Lee Hyori’s Red Carpet’. Regarding Kim Go-eun, who appeared as a guest, Lee Hyo-ri said, "I saw Jae-hyung on YouTube. I really liked the way he said, 'I'm trying to get my money's worth.'" Kim Go-eun, who heard this, said, "When I go to the filming site, I am close with the staff, so at the beginning of a day when filming is expected to be difficult, I cheerfully say, 'It's worth the money.'" Lee Hyo-ri, who heard this, also attracted attention by saying, "If the atmosphere during the CF shooting is cold, I will enter and say, 'I will get my money's worth.' I think everyone will like it."

Recently, as it was said that an actor worth 1 billion won per episode appeared in the entertainment industry, there was a debate about the 'ransom price' of actors. Kim Go-eun may not have been unaware of such issues, but she first mentioned the issue of 'money' and it became a hot topic. This led to interest in actors’ appearance fees.

In the case of athletes in the sports industry, their salaries are publicly announced, but the appearance fees of actors in the entertainment industry cannot be accurately known because they are confidential. However, the industry considers Jeon Ji-hyun, Song Hye-kyo, Song Joong-ki, Kim Soo-hyun, IU, Lee Jong-seok, and Park Bo-gum as 'highly paid' actors. Separately, in the case of Lee Jung-jae, the consensus in the industry is that his ransom has increased significantly in 'Squid Game 2' thanks to the global hit of the Netflix series 'Squid Game'. The industry estimates that Lee Jung-jae's appearance fee for 'Squid Game 2' is between 1 billion and 1.5 billion won per episode.

As the economic recession continues, there are reports that production costs for content such as dramas and movies have doubled, and voices are continuing that the rising price of actors is making the production environment more difficult. Accordingly, it is argued that it is necessary to adjust actors' appearance fees and establish guidelines.

For example, China announced a policy to standardize production cost distribution, including regulations on celebrity appearance fees, through the 14th 5-Year Jung-gu Drama Development Plan in 2022. An actor's appearance fee cannot exceed 40% of the total production cost, and the main actor's appearance fee cannot exceed 70% of the total production cost.

However, although most officials agree on the need for a policy to regulate appearance fees, it is unclear whether it will be effective in a domestic production environment where polarization and endless competition have intensified. An official said, “Because the production company holds the financial resources related to content production, there will continue to be moves to make it happen even if it means paying more if there is a desired cast.” He added, “Ultimately, the production companies must reach an agreement, but this is practically impossible.” Stirred.


Choi Ji-ye, Ten Asia Reporter wisdomart@tenasia.co.kr