The Asian Contents & Film Market (ACFM) is positioning itself for a major transformation as it marks its 20th anniversary alongside the Busan International Film Festival‘s 30th milestone, according to market director Ellen YD Kim.
Speaking with Variety, Kim outlines an ambitious vision that extends far beyond ACFM’s traditional role as a film sales venue. “We are evolving beyond a mere transactional venue into a dynamic crossroads where creators, investors, and platforms converge to spark new opportunities reflecting Asia’s content landscape,” she says.
Rather than simply commemorating the anniversaries, Kim views this as “a pivotal moment to transform current challenges into opportunities based on two decades of achievements.” To that end, ACFM has introduced what she describes as “an all-encompassing, innovative program.”
The market’s most significant addition this year is “InnoAsia,” an innovation platform that brings together major AI companies like Google, OpenAI, Midjourney and Amazon Web Services alongside Korean AI creative studios and Asian tech startups. The platform features conferences on AI and storytelling, creator boot camps, and hands-on experience zones including InnoStage and exhibition booths.
“This year, we launched InnoAsia, an innovation platform spotlighting the transformative impact of AI and advanced technologies on content creation,” Kim says. The multi-faceted platform “equips creators with practical tools and education, provides networking and investment opportunities for enterprises, and positions ACFM as a hub evolving beyond discourse toward tangible industry outcomes.”
“The lines between traditional film, series, animation, and immersive content are blurring rapidly,” Kim explains. “What we’re seeing is the emergence of content ecosystems where a single IP can span multiple formats.” She emphasizes that story, “as the fundamental source of all content, has tremendous potential for expansion and can be adapted into any format.”
This technological evolution reflects broader changes in buyer behavior that Kim has observed across the market. “Buyers are increasingly thinking in terms of franchises and multi-platform storytelling rather than limiting themselves to single formats. More importantly, we’re seeing a shift where buyers want to engage with projects at much earlier stages – not just purchasing finished products, but getting involved as co-producers or investors in the IP and creative development process.”
When combined with producers actively seeking strong IP, Kim notes that “the market is fundamentally transforming – evolving from a marketplace for finished product transactions into one focused on original source acquisition and production investment opportunities.”
The market records another milestone with its Asian Project Market (APM) setting a new submissions record, “reaffirming its position as the largest co-production and financing platform in the region.” The 30 selected projects from 15 countries tackle global issues including inequality, gender rights, LGBTQ+ themes, war and borders while showcasing diverse cultural contexts and genre experimentation.
Kim highlights the strong representation of directors with Busan ties, Asian Film Academy alumni, and Asian women creators. From Korea alone, seven new projects spanning coming-of-age dramas to occult horror are seeking international co-production opportunities. “The inclusion of directors like Kazuya Shiraishi and Yoon Eun-kyung, who bring distinctive genre sensibilities, feels especially fresh,” she notes.
The market is also expanding its co-production support through practical initiatives. The Producer Hub program facilitates “vital networking and matchmaking essential for co-productions,” while ACFM expands partnerships with national film agencies and institutions to promote support for international collaborations.
The ACF Co-production Support Fund provides production financing to a project this year, with expansion planned for next year. “We anticipate stronger support from the Korean Film Council in co-production initiatives,” Kim says.
Underpinning these efforts is “The A Report,” which compiles industry data and market trends from 17 Asian countries, “forming an informational foundation for collaboration.” Additionally, “The A Summit” offers policy insights and fosters institutional cooperation among Asian countries.
BIFF’s structural changes, including the merger of New Currents and Kim Jiseok sections into Vision Asia and the creation of a new Competition section, are creating fresh opportunities for the market side. Kim views the integration as “an evolution into Vision Asia, while the new competition emerges as a distinct main section.”
Vision Asia connects with Vision Korea “to foster genuine exchanges between Korean and Asian filmmakers, celebrating independent cinema through numerous awards,” while the Competition “strengthens BIFF’s role as a platform that gathers Asia’s best films.”
On the market side, ACFM is “deepening connections by supporting sales agent matchmaking, P&I screenings, and targeted introductions in territories where distribution has yet to be secured.” While it will take time for the new Competition to establish itself, “from the market’s perspective it sends a clearer signal to buyers and investors,” Kim notes.
With global markets like Cannes’ Marché du Film and the American Film Market competing for attention, Kim identifies ACFM’s unique strengths as “its identity as the hub for Asian content, its low entry barriers fostering open participation, and its scalability allowing diverse story-driven content to flourish.”
The market brings together creators, investors, and buyers from across Asia “in a uniquely diverse and global marketplace.” What also sets ACFM apart is “the synergy with BIFF — it offers an inseparable blend of artistic discovery and industrial opportunities, creating a compelling dual attraction for international delegates.”
Unlike BIFF Forum, which “targets general audiences and tends to be more theoretical and academic in nature,” the market is designed to “organically connect discourse that reflects professional market trends with project pitching, showcases, and industry networking.” This creates an environment where “concrete discussions closely aligned with market realities and trends can directly evolve into opportunities and co-production partnerships.”
“The core mission of ACFM is to directly bridge discourse with business inspiration and opportunities,” Kim emphasizes. “We’re not just facilitating conversations about the industry – we’re creating a space where those conversations immediately translate into tangible business outcomes and collaborative ventures.”
Looking ahead, Kim envisions ACFM built on five pillars: “Asian cooperation and policy, story development and IP trade, co-production support, distribution and overseas sales, and the intersection of technology and content.”
While “co-production and distribution markets centered on Asian cinema are our roots,” Kim hopes to “successfully navigate the waves of change in the market by absorbing the power of storytelling and future growth engines through innovative technologies.”
In five years, she envisions ACFM becoming “a platform that encompasses all the fascinating aspects of Asian content.” While maintaining its core focus on film, the market will “establish ourselves as a comprehensive Asian content hub that spans animation, series, new media, and technology-based content.”
Crucially, Kim emphasizes they’re “not replacing our existing film industry foundation, but rather expanding it and creating synergies.”
The transformation Kim describes represents just the beginning of a broader evolution. “We’re building an ecosystem where Asian stories can find their most powerful expression across any format,” Kim concludes, “where traditional cinema excellence meets cutting-edge innovation, and where our deep industry relationships become the foundation for entirely new forms of creative collaboration.”
