The Daejong Film Awards are seeking a new owner as the creditors of the Korean Film Producers Association are putting the film festival’s trademark up for public sale. Lawyer Ko Yoon-ki, the legal representative of the association’s creditors, announced on the 22nd that the bidding for the sale of the Daejong Film Awards trademark, which is owned by the Korean Film Producers Association, is closing.

The deadline for bidding is today at 6 PM, with the minimum sale price set at 56 million won (including VAT). The opening of the bids is scheduled for 9 AM on the 25th. Several organizations have expressed interest in bidding. The Korean Film Planning Producers Association, a subordinate organization of the Korean Film Producers Association, is participating.

Local governments and foundations have also shown interest. The trademark for the Daejong Film Awards is a special intellectual property known as a “service mark” under trademark law. With the acquisition of the trademark, the right to host the Daejong Film Awards will also be transferred. If the trademark is acquired, it will be possible to host the Daejong Film Awards following the Korean Film Producers Association.

It is expected that this longstanding awards ceremony will be normalized. Last December, the Korean Film Producers Association was declared bankrupt by the court. They underwent rehabilitation procedures for the past nine months, but the appeal against the bankruptcy declaration was dismissed last month. Meanwhile, the Daejong Film Awards is the oldest film awards ceremony in the country.

<Photo source=Daejong Film Awards Poster>