From 1996 onwards

Although 1996 was a year that saw impressive debuts by some future giants of Korean cinema, perhaps the biggest debut of all was that of Korea's first international film festival. The launching of PIFF, the Pusan International Film Festival, was an ambitious and daring gamble that has proved to be one of Korean cinema's biggest success stories. Apart from its burgeoning importance to Asian cinema as a whole, the festival also served as the major catalyst in making Korea an active participant in the international film community, rather than just an observer.

The strong international reception of the festival also gave Korean cinema a platform on which to highlight some of its best films from the past and present. PIFF's first edition in 1996 featured debut works by Hong Sang-soo (The Day a Pig Fell Into the Well), Kim Ki-duk (Crocodile), and Yim Soon-rye (Three Friends). Hong Sang-soo has been described by many as Korea's most talented arthouse director; Kim Ki-duk's unique, tortured vision has fascinated international festival audiences, while Yim Soon-rye marks the first major female auteur to debut in contemporary Korea. PIFF was instrumental in launching these three directors onto the world film scene.

One last directorial debut of note was that of Kang Je-gyu with the fantasy romance The Gingko Bed. Although it proved a strong hit at the box-office and contributed to the emergence of actor Han Suk-kyu, it would be Kang's second film Shiri in 1999 that would really make waves in the industry.