Did 'King’s Warden' director Jang Hang-jun miss out on at least 3.5 to 6 billion won? "I didn’t sign a running guarantee deal"

(The Financial News) How much would great affection, fame, and new opportunities be worth if converted into money? For Jang Hang-jun, this was a rare opportunity that came 26 years after his debut. It would have been perfect if substantial earnings had followed as well, but it seems he was not particularly blessed when it comes to money.
On the 23rd, as "The King’s Warden" rose to No. 1 in all-time box office revenue among Korean films, attention turned to how much Jang Hang-jun, who directed the film, actually earned from its success. Earlier, the production company Onda Works said that while it was difficult to disclose specific contractual details, it was reviewing ways to reward various people who participated in the project. The company also explained that it uses "a structure that shares profits with many people," so even if total revenue is large, the actual settlement amount may be smaller than expected.
On the 23rd, Jang Hang-jun appeared on the YouTube channel "VIVO TV" together with actors Kim Eui-sung and Im Hyung-joon. During the show, he said he is preparing a carefully written, low-budget independent film as his next project. He commented, "Just because it became a 10-million-viewer film doesn’t mean I should lose my original passion for filmmaking," adding that he plans to both produce and direct the new movie himself.
Kim Eui-sung then asked, "Are you planning a low-budget film because you made a lot of money from 'King’s Warden'?" Im Hyung-joon chimed in, saying, "Didn’t you make a huge amount of money?" Jang Hang-jun responded, "Everyone seems to think that," and then confessed, "I didn’t secure a running guarantee."
When Im Hyung-joon asked, "Isn’t that kind of thing usually included automatically?" Kim Eui-sung added, "What director doesn’t negotiate a running guarantee?" In reply, Jang Hang-jun said, "There was talk about adding a running guarantee, but I chose to take an extra 5 to 6 million won in directing fees instead," expressing his regret.
A running guarantee is additional compensation a director receives in the form of a performance-based bonus when a film becomes a hit, on top of the basic directing fee. It is typically paid according to audience numbers once the movie passes its break-even point. Industry insiders estimated that if Jang Hang-jun had signed a running guarantee contract, he could have earned at least about 3.5 billion to as much as 6 billion won. This estimate is based on roughly 300 to 500 won per ticket sold.
However, the content in question is produced in a fake documentary format, so viewers should keep in mind that the cast’s remarks mix reality and fiction. Even so, his comments appear close to the truth. On the March 11 episode of "Keeping Secrets" on VIVO TV, when asked, "Are you making a lot of money from this?" Jang Hang-jun said, "I had no idea it would blow up like this, so I only took a very small share," adding, "The more I think about it, the more I regret it."
jashin@fnnews.com Reporter Shin Jin-ah Reporter