$140 Million Loss? Oscar-Winning Director’s Movie Tops in America Yet Flops in Korea—What Went Wrong?

Bong Joon-ho’s much-anticipated sci-fi epic, Mickey 17, continues to dominate the North American box office, holding the No.1 spot for 19 consecutive days. However, in stark contrast, the film is experiencing record-low daily attendance in South Korea, raising concerns about its overall profitability.

Box Office Performance: No.1 But Struggling to Break Even

According to Korea’s Korean Film Council (KOFIC), Mickey 17 retained its top position at the box office on March 18, bringing its total domestic admissions to 2.66 million with a cumulative revenue of ₩26.35 billion ($19.5 million USD). Despite maintaining its market share at 34%, the film's daily admissions dropped to an all-time low of just 27,301 viewers—a dramatic decline from 117,416 daily admissions just two days prior.

While the film had strong weekday attendance during its second week, its numbers have plummeted in its third week, leading to concerns over its long-term performance.

North American Box Office Success vs. Financial Concerns

In the U.S. box office, Mickey 17 has amassed:

$33.3 million in its first 10 days (as of March 16, 2025)

$90.5 million globally

While these numbers mark the highest-grossing film directed by a Korean filmmaker, the film is still underperforming compared to expectations.

Why Is ‘Mickey 17’ a Financial Risk for Warner Bros.?

Despite its record-setting status, Mickey 17 faces a steep financial challenge due to its enormous production and marketing costs:

Production Budget: $118 million (₩1.7 trillion KRW)

Estimated Total Break-even Point (including marketing): $300 million (₩4.3 trillion KRW)

According to Variety, the film is at risk of being one of the most expensive Warner Bros. flops in recent years. Variety added, "While Mickey 17 led box offices in 70 international markets last weekend, its costly production makes profitability difficult."

Additionally, U.S. industry insiders predict that Warner Bros. could face a staggering $100 million (₩1.44 trillion) loss if the film fails to reach its break-even point.

Adding to concerns, Mickey 17 will be available for digital streaming in the U.S. starting March 25—just weeks after its theatrical debut. This move has fueled speculation that Warner Bros. is cutting its theatrical run short due to underperformance.

“The film's U.S. earnings are expected to close at just under $40 million—$10 million less than Parasite’s domestic box office total.” — Collider

Korean Market: Why Is ‘Mickey 17’ Underperforming?

Despite Bong Joon-ho’s legendary status as the director of Parasite (which won four Academy Awards), Mickey 17 is struggling in its home country. Factors contributing to its poor domestic performance include:

Sci-fi Fatigue: The sci-fi genre has historically struggled in Korea compared to action or melodrama.

Lack of Korean Cast: Unlike Parasite, which featured an all-Korean cast, Mickey 17 stars Robert Pattinson, making it feel less connected to local audiences.

Competition: Films like ‘Attack on Titan: The Final Chapter’ and domestic thrillers are pulling viewers away.

Korea’s Current Box Office Rankings (March 18, 2025):

Top 10 Films in Korea:

1️⃣ Mickey 17 – 27,301 daily admissions (2.66 million total viewers)

2️⃣ Attack on Titan: The Final Chapter – 1.71 million total admissions

3️⃣ Invasion – 660,580 total admissions

4️⃣ Conclave

5️⃣ Whiplash

6️⃣ Exorcist

7️⃣ Emilia Perez

8️⃣ Novocaine

9️⃣ Captain America: Brave New World

🔟 White Bird

As the film approaches its fourth week in theaters, analysts predict that its theatrical run could be cut short, especially with its upcoming streaming release on March 25.

While Mickey 17 has made history as the highest-grossing film by a Korean director, its box office challenges and financial risks highlight the unpredictable nature of big-budget filmmaking.

Will Bong Joon-ho’s ambitious sci-fi epic recover financially, or will it go down as one of Hollywood’s most expensive box office risks? Time will tell.