[Wikitree] Korean Film with Just $370,000 Budget Achieves Miracle... Hits #1 on Netflix in One Day

Director Hyun Harry wiped away tears as she mentioned the late lead actor Song Jae-rim during last January’s press conference for the film Crypto Man. / News1

A Korean film that failed at the box office but is making a reverse run immediately after its Netflix release

The late Song Jae-rim's final film 'Crypto Man' achieved miraculous results just one day after its release on Netflix. Directed by Harry Hyun, 'Crypto Man' took the #1 spot in 'Today's Top 10 Movies in South Korea' on the 24th, just one day after its release on Netflix on the 23rd. It maintained its top position on the 25th, holding the #1 spot for two consecutive days.

This film, with a production budget of just $370,000, attracted only 22,386 viewers during its theatrical release in January, but is now receiving an explosive response beyond expectations on the OTT platform. It has currently reached the top, surpassing formidable works such as 'Stella,' 'i-Hostage,' and 'The Family.'

'Crypto Man' is a crime drama inspired by the global cryptocurrency crash that caused 50 trillion won to evaporate. In particular, it focuses on the Luna and Terra coin crash that affected 280,000 victims in South Korea alone. The film vividly portrays the reality of young people addicted to get-rich-quick cryptocurrency schemes and the dark side of startup investments through the story of Yang Do-hyun (played by Song Jae-rim), a self-proclaimed business genius and developer of the cryptocurrency 'MOMMY,' who collapses in an instant.

The film persistently delves into the process of Yang Do-hyun, who repeats startups and closures by exploiting loopholes in youth startup funding, before developing the 'MOMMY' coin with investor Kevin's help and achieving success, only to fall due to financial authorities' surveillance and market collapse. It sharply depicts greed surrounding cryptocurrency, manipulation, the hollow desires of young people, and blind spots in the system, reflecting reality.

The film was directed by Harry Hyun, a former current affairs PD, and features Ahn Woo-yeon, Min Sung-wook, So Hee-jung, and Cha Jung-won. Notably, Director Hyun was an actual victim of the Luna coin incident. At a press conference held at CGV Yongsan I'Park Mall in Yongsan-gu, Seoul on January 6, she revealed, "I am actually a victim of Luna coin" and "I tried to direct with a neutral and multi-faceted perspective while making the film."

Director Hyun recalled the cryptocurrency investment fever at the time, saying, "In early 2022, you were considered foolish among my peers if you didn't buy Luna coin," and "It was a time full of hope that cryptocurrency would definitely rise if you bought it. But eventually, it crashed." Based on actual experience, the work is being praised for its outstanding realism.

The biggest topic is undoubtedly the late Song Jae-rim's passionate performance. As it is the final work of the actor who tragically passed away last November at age 39, viewers are paying close attention. Director Harry Hyun recalled Song Jae-rim, shedding tears while saying, "He had very extensive knowledge about stocks and cryptocurrency" and "He contributed many ideas from the planning stage and was such a warm person."

In particular, Min Sung-wook praised Song Jae-rim, saying, "During filming, I realized what an expressive actor he was" and "I wonder if he was too underrated. I think this might be the best work in his filmography." He also expressed his longing, saying, "Unlike his cool image, he was a friend who was very sincere about acting," and "His eye acting in the final scene was truly amazing. This seems like Song Jae-rim's best work. I miss him a lot."

Ahn Woo-yeon also remembered him, saying, "I met (Song Jae-rim) on 'Radio Star' five years ago. We only knew each other by face, so I didn't know his personality well," and "I thought he wasn't very sociable, but during this film, he treated me really well. He was considerate and a pure person with a playful spirit."

This low-budget independent film has recorded an audience score of 8.04 (out of 10) on portal sites like Naver, receiving positive reviews such as "fresh and realistic despite being a low-budget film" and "good immersion and message." In particular, continuous praise for Song Jae-rim's sincere acting makes this film even more meaningful as his final work.

In the film, Song Jae-rim played Yang Do-hyun, a cryptocurrency developer, delicately and densely expressing the process of a successful young businessman's sudden downfall. The Luna coin incident, which inspired the film, was a tragic event where many investors lost their assets in an instant. Director Hyun explained her directorial intention, saying, "After the Luna coin incident broke out, I found it interesting that someone with good credentials suddenly created a cryptocurrency," and "I thought the criminal weight of Luna coin was heavy, so I didn't lighten the crimes or deeply include victims' stories."

Meanwhile, as of the morning of April 26, 'Crypto Man' maintains its #1 position in Netflix's 'Today's Top 10 Movies in South Korea,' followed by 'Stella,' 'i-Hostage,' 'The Family,' and 'Shinkansen Big Explosion.' Although 'Crypto Man' failed at the box office, it is receiving public reevaluation through Netflix's reverse run.

Below is the Netflix 'Today's Top 10 Movies in South Korea' ranking as of the morning of the 26th (based on the 25th):

1. Crypto Man

2. Stella

3. i-Hostage

4. The Family

5. Shinkansen Big Explosion

6. Filial Duty

7. Mission Impossible: Dead Reckoning

8. Im Young-woong | I Am Hero The Stadium

9. Dream Palace

10. Firefighter