This chapter assesses whether Korean film policies have been instrumental for the success of the Korean film industry . The major finding of this analysis is that protectionist policies in the film industry have played an insignificant role. First, the import quota regime did not limit the size of the Korean audiences that watched foreign films, but rather strongly induced Korean filmmakers to produce poor quality movies. Second, the screen quota system has not ensured that the domestic audience will watch these movies. Finally, the subsidy policy was barely noticeable before the late 1990s and is now too late and too small to be credited for any significant impact on the success of the Korean film industry which began from the early 1990s. The results of this chapter suggest that business activities under market-friendly conditions are the key factor toward enhancing competitiveness of the film industry. Furthermore, it recommends that policymakers in other countries review their own policies that advocate protectionism as a way to make their film industry more competitive and attractive.