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The Oscar success of Bong Joon-Ho’s Parasite led to millions of western investment in South Korean cinema. Ringo Chiu/EPA Film awards are more than shiny trophies on a shelf representing the recognition of hard work and talent from fellow professionals. They can have a huge impact on which films gets financed, how much actors and directors get paid for subsequent projects, and can impact whole film industries in certain countries. Hence, it is sometimes argued that nominations matter as much as the awards, by creating extra buzz around films, directors and actors. Nominations for the Oscars can add around US$20 million (£14 million) to the total income made by the film. Wins are even more lucrative. The King’s Speech (2010) was initially projected to gross earnings just US$30 million. But after its Oscar nomination and victory for best picture, it went on to make more than US$400 million at the box office. This is because nominations and awards give films extra ....