Released on January 21, Project Y began simultaneous VOD service on February 6, just 16 days after its theatrical debut. Such a rapid transition is considered extremely rare for Korean films. As of February 9, the movie had drawn approximately 136,000 to 140,000 viewers, reaching only about 13–14% of its estimated break-even point of 1–1.1 million admissions.
The film initially opened at No. 2 on the box office chart but quickly dropped to fifth place by its first weekend before falling out of the top 10 altogether. Prior to its release, Project Y generated strong buzz after being invited to major international film festivals, including the Toronto International Film Festival, Busan International Film Festival, London East Asia Film Festival, and Hawaii International Film Festival. With Han So-hee and Jeon Jong-seo leading a solid supporting cast and an unconventional premise, expectations were notably high.
However, audience reception proved harsh. The film currently holds a Naver user rating in the mid-6 range, a sharp decline from its early 8-point score, while CGV’s Egg Index stands at around 83%.
Upon its release, Project Y immediately faced a fierce wave of criticism over its content and execution. The film was accused of overusing 18+ elements, with many scenes deemed sensational and distasteful, lacking clear artistic intent. Meanwhile, the storyline was criticized as thin and disjointed. Many viewers argued that the film was disguised as a story about feminism or action but in reality revolved around shock-value imagery, portraying the lives of female characters in a negative and stereotypical manner. Across major online forums, numerous voices expressed deep disappointment, with some even calling for a permanent ban, claiming the film not only failed artistically but also left audiences feeling uncomfortable and repulsed.
Viewers expecting a tense crime thriller and chase-driven plot commented that “the tension drops sharply after the midpoint,” while others argued that the film relied too heavily on flashy concepts without a strong narrative backbone. Some critics went as far as labeling it “a hollow noir focused more on style than substance.”
The film’s depiction of the nightlife industry and its explicit content also sparked discomfort among some viewers. Although marketed as a female-driven story, detractors argued that the characters were ultimately sensationalized rather than meaningfully explored.
Despite checking all the boxes, top-tier casting, film festival recognition, and a bold setup, Project Y failed to deliver the solid storytelling and emotional resonance increasingly demanded of theatrical releases in the OTT era. As a result, the much-hyped dual lead project starring Han So-hee and Jeon Jong-seo has been forced into an early home release less than three weeks after opening, marking a sobering outcome for what was once considered a major box office contender.
Sources: Naver
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