A typhoon and a government budget cut did not stop cinema lovers from flocking to Asia's most influential film festival. The annual Busan International Film Festival drew to a close on Saturday with a record number of visitors and many new Asian movies for the world to enjoy.

Movies from South Korea and Mongolia have won $30,000 New Currents Awards for emerging filmmakers at Asia’s largest film festival. Busan International Film Festival organizers said Saturday that the festival’s biggest prizes went to “Pascha” by South Korean director Ahn Seonkyoung and “Remote Control” by Mongolia’s Sakhya Byamba. It’s the first time a Mongolian movie entered and won the competition in the festival’s 18 years.

Asian cinema is definitely reaching a global break-out point. According to the United States-based Motion Picture Association, box office growth in Asia surged 15 percent to $10.4 billion, compared to an uptick of six percent in North America (to $10.8 billion). Asia is on the cusp of becoming the world’s biggest market for cinema.