An annual international film festival has kicked off in the southern port city of Busan, featuring 262 films from 63 countries.

The "Pusan International Film Festival," one of the most high-profile film fests in Asia, will run till next Friday, with a string of official world premieres to be screened during the 9-day event.

A re-worked version of "2046" by Hong Kong auteur Wong Kar Wei will open the festival, while "The Scarlet Letter" by Korean director Daniel Byun will be the closing film.

An official of the organizing committee said this year's event will shed more light on works from Africa and Latin America, although Asian films will still take center stage.

Big name directors and stars from China will also appear at the opening ceremony.

The spelling of the host city of the film festival has changed from "Pusan" to "Busan" after the film festival was established.