Inaugurated in 1997, the festival focuses on South Korean and international horror, thriller, mystery and fantasy films, with particular attention to Asian cinema from East Asia and Southeast Asia.

[citation needed] Until 2015, it was known as the Puchon International Fantastic Film Festival, or PiFan.

[1] The festival faced a boycott in 2005 to protest what was seen by critics as meddling by Bucheon mayor Hong Geon-pyo.

A rival event called RealFanta was organized that year on the same dates as BiFan by former festival director Kim Hong-joon.

The festival returned in 2006 without any dispute under the direction of veteran filmmaker Lee Jang-ho and a new programming team.