Oscars 2020: 'Parasite' wins Best Picture

Bong Joon Ho, right, reacts as he is presented with the award for best picture for "Parasite" from presenter Jane Fonda at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles. Looking on from left are Kang-Ho Song and Kwak Sin Ae.(AP Photo/Chris Pizzello)

Parasite has been named Best Picture at the 92nd Academy Awards in Hollywood. It’s the first foreign language film to ever win a Best Picture Academy Award.

The Korean film won over 1917 Ford V Ferrari (released in the UK as Le Mans ‘66), The Irishman, Jojo Rabbit, Joker, Little Women, Marriage Story, Once Upon A Time... In Hollywood, and Parasite.

It completes an incredible night for the Bong Joon Ho film which four won Oscars in total. The filmmaker also won Best Directing, Best International Feature, and Best Original Screenpley.

Read more: Oscars 2020 highlights

Producer Kwak Sin-ae collected the best picture prize and said: "I'm speechless, we never imagined this to happen.

"I feel like a very opportune moment in history is happening right now.

"I express my deepest gratitude and respect to the Academy for making this decision."

A still from Bong Joon Ho's Parasite. (Curzon)

Accepting the directing award, Bong paid tribute to fellow nominee Martin Scorsese, asking the audience to stand in his honour, before adding: "When I was in school, I studied Martin Scorsese films.

"Just to be nominated was a huge honour, I never thought that I would win. When people in the US were not familiar with my film, Quentin (Tarantino) always put my films on his list - Quentin, I love you.

Read more: Oscars 2020 winners list

"And Todd (Phillips) and Sam (Mendes), great directors I admire. If the Academy allowed, I would like to get a Texas chainsaw, split the trophy into five and share it with all of you."

He added: "I will drink until next morning."

Earlier this month, the film was also named the winner of best film not in the English language at the Baftas, where it also won the original screenplay award.

It has also established a firm presence online, where gifs from the film have become popular on Twitter and young cinephiles have dubbed themselves the #Bonghive.

What's it about?

The movie follows the unemployed Kim family, who slowly work their way into the lives and the home of the wealthy Park family.

They lie about their qualifications and relationship to each other to become indispensable to their oblivious employers and develop a taste for the good life.

The film stars the director's frequent collaborator Song Kang Ho as Kim Ki-taek, whose family are all living in a squalid basement until his son lies his way into a tutoring job with the Parks.

One by one, they gradually infiltrate their luxurious home, attempting to take over their affluent lifestyle.

However, things take a dark turn when an unexpected interloper threatens their new comfort.

The 92nd Academy Awards took place overnight at the Dolby Theatre in Los Angeles.