Busan Film Festival director and acclaimed film critic Huh Moon-young said Leung is incomparable with other actors of his generation.
Among Leung's works are "many masterpieces that will long remain in the history of world cinema", Huh told reporters.
Leung has long been a well-liked figure in South Korea -- where Hong Kong cinema enjoyed peak popularity in the early 1990s -- and first appeared at the Busan festival in 1997.
Since then, South Korea has cemented its status as a global cultural powerhouse, thanks in part to the explosive success of the Oscar-winning film "Parasite" and the Netflix series "Squid Game".
Leung said the festival has come a long way since his first experience in Busan.
"When I first visited the Busan festival, the opening ceremony was held after the organisers set up a small stage on a narrow road," Leung said, adding that he lost a shoe during the chaos.
"It seems like things have been changed as I got to see such a grand opening ceremony yesterday. It was very nice to see."
Leung said he would like to work with two of South Korea's top stars -- actor Song Kang-ho of "Parasite" fame, and actress Jeon Do-yeon.
"I'm willing to go anywhere, including South Korea, Japan and Taiwan, as long as things are meant to be," he said.
"It's the connections and timing that make projects appear."
Source: AFP