SEOUL, May 8 (Korea Bizwire) — South Korean media giant JoongAng Group and retail conglomerate Lotte Group signed an agreement Thursday to merge their respective affiliates that operate Megabox and Lotte Cinema — the country’s third- and second-largest movie theater chains. JoongAng Group announced that it signed a memorandum of understanding (MOU) with Lotte Group [...]
SEOUL, May 17 (Korea Bizwire) — South Korea’s major cinema chains remained in the red in the first quarter of this year amid the protracted COVID-19 pandemic, but the lifting of distancing rules will likely provide them fresh momentum for a possible turnaround in the coming quarters, data showed Tuesday. CJ CGV, the No. 1 [...]
SEOUL, Feb. 21 (Korea Bizwire) – South Korea’s major multiplex operators stayed in the red in the fourth quarter of last year amid the protracted COVID-19 pandemic but are expected to turn a corner in the coming quarters, financial data showed Monday. CJ CGV, the No. 1 multiplex operator under the wing of entertainment giant [...]