SEOUL, Feb. 20 (Korea Bizwire) — The average cost of a movie ticket in South Korea exceeded 10,000 won (US$7.70) for the first time last year, a government report showed Monday. According to the 2022 report on the film industry by the Korean Film Council (KOFIC), the average price of a movie ticket in South [...]
SEOUL, Aug. 17 (Korea Bizwire) — The Korean film industry saw its monthly sales soar nearly 150 percent on-year in July on the back of several box-office hits, data showed Wednesday. The industry’s total revenue amounted to 170.4 billion won (US$130.2 million) last month, up 149.4 percent from 68.3 billion won a year earlier, according [...]
SEOUL, June 16 (Korea Bizwire) — The South Korean box office posted a sharp rise both in monthly revenues and admissions for May thanks to the bullish run by the smash-hit action comedy “The Roundup,” data showed Thursday. According to the monthly report by the Korean Film Council (KOFIC), the local film industry posted a [...]
SEOUL, April 26 (Korea Bizwire) — With many South Koreans opting to stay at home to watch movies rather than going to movie theaters, consumer patterns in movie consumption are also changing. The Korea Film Council reported that movie theaters only accounted for 30.4 percent of revenue in the entire film industry last year, which [...]
SEOUL, Feb. 22 (Korea Bizwire) — South Korea’s filmmaking industry contracted for a second straight year in 2021 due mainly to the yearslong COVID-19 pandemic, government data showed Tuesday. The aggregated revenues of the local film market, which includes domestic sales of movie tickets, and online releases and exports, reached 1.02 trillion won (US$855 million) [...]
SEOUL, Feb. 24 (Korea Bizwire) — An increasing number of movie theaters in South Korea are being transformed into places where a variety of leisure activities ranging from games to travel can be enjoyed. The nation’s film industry is exploring various ways to survive as the number of moviegoers has declined sharply due to the [...]
SEOUL, Feb. 18 (Korea Bizwire) — Kim Eun-hee, 41, is a casual moviegoer who would normally go to theaters once or twice a month to hang out with friends on weekends. But last year, she never once went to the cinema, partly out of fears of possibly being infected with the novel coronavirus in a [...]
SEOUL, Dec. 14 (Korea Bizwire) — The South Korean film industry is expected to see its total revenue fall to a record low this year due to the fallout from the novel coronavirus pandemic. The Korean Film Council (KOFIC) said Monday that the 2020 revenue from movie theaters, online video sales and overseas sales will [...]
SEOUL, Dec. 8 (Korea Bizwire) — The South Korean film industry is struggling to stem further COVID-19 infections as some filmmakers have tested positive for the virus. Earlier this week, director Min Kyu-dong, who directed the romantic comedy “All About My Wife” (2012) and the drama “Herstory” (2018), tested positive for COVID-19. As Min, co-president [...]
SEOUL, Nov. 16 (Korea Bizwire) — South Korean movie theaters and film distributors again struggled with operating losses in the third quarter due to the protracted novel coronavirus pandemic, but their deficit contracted from three months earlier, industry reports showed Monday. CJ CGV, the leading multiplex chain in South Korea, saw its third-quarter operating loss [...]