SEOUL, Apr. 9 (Korea Bizwire) — Lotte Cinema will launch a video streaming service in June for the first time as a Korean cinema chain, the company said on Sunday. “We’re preparing for ‘Over the Top (OTT)’ and other new platform services with the aim of launching them in June,” Lotte said in a press [...]
SEOUL, April 6 (Korea Bizwire) — A little over two years ago , South Korean movie theater chain CJ CGV introduced a graded pricing system that was criticized as a cover for raising ticket prices. Under the pricing system, while the price of certain seating areas actually dropped by 1,000 won, the price of seats [...]
SEOUL, March 21 (Korea Bizwire) — South Koreans now have limited options at the cinema with only a few blockbuster films dominating the big screen. Touted by major movie theater chains, large-budget films from major film studios have been carrying water for the industry, bringing millions of people to the cinema, and coining the term ’10 [...]
SEOUL, Jan. 12 (Korea Bizwire) – Performance hall? Movie Theater? Why not both? The result of such musings is “Airflix”, a new-concept theater that is the product of the modern milieu that seeks to hack away at unseen inefficiencies everywhere. Calling itself a “shared economy movie theater platform”, the first location at performance hall Platform-L [...]
SEOUL, Sept. 22 (Korea Bizwire) – Delight turned to outrage on the evening of September 20 when Kingsmen Colin Firth, Tager Egerton and Mark Strong failed to take the stage for a face to face with fans. Everything leading up to that moment seemed like a storybook ending for the visiting British actors after successfully [...]
SEOUL, Aug. 31 (Korea Bizwire) – Lotte Shopping Co., the retail unit of Lotte Group, said Thursday its plan to hive off the cinema department into a separate company has been postponed due to a court decision. In June, the company’s board members approved the plan to spin off its cinema business as a subsidiary [...]
SEOUL, Jul. 19 (Korea Bizwire) — With the annual number of moviegoers in South Korea peaking at around 200 million, and the multiplex industry stagnating, top movie theater chains are ramping up investment in infrastructure and making concerted efforts to branch out into international markets. Amid the rise of video streaming services and IPTV, and [...]
SEOUL, Jul. 13 (Korea Bizwire) — Samsung Electronics Co. on Thursday introduced the world’s first LED theater solution, which boasts far improved display resolution compared to traditional movie screens. Under cooperation with Lotte Cinema, a major movie chain in South Korea, Samsung said it successfully installed its cinema LED screen. “Based on Samsung’s display technology, [...]
SEOUL, June 8 (Korea Bizwire) – Lotte Shopping Co., the retail unit of Lotte Group, said Thursday its cinema department will be hived off later this year, a move it says will boost each unit’s business competitiveness. During a regular board meeting Thursday, the members approved the plan to spin off the company’s cinema business [...]
SEOUL, June 8 (Korea Bizwire) – Earlier this week, CJ CGV, South Korea’s largest multiplex operator, celebrated its 1 billionth moviegoer since it opened its first multiplex in Seoul in 1998. Multiplex cinemas currently dominate South Korea’s film market. As of 2016, CGV, Lotte Cinema, and Megabox – the big three cinema operators – boasted [...]