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 [...]
SEJONG, June 18 (Korea Bizwire) — South Korea’s antitrust watchdog said Thursday that it has started a probe to determine if local multiplex theaters engage in unfair trade practices that hurt consumers. The Fair Trade Commission (FTC) said it is trying to determine if CJ CGV, Lotte Cinema and Megabox forced customers to view extended advertisements and made [...]
SEOUL, Dec. 24 (Korea Bizwire) – The Ministry of Culture, Sports, and Tourism has decided not to extend subsidies to large film distributors such as CJ E&M and Lotte Entertainment for their Korean-made movies. It was a follow-up measure after the Fair Trade Commission announced on December 22 that it would impose fines of 5.5 billion won (3.2 billion won [...]