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Korean Film News
Korea’s Lotte Cinema opens fourth Vietnam multiplex
Dec 30, 2011
Major South Korean exhibition chain and affiliate of major Korean distribution company LotteEntertainment, Lotte Cinema is opening its fourth theater in Vietnam on Dec. 31. The new five-screen multiplex will be in Hanoi, with 848 seats and 3D projection.
Lotte Cinema has been in the Vietnamese exhibition sector since 2008 when it acquired the Diamond Cinema Joint Venture Company (DMC). Lotte Cinema opened its first theater with three screens in Ho Chi Minh City that year, and then another with three more screens in Danang. The company’s third multiplex opened in Ho Chi Minh City with six screens.
The Hanoi Landmark theater will be Lotte’s first in the capital. The company has plans to open additional new screens in Ho Chi Minh City, and aims to have 18 theaters with 95 screens by 2015.
Lotte Cinema also opened its first multiplex in China last year in Shenyang, the capital of Liaoning Province and Northeast China’s biggest city. The six-screen multiplex has 757 seats, full digital projection, and three 3D projectors.
Earlier this year in July, leading South Korean exhibition company and affiliate of CJ E&M, CJ CGValso acquired Vietnam’s Megastar Media Company. The company held a 60% market share in the Vietnamese exhibition sector and seven multiplexes with 54 screens in major cities around Vietnam including Ho Chi Minh and Hanoi.
CJ CGV was the first South Korean company to launch into the mainland China exhibition market, in 2006. Branding itself as luxury cinema-going, CJ CGV has five multiplexes in cities all around China including Shanghai and Beijing.
Dec. 30, 2011