Magazine article Screen International

Korea's CJ CGV and Lotte Add New Cinemas in Vietnam

Magazine article Screen International

Korea's CJ CGV and Lotte Add New Cinemas in Vietnam

Article excerpt

South Korea's two leading exhibitors CJ CGV and Lotte Cinema are adding steam to their launches into Vietnam, a market of increasing interest in the region.

CJ CGV this month opened their eighth and ninth multiplexes with Vietnam's top Megastar chain which they acquired last year, while Lotte Cinema opened its fourth multiplex in Vietnam on Dec. 31.

This brings CGV's total screen count to 69 and Lotte's to 14. The latter company first launched into the Vietnam market in 2008 when it acquired Diamond Cinema Joint Venture Company (DMC). The company has so far opened cinemas in Ho Chi Minh City, Hanoi and Danang, and aims to have 18 theaters with 95 screens by 2015.

CGV entered the market later, in July 2011, but advanced at a faster pace by picking up the country's leading exhibitor Megastar Media Company. With cinemas in Ho Chi Minh and Hanoi, the company plans to expand across the board to have 24 cinemas with 198 screens by 2016. …

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