Korea's CGV to open third cinema in China

SEOUL, Nov. 18 (Yonhap) -- CJ CGV is to open its third theater in Wuhan of
central China's Hubei Province, three years after the opening of its first
overseas branch, the major South Korean exhibitor said Wednesday.
CJ CGV, which operates South Korea's largest multiplex cinema chain CGV with its
headquarters in Seoul, formed a joint venture company with Chinese state-owned
studio ShanghaiFilm Group in 2006 and has built two multiplexes in Shanghai and
Beijing.
The new six-screen, 940-seat multiplex in Wuhan City will open Thursday with the
opening ceremony attended by South Korean singer Andy, the company said in a
press release.
A subsidiary of CJ Group, CJ CGV was established in 1996 and opened its first
multiplex cinema in Korea two years later.
Currently operating over 450 screens in Korea, the South Korean firm opened its
first overseas branch in China in 2006, also expanding to the United States by
building a 650-seat multiplex in Los Angeles last year.
CJ CGV now has about 30 percent of the market share in South Korea.
hayney@yna.co.kr
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