Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) Jiye Kim Journalist = CJ CGV opens 50th theater in Foshan, Guangdong Province on September 23, 10 years after its first advance to Chinese market.

Adding up one more new theater, CGV is currently operates 50 cinemas with 401 screens in 28 cities around country including Shanghai, Beijing, Wuhan, and Tianjin. This is a substantial growth comes 10 years after launching CGV Shanghai, the first CGV cinema in China.

CGV aims to make profits of 210 billion won (177 million dollar) in the Chinese market this year, the earnings expected from 12 already operating cinemas and 26 would-be-built ones. It is almost doubled target compared to the last year’s 115 billion won revenue from 38 theaters. Furthermore, the company schemes to build up new branches up to 64 in this year and 80 in the following year.

Seo Jung, a chief executive officer of CJ CGV announced that,"We'll move fast toward the goal of becoming the fifth-largest cinema chain in China next year, dominating the market in advance."he added,"We'll advance to other parts of the world such as Indonesia, Myanmar and Vietnam over China, to be a global no.1 cultureplex."

NSP News Agency/NSP TV Jiye Kim Journalist, graekim@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.