In Malaysia, while we’re still riding on the all-time high of the Hallyu wave, we still “suffer” from the lack of other forms of South Korean entertainment i.e. movies. But it appears that all of that is set to change soon. Very soon!
South Korea’s CJ CGV is the largest multiplex cinema chain in South Korea, and also has branches in places around the world. CGV takes its name from the first letter of the three words; “Cultural, Great and Vital”. Its chain includes 85 sites, 681 screens, and 100 thousand seats in Korea. In 2013, CGV’s 106 theatres and 833 screens in South Korea accounted for 101 million tickets (worth a gross of USD751 million) of the record-breaking 213 million admissions sold nationwide.
“Now that we’ve become the fifth company to hit the 100 million ticket sales mark, we are more confident that we’ve got the formula right and can live up to our ambitions,” says Yun Ik-jun, CGV’s executive VP.
And ambitious, they most certainly are, because our source indicates that CJ CGV now has eyes on Indonesia, Myanmar, and Malaysia – all fast-growing economies in underscreened markets. Yes, you read right. Malaysia. The company’s aggressive international expansion plans have taken it into Vietnam, where it is the leading cinema operator, and even the US, where its toehold is tiny for the moment – 3 screens in Los Angeles’ Koreatown.
As mentioned, the next phase of expansion – into Indonesia, Myanmar, and yes, Malaysia – is already under way. In Malaysia, CGV has identified its first multiplex site in Kuala Lumpur in a partnership with local firm Empire (Empire City, perhaps?), and in Myanmar, it has a memo of understanding with an undisclosed local firm.
“In Malaysia, Myanmar, and Indonesia, it is clear that we first have to cooperate with local partners,” Yun says. “Long-term, the plan is to implant our philosophy, translate best practices, and increase our Korean content.”
You know what this means though, right? We will finally have access to all the South Korean movies that we’ve been wanting to watch, without having to wait for the DVD to be released or for a TV station to air it months after the movie has premiered.
You know what else makes this deal a whole lot sweeter?
On top of that, we might or might not also get special screenings on very special occasions such as during the annual Mnet Asian Music Awards (MAMA). We know this because the CGV Cinemas in the US have organised one-off screenings previously, based on what we found on their official Twitter account:
WATCH 2012 MAMA on the BIG SCREEN!!! Of course, only at CGV Cinemas 😉 For Free tickets, visit CGV’s Facebook page.
— CGV Cinemas (@CGVcinemas) November 29, 2012
No information yet on how much the tickets will cost or if there’s an exact date for CGV Cinemas’ Malaysian launch. But this changes everything! And we can’t wait 😉
For more information, visit CGV’s website.