Lotte Cinema announced their take-over of six screens in Vietnam of the modest Korean exhibitor DMC and their plan to vertically integrate into the Vietnamese market with a Lotte Mart Superstore in combination with a multiplex. This makes Lotte the first major Korean exhibitor to venture into Vietnam.
The screens formerly owned by DMC constitutes of three screens in Ho Chi Minh City and three in Danang. The Lotte Mart Superstore and Lotte Cinema Multiplex combination will be opened in Ho Chi Minh City. Lotte Cinema has also plans to start multiplexes in other main Vietnamese cities, including Hanoi.
Lotte motivated its move by arguing that film exhibition opportunities are still lagging behind the fast economic development in Vietnam. Lotte also intends to show Korean films. Korean media is popular in Vietnam.
With its international initiatives, Lotte Cinema follows in the footsteps of the other two major Korean exhibitors CJ/CGV and Megabox who also pioneered multiplexes outside Korea, namely in China.
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