Seven CGV branches nationwide will suspend operations due to the impact of the novel coronavirus infection (COVID-19).

CGV announced on the 22nd that

"Operations at 7 branches – Daehangno, Myeongdong Station Cine Library, Deungchon, Yeonsu Station, Hongseong, Daegu Academy, and Gwangju Geumnam-ro – will be suspended starting the 26th. We have no choice but to suspend operations at some theaters to overcome the management difficulties caused by the prolonged COVID-19 pandemic," the company stated.

CGV announced on the 19th that it plans to reduce about 35-40 of its 119 directly managed stores nationwide within three years.

This means about 30% of its directly managed stores will close.

In addition, the company also announced an increase in movie ticket prices.

Ticket prices will be increased by 1,000 to 2,000 won.

For general 2D movies shown after 1 PM on weekdays (Monday-Thursday), the price will be adjusted to 12,000 won, and on weekends (Friday-Sunday), it will be 13,000 won.

The tiered pricing system, which divided prices into Economy, Standard, and Prime based on seat location, will be abolished this time.

However, seats in rows A and B, the front rows with inconvenient viewing angles, will receive a 1,000 won discount.

In addition, prices for special theaters will also be adjusted, with 4DX and IMAX tickets increasing by 1,000 won each.

On the other hand, the price for the previously expensive "Cine & Living Room" will be lowered.

It will be reduced from 25,000 won on weekdays and 27,500 won on weekends to the 20,000 won range for both weekdays and weekends.

ScreenX, Cine & Forest, Cine de Chef, and Gold Class will have no price changes.

CGV's operating loss in the first half of this year exceeded 200 billion won.

In fact, all sectors of the film industry are facing a crisis of extinction this year.

Major domestic and international films have been significantly postponed, and anxiety about visiting public places has increased, leading to a 70% drop in audience numbers in the same period last year by September of this year.

Lotte Cinema and Megabox have denied immediate price increases but have left open the possibility of future hikes.

These are English translations of articles from our GTTOUR Japanese website.