Native name | 롯데컬처웍스 |
|---|---|
| Company type | Private |
| Industry | Entertainment |
| Founded | September 1999 [1] |
| Headquarters | , |
Key people | Byung-hwan Choi, CEO [2] |
| Services | Distribution, film production, finance, exhibition |
| Owner | Lotte Corporation (aka Lotte Group) |
| Parent | Lotte Shopping |
| Divisions | Lotte Entertainment, Lotte Cinema |
| Website | www.lottecinema.co.kr |
Lotte Cultureworks ( Korean: 롯데컬처웍스) is a Republic of Korea company that houses Lotte Cinema ( Korean: 롯데시네마) and Lotte Entertainment ( Korean: 롯데엔터테인먼트). [3]
History
Lotte Cultureworks originally began as Lotte Cinema, which was a division of Lotte Shopping, in 1999. [4] In September 2003, Lotte Entertainment was created under Lotte Shopping to manage film production, distribution, investment, and international sales. [5] In 2018, Lotte Corporation spun-off the entertainment branch from Lotte Shopping as Lotte Cultureworks, which houses both Lotte Cinema and Lotte Entertainment. [6]
Lotte Cinema operates 142 theaters in Korea, as well as 40 theaters in Vietnam. [7] In 2014, Lotte Cinema World Tower opened to the public with 21 screens and 4,615 seats. [8]
Lotte Entertainment is the production, distribution and international sales division of Lotte Cultureworks. [9] Lotte Entertainment is a sub-distributor of American film studio Paramount Pictures in Korea.
In 2018, Lotte Cultureworks overtook CJ Entertainment to become the country's leading distributor, following the box-office success of fantasy franchise Along With the Gods. [10]
The current CEO of Lotte Cultureworks is Byung-Hwan Choi, the former CEO of CJ CGV. [11]
Partnership Deals
In May 2019, Lotte Cultureworks signed a joint business agreement with INNOCEAN, a marketing subsidiary of Hyundai Motor Group, to partner in business, global expansion, marketing and advertising. [12]
In February 2023, Lotte Cultureworks signed a business agreement with Disney Theatrical Productions, a performance production subsidiary of The Walt Disney Company. The first musical performance in Korea will be "Aladdin" in 2024. [13]
International Expansions
Lotte Cinema Vietnam
In 2008, Lotte Cinema started operating a global chain in Vietnam. By 2016, Lotte comprised 30% of the Vietnam film market and was the second largest chain. [14]
Lotte Entertainment Vietnam
Lotte Entertainment Vietnam was established in 2017 with the goal of producing local content. [15]
In 2019, Lotte distributed the film "Furie" ( Hai Phượng) which was recorded as the very first Vietnamese film to surpass the revenue milestone of VND 200 billion.
In 2020, Lotte distributed the film "Blood Moon Party" ( Tiệc trăng máu) which was recorded as the first Vietnamese movie to gross VND 155 billion in just four weeks after its release. [16]
References
- ^ "Lotte Cultureworks". Lotte Corp. 7 May 2023. Retrieved 7 May 2023.
- ^ Chung, Sung-Jun (June 19, 2022). ""Top Gun: Maverick" Korea Premiere". Getty Images.
- ^ Shackleton, Liz (April 3, 2023). "Lotte Cultureworks to Produce Korean Adaptation of Yes Studios' Israeli Series 'On the Spectrum'". Deadline.
- ^ "About Lotte". Lotte Corp. 7 May 2023. Retrieved 7 May 2023.
- ^ "Company: Lotte Entertainment". Lotte Entertainment. 7 May 2023. Retrieved 7 May 2023.
- ^ Lee, Hyo-won (November 3, 2018). "Head of South Korea's Lotte Group on New Entertainment Division Cultureworks". Hollywood Reporter.
- ^ Shackleton, Liz (April 3, 2023). "Lotte Cultureworks to Produce Korean Adaptation of Yes Studios' Israeli Series 'On the Spectrum'". Deadline.
- ^ "Company: Lotte Cinema". Lotte Entertainment. 7 May 2023. Retrieved 7 May 2023.
- ^ Shackleton, Liz (April 3, 2023). "Lotte Cultureworks to Produce Korean Adaptation of Yes Studios' Israeli Series 'On the Spectrum'". Deadline.
- ^ "Lotte Cultureworks Poised to Become South Korea's Top Film Distributor". Variety. 28 December 2018. Retrieved 28 December 2018.
- ^ Nam, Hee-heon (December 2, 2021). "Choi Byung-hwan, who is in charge of Lotte Cultureworks, plants CJCGV's 'No.1 DNA'". Business Post.
- ^ "INNOCEAN Signs Joint Business Agreement with Lotte Cultureworks". INNOCEAN. 7 May 2023. Retrieved 7 May 2023.
- ^ Lim, Ji-woo (February 22, 2023). "Disney Musicals are Coming to Korea". Yonhap News.
- ^ "Vietnam's Cinema Market Dominated by Foreign Players". Vietnam Times. March 1, 2017.
- ^ "Lotte Entertainment Vietnam". YouTube. 7 May 2023.
- ^ Ky, Tam (November 16, 2020). "'Blood Moon Party' breaks Vietnam box office record". VN Express International.