CJ CGV, Korean Cinema Exhibition Giant, Seeking $800 Million Capital Injection
Patrick Frater Asia Bureau Chief C CGV, a company that is one of the world’s top ten cinema exhibitors and is also a major cinema technology developer, is to raise close to $800 million in order to shore up its finances after a devastating COVID era. The company operates the largest cinema chain in its native South Korea and has significant numbers of screens in Vietnam, Indonesia, Turkey and mainland China, with smaller operations in Myanmar and the U.S. It also owns CJ 4DPlex, which developed the technology for films to be augmented with practical effects, including motion-seats, wind, strobe-lights, simulated-snow, and scents. In addition, its ScreenX system provides screenings that use the side walls of an auditorium to create a 270-degree sensory experience.