Exhibitor Cinemark Intl. entered into a joint venture Friday with Core Pacific Development Group, a Taiwanese business group and mall developer, to construct and operate an unspecified number of multiplex cinemas throughout Taiwan.
VP Ken Higgins said Cinemark Intl., a subsid of privately held Cinemark USA, and Taipei-based Core Pacific “will explore opportunities together, then build cinemas to take advantage of those opportunities.”
The venture’s first theater is slated to open in 1999 and to be followed by others around Taiwan, including some in Taipei’s “Core Pacific City,” a project-in-progress that’s being billed as “the most significant entertainment and shopping center in the Far East.”
Cinemark, based in Dallas, operates more than 2,100 screens in the U.S., Canada, Mexico and South America. In joining forces with Core Pacific Development, one of Taiwan’s premier conglomerates, it extends its reach to the 21 million People’s Republic of China citizens who inhabit the island off China’s southeast coast.