Lotte looks to expand biz ops

Co. to take more active approach as investor, distrib

Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors.

“As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But (beginning) next year, we plan to present a much more active approach as a major investor and distributor.”

After launching its distribution arm in 2004, Lotte released nine titles for a 3.9% market share in 2005 and 12 titles for a 4.7% share in the first eight months of 2006. Next year’s plans call for 15 Korean pics and seven foreign titles.

“Until this year we had not imported films directly, but at the Cannes market we acquired New Line’s ‘Golden Compass’ in a 50% partnership with Taewon Entertainment, and we plan to buy more independently in the future,” says Kim.

In terms of local pics, Kim says that “participating as a main investor is the key to success in this business,” and that the company’s strategy is moving towards majority investing. This will also provide more titles for Lotte’s international sales division, launched this year.

Still, hardtops will remain Lotte’s key strength. Honored by ShoWest in March as Intl. Distributor of the Year, it earned revenues of $69.7 million in the first half of 2006, and currently operates 249 screens in 32 venues.

It is shooting for an ambitious 600 screens by the end of 2008.

“Currently we are considering an expansion into other Asian countries, particularly Vietnam and China,” says Kim.

More Film

  • CGITW-7-20-17-116.RAF

    Bo Burnham Wishes 'Eighth Grade' Wasn't Rated R

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • (L to R) Young Tanya (JESSICA

    Box Office: 'Mamma Mia' Shoots Past 'Equalizer 2' in Thursday Night Shows

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • Disney Cycles VR Short Film

    Disney Animation's First VR Film, 'Cycles,' Set to Premiere

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • Apollo 11

    Neon Buys 'Apollo 11' Moon Landing Documentary

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • Locarno: Intramovies Takes Sales on Inquisition

    Locarno: Intramovies Takes World Sales on Inquisition Drama 'Menocchio' (EXCLUSIVE)

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • Cats review

    Jennifer Hudson, Taylor Swift, James Corden, Ian McKellen Cast in Movie Version of 'Cats'

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

  • In this undated photo released by

    Six Thai Cave Rescue Films Now in Development

    Lotte, a massive retail/construction conglomerate that ranks as Korea’s fifth-largest business group, has secured its place as Korea’s No. 2 exhibitor — but has ambitions to expand in other sectors. “As a late entrant to the film industry, Lotte has up until now focused mostly on establishing its foundations,” says CEO Kim Kwang Seop. “But […]

More From Our Brands

Access exclusive content