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IMAX to Enter Vietnam in CJ-CGV Deal

IMAX’s giant screen cinemas will enter Vietnam for the first time, following a two theater deal between IMAX and CJ-CGV, the South Korean company that is Vietnam’s largest exhibitor.

The first screen is set to open in a new construction project in Ho Chi Minh City (formerly Saigon). The other has yet to be determined.

CJ-CGV is IMAX’s second largest international partner, after China’s Wanda Cinema Line. And has 97 theatres open or contracted to open, including two theatres in Vietnam, 20 theatres in South Korea and 75 theatres in China.

“With global expansion as a top priority, we look forward to continuing this successful relationship and integrating IMAX as a key element to our growth efforts,” said Dong-Won Kwak, CEO, CGV Vietnam in a statement.

CGV currently operates 952 screens over 125 sites in Korea, giving it a 50% market share. The company opened its first overseas branch in Shanghai, China in late 2006, and opened its first North American branch in Los Angeles in June 2010.

It acquired Megastar, Vietnam’s largest multiplex cinema chain in July 2011.

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