The number of moviegoers in South Korea is expected to plummet by 70 percent this year from 2019 due to restrictions imposed on in-person movie showings and people refraining from going to theaters.
Data from government-affiliated movie promotion committee Korean Film Council shows a sharp decrease from the 230 million who viewed movies at theaters in 2019 to 60 million so far this year.
Box office revenue is expected to plunge this year by the same percentage as the theatergoer numbers.
The dismal number was attributed to restrictions imposed on the number of theater seats and limits placed on late-night showings.
Many South Koreans also avoided spending extended periods confined in theaters.
A major multiplex operator plans to cut the number of its theaters by 30 percent in the next three years.
South Korea's movie industry was expected to catapult to new heights this year after the Oscar win by the movie "Parasite" in February, but the coronavirus pandemic dealt a serious blow as studios pushed back release dates for movie after movie.
It also caused the suspension of the filming of a new movie featuring Song Kang Ho, who played the father of a poor family in Parasite.


TSMC Exits Arm Holdings with $231 Million Share Sale Amid Strategic Portfolio Shift
Advantest Stock Falls on Weak Outlook Despite Strong AI-Driven Results
Microsoft Azure Growth Forecast Beats Expectations Amid Rising AI Competition
China’s Ultra-Cheap EV Boom: Why Electric Cars Cost Far Less Than in the U.S.
Alphabet Earnings Surge on AI Growth, Cloud Revenue, and Strong Search Performance
Seagate Stock Surges After Strong Q3 Earnings Beat and Bullish Outlook
Google Secures Pentagon AI Deal for Classified Projects
Amazon Stock Dips Despite Record Earnings as AI Infrastructure Spending Surges
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings
WuXi AppTec Stock Surges on Strong Q1 Earnings and CRDMO Demand Growth
Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List
Meta Raises 2026 Capex Outlook Amid AI Spending Surge, Shares Drop After Earnings
DeepSeek Slashes AI Model Pricing to Boost Adoption and Challenge Global Rivals
OpenAI Faces Revenue Pressure and User Growth Challenges Ahead of IPO
Qualcomm Stock Surges Despite Weak Guidance After Q2 2026 Earnings Beat
Micro Systemation Reports Q1 Loss Amid Strategic Investments and Revenue Growth
Samsung Reports Record Profit as AI Boom Drives Memory Chip Demand 



