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.


Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO
Suncorp Cuts 2026 Premium Growth Forecast as Australia, New Zealand Markets Weaken
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
BHP Workers Approve New Labour Agreement at WA Iron Ore Operations
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul
TetherMax Rebranding Highlights Official Exchange Partnerships as Foundation of Trust
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 



