The Ministry of Culture, Sports and Tourism will distribute approximately 2.05 million movie discount coupons worth 6,000 won each. This initiative comes as the number of moviegoers and revenue for Korean films has significantly increased in the first half of the year, raising hopes for a recovery in the theater industry ahead of the summer peak season.
The ministry, in collaboration with the Korean Film Council, will begin the second round of coupon distribution at 10 a.m. on July 8. The coupons can be used through the websites and applications of major cinema chains including CGV, Lotte Cinema, Megabox, and CineQ.
Each online member of the cinemas will automatically receive two coupons in their account, which can be applied during the ticket payment process. The discount will end once the allocated quantity for each cinema is exhausted. Any unused coupons remaining in the member's account will also automatically expire.
To stabilize livelihoods and revitalize the film industry, the ministry has secured a supplementary budget of 27.1 billion won and prepared 4.5 million discount coupons. Following the initial distribution of coupons on May 13, this additional supply of approximately 2.05 million coupons aims to further support the industry.
Independent and art-house cinemas, as well as smaller theaters and silver cinemas, have been applying on-site discounts without distinguishing between the first and second rounds since May 13, on a first-come, first-served basis. The status of participating cinemas and the availability of funding can be checked on the Korean Film Council's website.
Since the first round of coupon distribution, theater revenues have seen a noticeable increase. According to the ministry, theater revenue reached 15.9 billion won in the week following the coupon distribution, a 47.9% increase from 10.7 billion won in the week prior.
The theater industry indicators for the first half of the year also showed improvement compared to last year. According to the integrated ticketing system, a total of 217 films were released from January to June this year, a slight decrease from 240 films during the same period last year.
However, the number of viewers for Korean films surged significantly. Over 37.4 million people watched Korean films in the first half of this year, a 74.9% increase from approximately 21.4 million during the same period last year. Revenue from Korean films also rose from 203.7 billion won to 370.2 billion won, marking an 81.7% increase.
While the number of releases has decreased, some blockbuster films have attracted large audiences, driving overall attendance and revenue. The continuation of this recovery trend into the summer vacation and holiday season will be a key factor for the theater industry in the second half of the year.
The theater industry anticipates that the second round of discount coupons will alleviate the financial burden on viewers and expand demand during the peak season. A representative from Lotte Cinema stated, "This second round of support is expected to encourage more audiences to visit theaters without financial concerns. Especially with the summer peak season approaching, if more viewers come to theaters to enjoy a variety of films, it will have a positive impact on both the theater industry and the overall Korean film sector."
A ministry official also noted, "The first round of coupons has been confirmed to have a positive impact on theater attendance. We hope families and friends will enjoy their time at the movies during the upcoming summer vacation and holiday period."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.