Korea’s largest theatre chain has chosen Burbank-based 3D technology company MasterImage 3D, LLC to converted 58 additional screens to 3D.
MasterImage 3D announced today that CJ CGV is converting all the rest of its 160 3D theaters to its digital 3D cinema systems and that MasterImage 3D has also installed four systems in Korea’s Lotte Cinema in Suncheon.
These installations, combined with existing systems at Primus Cinema, Ya Woo Ri Cinemas and more theatres across Korea, bring MasterImage’s total to 175 of the country’s estimated 250 digital 3D screens, more than 70% of Korea’s total 3D exhibition market share.
CGV Manager Sung woo Kang said, “MasterImage 3D’s system offers an outstanding value compared to other products on the market, and it is simple to install.”
CJ CGV recently opened a 3D screen in L.A. for advancing into the U.S. market.
MasterImage 3D, which also recently entered the New Zealand exhibition market with the sale of its first digital 3D cinema system to the nation’s largest multiplex franchise, Palmerston North-based Downtown Cinemas, says it has nearly doubled its worldwide installation in the past eighteen months and has installed more than 1,800 systems in 40 countries worldwide — approximately 400 in the US, 770 in Europe and 700 in Asia and the rest of the world.
“Exhibitors are recognizing that our ownership-based model and passive-glasses approach offers them a different, and often more attractive business proposition than competitive systems,” said Younghoon Lee, founder, chairman and CEO of MasterImage 3D. “From our US headquarters and offices in Asia and Europe we are aggressively converting theatre markets all over the world.”
CJ CGV was established as a joint venture of CJ Group of Korea, Golden Harvest of Hong Kong and Village Roadshow of Australia, and is now independently managed by CJ Group.
– By Scott Hettrick