[THE INVESTOR] Lotte Cultureworks, the retail giant Lotte Group’s cinema affiliate, said on Dec. 4 that it has made inroads into Indonesia, with a goal to open 20 movie theaters by 2020.
As the initial step, the operator of Lotte Cinema recently opened a theater inside Lotte Mart Fatmawati in southern Jakarta.
The new outlet has five screens that can accommodate 759 moviegoers. One of them is fitted with recliner seats as a “prestige” room, while another room will be made for children, the company said.
Including two more theaters to open next year, Lotte Cultureworks plans to establish a network of 20 movie theaters in major Indonesian cities by 2010, the company said.
In addition, Lotte also plans to launch a business in movie production, distribution and fund-raising, according to the firm.
“Indonesia is a country that has a lot of potential for future development; the country with a population five times more than that of Korea has only 1,600 screens nationwide,” said Min Joon-key, head of Lotte Cultureworks’ Indonesian unit.
By Song Seung-hyun and newswires (email@example.com)