Friday, June 21, 2013

"South Korean Film Company to Build Cinemas in Yangon"

The Eleven
June 19th, 2013
"A South Korean film company, Noble Assets, plans to cooperate with local entrepreneurs to build more cineplex theaters in Yangon within this year, according to an official from Noble Assets.
Young Nae Yoo, a director with Noble Assets told The Daily Eleven that his company is interested in investing in the Myanmar film industry and has already made surveys of existing cineplex venues in Yangon.
"The difference between South Korea and Myanmar is that a theater in South Korea has at least 10 cineplexes so the audience can choose the films they want to watch. There are only about three theaters here so the quantity is very low," said Young Nae Yoo, director of new projects with Noble Assets.
According to him, the theaters will include at least 10 cineplexes to screen local and foreign films including Korean films.
"We will include at least 10 cineplexes per theater when we build them," he said.
According to last year's statistics from Myanmar Motion Picture Organisation, Myanmar had a total of 65 cinemas but some of them have now been torn down and rebuilt as shopping malls and condominiums with mini theaters.
Noble Assets Company operates cinemas in South Korea and has invested in eight Korean films and distributed two Korean dramas.
"If individual income rises in Myanmar, they would be able to spend more in the entertainment sector. That's why we are now trying to invest in the film industry," Yoo added."

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