Lotte Cinema to Raise Movie Ticket Prices by 1,000 Won Starting Next Month... "Operating Losses Reach 300 Billion Won"

[Asia Economy Reporter Seo Mideum] Lotte Cinema will raise movie ticket prices starting from the 1st of next month. For adult 2D general movies, weekday tickets will increase to 14,000 KRW and weekend tickets to 15,000 KRW, each rising by 1,000 KRW from the previous prices. However, soldiers, police officers, firefighters, persons with disabilities, and national merit recipients are exempt from this increase.

Lotte Cinema stated that due to the prolonged COVID-19 pandemic, cumulative operating losses reached 300 billion KRW by April, making the price hike unavoidable.

A Lotte Cinema representative said, “We have made painful self-help efforts to reduce fixed costs, including theater closures, voluntary retirement of staff, and negotiations to reduce rental fees,” but added, “With continuous increases in fixed costs such as minimum wage hikes, logistics expenses, raw materials, unprecedented inflationary pressures, and intensified competition from OTT platforms, this measure was inevitable.”

They continued, “We deeply regret the increased burden on customers,” and said, “We will do our utmost to provide differentiated viewing environments, excellent content, and high-quality services.”

This content was produced with the assistance of AI translation services.