Despite the release of hit movies such as 'The King's Man' and 'Odyssey' this year, movie theaters like Megabox Sinchon·Dongdaemun, CGV Pangyo, and Lotte Cinema Hapjeong are closing their doors. Although audience numbers have increased since the COVID-19 pandemic, they are still lower than before the pandemic. Due to rising labor costs and rent, movie theaters are restructuring by reducing the number of theaters to secure financial soundness. The decrease in floating population in the Sinchon and Dongdaemun areas and the 'bleeding competition' in the Hongdae area are the main reasons for the closures. On the other hand, new movie theaters are opening in emerging commercial districts such as Incheon Geomdan New Town and Gangdong-gu, Seoul. Movie theaters are improving viewing environments by introducing recliner seats and expanding special theaters, while also restructuring their business direction to adapt to changing trends.
