SEOUL -- Korean distributor MK Pictures and China's the Poly Group will open their first jointly operated multiplex in Zhengzhou, China, on Friday.The 1,114-seat venue, consisting of five screens plus one deluxe VIP screening room, will be called MK Poly Cinema Zhengzhou.

The companies formed the joint venture last April. They plan to open a nine-screen, 2,300-seat theater in Shenzen in May, and MK also plans to buy a stake in a nine-screen, 822-seat venue in Chongqing that is operated by the Poly Group.

With more openings skedded for Beijing and Shanghai, MK Poly plans to have five venues with 45 screens and 9,000 seats by the end of 2008.

Midrange plans for 2008-2013 envision 40 venues, 320 screens and a 10% share of the overall Chinese box office.

Other Korean companies involved in the Chinese exhibition market include CJ-CGV, which opened its first theater in partnership with the Shanghai Film Group in October; and Megabox, which will open its first venue in Beijing this April.

Major exhibitor Lotte Cinema and the Prime Group have also expressed an interest in the Chinese market.

© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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