CGV, a role model in entertainment industry

15:50 | 21/12/2016 Companies

Vietnam Economic News’ Minh Long interviewed CGV Vietnam Chief Executive Officer Dong Won Kwak.

cgv a role model in entertainment industry

CGV Vietnam Chief Executive Officer Dong Won Kwak (left) receives an investment certificate from the Chairman of the Hanoi People’s Committee

How much capital has CGV invested in the Vietnamese entertainment industry so far, apart from the US$70 million acquisition of Megastar?

We have invested around US$200 million since our first entrance into this market. And CGV has created over 650 employments. This number of employments will increase by around 150 yearly.

How do you find the Vietnamese entertainment industry these days?

Vietnam is currently not in top 20 of potential film markets globally, but it would take less than 10 years from now for the Vietnamese film industry to stand among global top five in terms of total admission and global top 10 in terms of BO. In order to realize that potential, there are three things we need to pay attention to: (i) build global standard cinema infrastructure nationwide; (ii) pay attention to movie genre diversification and human resource development to further boost the local film industry; (iii) all stakeholders should have different understanding on this growth potential and vision of film industry development, and ensure a transparent and healthy competition environment.

CJ CGV’s vision is to become a role model in the entertainment industry. Could you share your plans to implement this vision?

We’re deploying the strategy based on three key policies:

Building nationwide and global standard cinema infrastructure with cutting edge cinematic technologies applied.

Diversification of movie genres by providing global standard film marketing and distribution support for local films through CGV Art House, aiming to provide access to filmmakers in Vietnam. Also, we are going to help Vietnamese films to internationalize by showing them at Korea CGV Art House. In addition, we organized the Vietnam Movie Week to enhance general public attention to high quality Vietnamese films.

Cultivation of quality human resources through CGV University and TOTO Film Making Class and global training programs for CGV employees. In addition, through our efforts in sponsoring major film events such as HANIFF, Vietnam Film Festival or annual film event Autumn Meeting, we’d love to contribute to building and enhancing platforms where talented filmmakers can be identified and gain access to resources that they need to become established filmmakers in this market.

We are also paying attention to providing movie-going experiences to audiences who have limited access to quality cinema environment, through CSV programs such as Smile Moon and Movie for Everyone.

In recent years, the relationship between Vietnam and the Republic of Korea, especially on cultural aspects, has been promoted to a new level. Does CJ CGV have any activities in line with this?

We are going to help globalization of Vietnamese movies by showing Vietnamese movies at Korea CGV Art House. Secondly, CGV is supporting major film events for international interaction of Vietnamese filmmakers as a major sponsor for HANIFF and Autumn Meeting.

Minh Long