'Cinema sales expected to fall 70 percent this year'
Seen above is an empty cinema foyer in Seoul, April 22. / YonhapBy Kwak Yeon-sooAmid the COVID-19 pandemic, Korea's film industry is facing billions of won in losses as theater chains are struggling with dwindling audiences and film productions are being pushed back.The film industry had been showing signs of recovering with the subsiding of the virus and eased social distancing rules starting the fourth week of April. However, a jump in the number of new virus cases that spread through visitors to a number of nightclubs during a six-day holiday from April 30 to May 5 has sparked fear of a second wave of COVID-19 cases.Major releases of local films, including “The Fortress” and “Call,” have been postponed to the second half of this year, and for now, movie theaters are heavily relying on smaller films and re-releases. In its survey of 82 film projects that have suffered losses from the coronavirus outbreak, the Korean Film Council (KOFIC) said their total amount of loss (January-April) was estimated to be 21.4 billion won ($17.4 million). Of them, 51 percent o
