D-Cinema Korea (“DCK”), Seoul, Korea based company, established in 2008 by two major Korean exhibition chains to help accelerate the transition of Korean theatres to digital cinema, has reached non-exclusive Digital Cinema Deployment Agreements with Twentieth Century Fox (“Fox”), Paramount Pictures International (“Paramount”), Universal Pictures International (“Universal”).
Under these agreements, the above 3 US major studios will supply their movies in digital form to the DCI compliant digital projection systems installed by DCK in Korea. The U.S. film studios will make financial contributions (VPF) towards the hardware cost of digital cinema equipment deployed by DCK. This milestone signals DCK’s commitment to Korean exhibitors as a trusted partner in digital conversion.
DCK’s vision is to provide the Korean motion pictures industry with technical and financial schemes that will help enhance its diversity and dynamism. Through DCK, the Korean motion picture industry is expected to take advantage of the Virtual Print Fee model benefit following U.S. and Europe where more than 50,000 screens are already committed to covert to digital.
Julian Levin, Executive Vice President, Digital Exhibition and Non-Theatrical Sales and Distribution, Twentieth Century Fox commented: “We are thrilled to have reached agreement with DCK. Fox intends to fully support DCK’s deployment of DCI compliant digital projection systems in Korea and will provide its movies, in 2D and 3D, to their digital projection systems under the terms of our agreement with DCK. Most importantly, Korean moviegoers will be the ultimate beneficiaries and will enjoy a significantly enhanced viewing experience through digital exhibition. We look forward to working with our friends at DCK throughout this exciting transition in Korea.
Andrew Cripps, President of Paramount Pictures International said "We are delighted to be entering into this agreement with D-Cinema Korea to supply our films to state of the art digital projection systems in the Korean marketplace, one of the most dynamic markets in which we operate. We congratulate DCK on this major step forward in bringing this enhanced viewing experience to the Korean consumers".
"We’re pleased to be working with D-Cinema Korea in this joint venture to help accelerate Korean exhibitors’ transition to digital cinema,” said David Kosse, President of Universal Pictures International. “By supplying our movies digitally to Korean exhibitors, we hope audiences in the region will have a more diverse choice of movies available to them, and as a result be able to experience the highest quality cinema experience via the best digital technology available.”
S.K. Lee and J.H. Cho, Co-CEO of DCK commented “The conversion of cinemas in Korea to digital technology will enable both exhibitors and distributors to reap substantial benefits of digital cinema: high quality non-degradable prints, new programming opportunities, such as premium digital 3D films, alternative content, and live satellite events, vastly reduced print production and logistics costs, and better protection against piracy.”