In 2003, CVC Asia Pacific Funds successfully completed the buy-out of the South Korean cinema operator, CJ CGV, which runs the largest multiplex cinema chain, CGV. Headquartered in Seoul, CGV pioneered the concept of multiplex cinemas in Korea, opening its first multiplex cinema in April 1998.
Since the opening of its first cinema in Seoul, CGV has expanded quickly and today operates 54 sites, boasting a total of more than 450 screens nationwide. CGV opened its first overseas branch in Shanghai, China, in late 2006 and its first North American branch in Los Angeles, California, in 2008.
The company went public in December 2004 and is currently valued at US$400 million. CGV today has just under 30% of the market share in South Korea.