[THE INVESTOR] South Korea’s CJ Group vowed on Aug.1 to boost global sales of its two entertainment units by capitalizing on the growing popularity of the Korean Wave.

Entertainment giant CJ E&M and South Korea’s largest cinema chain, CJ CGV, saw their combined global sales reach 424.9 billion won (US$383 million) last year, accounting for 16 percent of their total sales worth 2.68 trillion won.

The two entertainment units are seeking to boost the portion of global sales to 54 percent of their total sales by 2020, CJ Group said.

CJ CGV is planning to raise its screens in 12 countries to about 10,000 by 2020, from the current 2,632 screens at 339 theaters around the world. CJ CGV ranked fifth among global multi-screen theater chains by number of screens owned.

(theinvestor@heraldcorp.com)