Actor Choi Min-sik is causing controversy with his recent call for lower movie ticket prices. / Yonhap

KAIST professor sharply criticizes Choi’s comments

By KTimes

A prominent economics professor has openly criticized actor Choi Min-sik for his recent comments about the high prices of movie tickets and questioned whether the actor contributes in any significant way to the industry’s revenue.

Choi pointed out in a recent television appearance that expensive tickets are one of the factors contributing to the current crisis in the film industry.

KAIST professor Lee Byung-tae expressed his views on Choi’s remarks on Facebook on Wednesday. “Cinemas are private businesses, not power groups, so calling for a price cut is hardly a principled stance,” Lee said, dismissing Choi’s comments as “the cheapest talk in the world.”

Professor Lee, who was director of the Techno Management Research Institute at KAIST and CEO of Youth Startup Venture Capital, is known for his conservative commentaries, especially in the areas of economics and business.

The “principled stance” Lee was referring to was Choi’s statement during the broadcast of MBC’s “Sohn Suk-hee’s Questions” on August 17, in which the actor criticized rising ticket prices.

Choi said, “Haven’t ticket prices risen sharply? They need to come down. With ticket prices currently at 15,000 won (US$11.30), the question is why should people go to the cinema when they can stay at home and watch several movies on streaming services.”

In his response, Professor Lee appealed to market logic, arguing that if lowering prices would attract more viewers and increase profits, companies would do so on their own without being told to do so.

Members of civic groups hold a press conference outside CGV’s headquarters in Yongsan, Seoul, on June 26, accusing CGV, Lotte Cinema and Megabox of colluding on ticket prices and price gouging. Yonhap

“If consumers could dictate market prices, there would be no businesses, no economy, and therefore no acting profession,” Lee said.

He went further and asked, “During the pandemic, when cinemas were on the verge of bankruptcy, did Choi Min-sik ever donate his earnings to help the cinemas that showed his films?”

Lee attributed the recent rise in ticket prices to unavoidable factors such as inflation. “Loan interest rates have risen, which leads to higher rents. The increase in the minimum wage has even increased the cost of cleaning staff in cinemas. Then there is the cost of film rights,” he explained.

He also pointed out that movie theaters do not make money primarily through ticket sales, but rather through the sale of concessions such as popcorn and drinks, which is more profitable.

In contrast, citizen groups have expressed support for Choi’s cause. In June, organizations such as the People’s Solidarity for Participatory Democracy filed a complaint with the Fair Trade Commission, alleging price-fixing among the three major multiplex cinema chains, including CGV.

They argued that the inflated ticket prices not only burden moviegoers but also threaten the survival of the entire film industry. The average ticket price, which was 12,000 won in 2019 (on weekends), has risen to 15,000 won following the COVID-19 pandemic.

This article from Hankook Ilbo, sister publication of The Korea Times, was translated using generative AI and edited by The Korea Times staff.