CJ CGV shares surged in early trading on the 11th. It appears to be due to news that use of the movie sector increased thanks to the government-distributed culture consumption coupons.
As of 9:39 a.m. that day, CJ CGV stock was trading at 5,150 won on the Korea Composite Stock Price Index (KOSPI), up 8.42% (400 won) from the previous session.
It appears to be due to news that the culture consumption coupons distributed by the government to boost domestic culture consumption were heavily used in the film sector.
According to an analysis of customer usage patterns by sector after the government paid out the culture consumption coupons, announced that day by Shinhan Card Big Data Research Institute, for the movie coupons, the number of uses during the first week (Jul. 25–31) of coupon use at the four movie booking platforms—CGV, Lotte Cinema, Megabox, and Cine Q—increased 85% from the previous week, while the amount spent rose 42%.
The culture consumption coupons are discount coupons that the government distributed in Jul.–Aug. to boost domestic culture consumption in areas such as movies, exhibitions, performances, and accommodations.