A Movie Ticket for 1.4 Million Won? ... Scalpers Run Rampant Ahead of Nolan's New Film 'Odyssey'

[Financial News] Ahead of the release of world-renowned director Christopher Nolan's new film 'Odyssey,' scalpers are flooding the market with resale tickets, especially for IMAX special theater seats, at prices several times higher than face value. Unlike in the performance and sports sectors, there is no clear legal basis to crack down on online ticket scalping in the film industry, prompting calls for urgent institutional measures.
According to the film industry on the 1st, posts offering tickets for IMAX screenings of 'Odyssey' have recently been appearing on major secondhand trading platforms such as Joonggonara, Bungaejangter, and Karrot.
In particular, popular seats at the CGV Yongsan I'Park Mall IMAX theater, one of the most sought-after venues among moviegoers, are being traded for 100,000 won to as much as 115,000 won per ticket. Given that the regular price for 2D IMAX screenings at the theater ranges from 17,000 won to 21,000 won depending on the day and time, the resale price is more than five times the normal rate. Some sellers are listing more than 10 tickets per screening, raising suspicions of organized bulk booking using macro programs, or automated repeat-input software.
The film 'Odyssey' is a blockbuster that follows the return journey of Odysseus, played by Matt Damon, the hero of the Trojan War. It has drawn strong anticipation as the first film in history to be shot entirely with IMAX cameras. Overseas, the scramble for tickets is also intense. According to foreign media reports, 70mm IMAX tickets in the United States have even been resold for $1,000, more than 30 times the original price, or about 1.44 million won. South Korea has no 70mm film theaters, but the film has become a target for scalpers as audiences flock to the CGV Yongsan I'Park Mall IMAX screen, which delivers a 1.43:1 aspect ratio without cropping the image.

The problem of scalped tickets for special theaters has resurfaced every time a major title such as 'Avengers: Infinity War' (2018), 'Avatar: The Way of Water' (2022), or 'Dune: Part Two' (2024) was released. However, legal penalties remain far too limited.
In the performance and sports sectors, amendments to the Public Performance Act and the National Sports Promotion Act, which fully ban ticket scalping and impose fines of up to 50 times the illicit resale amount, have passed and are set to take effect this month.
By contrast, under the current Punishment of Minor Offenses Act, films can only punish offline ticket scalping with a fine of up to 200,000 won or detention. There is no direct legal basis to punish online scalping, where the damage is most severe. Theaters must file complaints on charges of obstruction of business under the Criminal Act, but that approach is widely seen as ineffective.
In the National Assembly, Rep. Kim Jun-hyeok of the Democratic Party of Korea (DPK) and others introduced a revision to the Promotion of the Motion Pictures and Video Products Act in 2024 to ban the illegal resale and brokering of admission tickets. The bill is currently pending before the Culture, Sports and Tourism Committee. The Ministry of Culture, Sports and Tourism has previously said in a review that it agrees on the need to regulate online illegal resale.
The theater industry is first turning to its own countermeasures. A CJ CGV official said, "We are conducting constant monitoring for abnormal bookings and possible illicit transactions, and if violations are confirmed, we restrict account use in accordance with our terms and conditions."
An official from the Korean Film Council also said, "We will examine the impact of scalped tickets on the market when a hotly anticipated film is released, and we will also check the situation within the Korean Film Council."

[email protected] Moon Young-jin Reporter