Korean art house operator withdraws

BaekDu-DaeGan will continue to import, distribute

SEOUL -- BaekDu-DaeGan, a Korean film company that has been jointly running an art house theater Cinecube with Hungkuk Life Insurance, will withdraw from its operations because of financial difficulties.

Starting Sept. 1, Hungkuk will remain as the theater's exclusive operator. The news came unexpectedly for fans of the theater, which offers an eclectic selection of foreign art films largely distributed by BaekDu-DaeGan, one of the first exclusive art house film distributors in Korea and an icon of world cinema known to many local fans.

Cinecube, in downtown Seoul, has 293 seats in two theaters. Since the theater was founded in 2000, Cinecube screened a number of noted foreign films including "Taste of Others," "Buena Vista Social Club" and "Brokeback Mountain."

BaekDu-DaeGan will continue to serve a film distributor and importer after backing off from the theater operation.