Korea’s Lotte and Japan’s Toei sign a three-way pact with Lotte Entertainment Vietnam covering IP adaptation, investment and distribution

Lotte Cultureworks, the film affiliate of South Korea’s Lotte Group, is partnering with Japanese studio Toei and its own local subsidiary, Lotte Entertainment Vietnam, to make Vietnamese-language films. The three companies signed a memorandum of understanding (MOU) on Oct. 13 to jointly plan, develop and produce Vietnamese films. Under the agreement, they will explore licensing and adapting each company’s intellectual property (IP) into Vietnamese-language features. They will also pursue investment and distribution partnerships in Vietnam and in international markets. Japan’s Nikkei reported on the deal on Oct. 21, presenting it as Toei’s entry into the Vietnamese market.

Lotte Cultureworks entered Vietnam in 2008 and has invested in, produced and distributed local films there ever since. It also runs more than 40 theaters in the country through its Lotte Cinema chain. Lotte Entertainment Vietnam has become one of the country’s leading investor-distributors, with local hits including Blood Moon Party (2020), Furie (2019), Ma Da (2024) and The Last Wife (2023). Its upcoming slate includes Sister Sister 3, The Last Island and The Last Bullet. Two more projects are in development: Saigon Oppa (working title), directed by Park Gyu-tae of 6/45 (2022), and Thanh Giong, an animated feature inspired by a traditional Vietnamese folktale.

Toei is one of Japan’s three major studios, alongside Toho and Shochiku. Since its founding in 1951, it has produced more than 4,000 theatrical features and kept long-running franchises such as Kamen Rider and Super Sentai going. According to Nikkei, a Chinese remake of Toei’s 100 Yen Love (2014) grossed more than 74 billion yen (about $490 million) worldwide.

Lotte Cultureworks CEO Kim Jong-ryul said the company was pleased to work with Toei on projects it is developing with local Vietnamese creators. He added that he hoped the agreement would be the start of trilateral cooperation among Korea, Japan and Vietnam, and that the partnership would extend into other business areas. Toei CEO Fumio Yoshimura said it was meaningful to collaborate on the strength of the close relationships Lotte Cultureworks and Lotte Entertainment Vietnam have built in the local market.

The agreement departs from the earlier model of exporting Korean films to Vietnam. Instead, the partners will develop Vietnamese-language content for local audiences. Lotte brings 18 years of production experience and a theatrical distribution network in Vietnam. Toei contributes IP and development expertise built over more than seven decades. Nikkei called Lotte’s distribution network the main draw for Toei. It also said the Japanese studio aims to become more competitive overseas by teaming with foreign companies that have strong production and distribution capabilities in local markets.

Vietnam’s theatrical market is growing fast. According to the Vietnamese daily Tuoi Tre, moviegoers in Vietnam spent 5.6 trillion dong (about $213 million) on tickets in 2025, up 24% from 2024. Because the agreement covers IP adaptation, the partnership could lead to local-language remakes of Japanese IP along the lines of 100 Yen Love. The three companies will settle specific titles, investment amounts and release dates in further talks.

Sources

• Yonhap News Agency, “Japan’s Toei Partners With Korea’s Lotte Subsidiaries to Enter Vietnamese Market,” 2026.10.21

• Newsis, “Japan’s Toei to Enter Vietnamese Film Market Through Partnership With Korea’s Lotte Subsidiaries,” 2026.10.21

• Maeil Shinmun, “Lotte Cultureworks and Japan’s Toei Sign MOU to Co-Produce Vietnamese Films,” 2026.10.21 

• Branc, “東映、LOTTE・LOTTE VIETNAMとベトナム映画の共同製作パートナーシップを締結,” 2026.10.15