ony Pictures is leaving South Korea because of sluggish sales and rampant piracy, The Korea Times is reporting this week. Sony isnít the first studio to abandon the Korean market; according to the Times, Paramount, Universal, Buena Vista and 20th Century Fox have all ceased operations there, meaning there is no longer a major Hollywood studio operating in South Korea.

Korean DVD sales have been in a free fall in recent years. The newspaper quotes estimates for 2008 of some $285 million vs. $673 million in 2002. At the same time, blazing fast broadband is ubiquitous. The countryís average broadband penetration rate by household hit 90.1 percent last year; in Seoul, the rate was 107.8 percent. Koreaís broadband revolution is often touted as a sign of things to come for the rest of the world, but is the same true for the death of its DVD market? Continue reading on Newteevee.com.

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