This article was published on May 2, 2025, at 1:08 p.m. on the ChosunBiz RM Report site.
The opera 'Again 2024 Turandot,' performed last December, had an investment of 20 billion won in production costs but did not complete the scheduled number of performances. The opera production company was reported to have recently gone bankrupt.
The Seoul Bankruptcy Court's Rehabilitation Division 11 declared simplified bankruptcy for the '2024 Turandot Cultural Industry Special Company' on the 30th of last month. This company was created to produce and perform the opera 'Again 2024 Turandot.' Simplified bankruptcy can be declared when the company's remaining assets are less than 500 million won in a state of exceeding debt.
This company reportedly cited financial losses due to low ticket sales stemming from the economic downturn, cancellations of performers' visits due to an unstable political situation, and cancellations of sold tickets as reasons for applying for bankruptcy to the court. The company invested a total of 20 billion won in the production of the opera and the ticket price was said to be up to 1 million won.
The opera 'Again 2024 Turandot' was promoted with the purpose of commemorating the 100th anniversary of the death of Italian opera composer Giacomo Puccini. Notable maestros such as Plácido Domingo, José Cura, and Paolo Carignani were to participate as conductors, and soprano Asmik Grigorian, tenor Yusif Eyvazov, and Brian Jade were also attracted attention for their grants.
However, 'Again 2024 Turandot' was scheduled for 10 performances from December 22 to 31 last year but only conducted 9 performances, with the final performance being canceled. There were controversies over inadequate management and operation of the venue, as well as the departure of the director.