Lotte Cultureworks, an entertainment unit of South Korea's retail giant Lotte, said Friday it will open a movie streaming service next month.

The service called "Seechu," a combination of the words "see" and "choose," will be available starting July 10. Subscribers can watch various Korean and foreign movies both on the Internet and on mobile devices, according to the company.

A promotional image for "Seechu," a movie streaming service to be launched by Lotte Cultureworks, an entertainment company of the retail giant Lotte (Yonhap)

"Since we operate a multiplex cinema chain and invest in and distribute movies at home and abroad, we can provide a variety of content to our streaming platform and are able to differentiate our prices," said Cha Won-cheon, CEO of the company. "We're also going to present differentiated supplementary services."

Lotte Group took its cinema exhibition, investment and distribution operations out from under its retail subsidiary Lotte Shopping Co. and launched the new affiliate, Lotte Cultureworks, on June 1. The company now runs Lotte Cinema, one of the country's largest multiplex cinema chains, and Lotte Entertainment, a movie investor-distributor. (Yonhap)