Universal Studios Slated for South Korea in 2020

Universal studios to open in South Korea
Universal Studios Singapore

After sitting on the backburner for the past three years, the South Korean government has announced that a consortium involving Korean and Chinese companies will partner with U.S.-based Universal Parks and Resorts to build a theme park in South Korea.

The park will include a Universal Studios, various accommodations, a golf resort, a shopping center, a K-Pop concert arena and a water park.

Slated to be built on a 4.2 square kilometer plot in the city of Hwaseong in Gyeonggi Province it will be about an hour drive from Seoul and a short trip from Incheon International Airport.

 
 

“The global theme park is expected to help draw Chinese travelers, as Chinese investors joined the project,” K-Water said in a release.

Once completed, South Korea will follow the U.S., Japan, Singapore and China as the fifth country with a Universal Studios theme park.

The state-run Korea Water Resources Corporation (K-Water), which is the governmental agency in charge of the project, said the multinational consortium of Korean and Chinese companies consists of Daewoo Engineering & Construction and Dohwa Engineering of Korea along, China’s largest construction company, the China State Construction Engineering Corporation and the Hong Kong-based China Travel Service.

 
 

“The global theme park is expected to help draw Chinese travelers as Chinese investors joined the project,” K-Water said in a release.

“The realization of an international theme park is now a step closer,” K-Water CEO Choi Gye-woon added at a press conference on Tuesday.

“I hope the central government and private sector’s cooperation will successfully carry out the project, which will likely create jobs while lifting up the regional economy.”

K-Water estimates investment into the park at around $4.25 billion and an opening to the public by 2020.

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