Universal executive says park possible by 2012

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Universal executive says park possible by 2012

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Thomas L. Williams, chairman and CEO of Universal Parks & Resorts, speaks at a press conference in southern Seoul yesterday. [YONHAP]

A Universal Studios theme park probably will be built in Korea by 2012 and it will help boost Korea's tourism industry, Thomas L. Williams, chairman and chief executive of Universal Parks & Resorts, said in Seoul yesterday.
Williams came to Korea to sign an agreement with USKOR & Associates to give the local company exclusive rights to develop the Hollywood film theme park in Korea.
In a press release, the companies said a facility in Korea could be larger than Universal Studios parks in California and in Osaka. But other details were vague, including the cost of the project. The location of the theme park has not been decided, Williams and other officials said.
“We are looking at a number of locations and are in the process of evaluating our options,” said Frank P. Stanek, president of USKOR, who is a former Walt Disney Co. executive.
He said a location for the park could be decided by the end of this year.
Asked about difficulties in purchasing land in Korea, he said, “We are quite aware of high land costs in Korea. We faced such a situation in Japan and we will find solutions as we did in Japan.”
Williams added, “We want to have a transparent process for the public in Korea, so that they can understand that we are committed to Korea and we need support from Koreans.”
And USKOR said it has entered into a memorandum of understanding with Korea’s Posco Engineering & Construction Co. to join a consortium that will invest in the park.
“Korea’s economic development, the concentration of half its almost 50 million population in the Seoul area, and Korean’s familiarity with American cinema are positive factors,” Williams said.
“In addition, our theme park will make one more reason for people in neighboring countries to visit Korea.”
Williams said Universal has no plans for a theme park in China for now, suggesting that the theme park in Korea is intended to attract tourists from nearby China.


By Moon So-young Staff Writer [symoon@joongang.co.kr]
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