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Universal park coming to Korea

Published: 19 Jan. 2010, 18:56

Koreans will no longer have visit other countries to enjoy Universal Studios' Hollywood movie-themed attractions. Soon, they can simply take a train or drive to Hwaseong City in Gyeonggi province to find Universal's largest resort.

The world-famous theme park signed an agreement with a consortium of Korean conglomerates, including Lotte Group, operator of the country's second-largest retailer Lotte Shopping, and POSCO Engineering and Construction, the largest subsidiary of the steel giant Posco, yesterday. Under the agreement, nearly 3 trillion won ($2.67 billion) will be injected into the project. The initial capital investment will be about 400 billion won.

Unlike Universal Studios parks in Hollywood, Orlando in Florida, Japan, and a nearly completed park in Singapore's Sentosa Island, the Korean park will be designed as a multi-resort complex consisting of a theme park, city walk, water park, premium retail outlet, golf course, themed hotels, as well as condominiums.

The resort, to be built on a 1.32 million pyeong (roughly 4.35 million square meters) at Songsan Green City in Hwaseong City, Gyeonggi, will be Asia's largest.