CJ partners with AEG on new LiveCity arenaCJ LiveCity is partnering with U.S.-based sports and music entertainment presenter AEG to build an arena to host cultural events in Goyang, Gyeonggi.
CJ LiveCity, a subsidiary of CJ Group, announced Monday that it plans to build an arena with AEG that has up to 20,000 seats and aims to become a key cultural landmark where K-pop concerts are held.
CJ LiveCity is the new name for CJ K Valley, the CJ subsidiary behind the construction of a new theme park centered on Hallyu, or the Korean wave. The theme park, where the arena will also be located, will be called CJ LiveCity.
The theme park is intended to be a cultural complex devoted to Korean pop culture. Construction began in 2016, but stalled over the past three years after it failed to receive government approval due to continuously changing business plans. The change of government in 2017 also contributed to the delay. The project started to gain momentum after the company received a license in November.
The company submitted the plan for the arena to the provincial government in April and is waiting for approval. CJ plans to start construction as soon as it gets the green light.
CJ says it plans to use state-of-the-art technology at the arena. It will also house an experiential studio and a waterpark, according to the company.
AEG is the owner of some of the world’s most famous arenas, including Los Angeles Staples Center, London’s O2 Arena and the Shanghai-based Mercedes-Benz Arena. It will help CJ curate concert programs through its music division, AEG Presents.
“AEG is an expert in the arena business,” said a spokesperson for CJ LiveCity.
“The collaboration between CJ and AEG means combining CJ’s cultural business expertise and AEG’s knowhow on arena operations and its role as a performance promoter.”
BY JIN MIN-JI [email@example.com]
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