Merlin Entertainments buys Coex Aquarium

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Merlin Entertainments buys Coex Aquarium

Published: 28 Apr. 2022, 17:18 Updated: 28 Apr. 2022, 18:42

The Coex Aquarium in Coex, Gangnam District, southern Seoul. [SEOUL OCEAN AQUARIUM]

Merlin Entertainments is expanding its range of attractions in Korea, acquiring the Coex Aquarium for an undisclosed amount.

Merlin Entertainments, known for the soon-to-be-opened Legoland amusement park in Chuncheon, Gangwon, announced Thursday it bought Seoul Ocean Aquarium.

Starting April 28, it will operate the Coex Aquarium, which used to be run by Seoul Ocean Aquarium at Coex in Gangnam District, southern Seoul.

The company said it wants to own various indoor attractions in major cities worldwide. It acquired Holland’s 5-D theater This is Holland in January and the brand license for U.K.’s Cadbury World in February.

“We are very happy to announce Coex Aquarium and its employees have become part of the family of Merlin Entertainments,” said Kim Young-pil, divisional director of Merlin Entertainments' Midway APAC division. “We hope we can work with the Coex team to help the aquarium develop and grow."

The Coex Aquarium opened in 2000, and has over 180 exhibition tanks in a 15,970 square meter (171,900 square feet) venue.

The aquarium was hit hard by the pandemic. Seoul Ocean Aquarium reported a net loss of 4.1 billion in 2020, down from a net profit of 1.7 billion won the year before. Revenue fell 54 percent on year to 8.6 billion won.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]