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Shinsegae and Paramount to build major theme park in Hwaseong by 2029

Published: 10 Oct. 2024, 17:55

WOO JI-WON
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From left: Shinsegae Property CEO Lim Young-rok, Gyeonggi Governor Kim Dong-yeon, Marie Marks, head of Paramount's entertainment division and Jeong Myeong-geun, head of Hwaseong city, during the park’s Global IP Company Attraction Ceremony held at the Hwaseong City Office on Thursday [SHINSEGAE PROPERTY]

Shinsegae will partner with U.S. media giant Paramount Global to build a large-scale theme park in Korea.

Named the Hwaseong International Theme Park, the 4.18 million-square-meter (45 million square feet) park will be located in Hwaseong, Gyeonggi, and is set to open in 2029, as announced during the Global IP Company Attraction Ceremony held at Hwaseong City Hall on Thursday.

Representatives from Shinsegae Property, Paramount Global, the Gyeonggi provincial government and the Hwaseong city government attended the event.

The theme park is part of Shinsegae’s broader "Star Bay City" development project in Hwaseong’s Songsan Green City. This project will also include a golf course, accommodations, retail centers and residential apartments.

Paramount Global, which owns CBS, MTV and Paramount Pictures, will be involved in the planning stages of the theme park. The company will use its intellectual property to develop rides, shows, merchandise and restaurants. This marks Paramount's first venture into building a theme park.

Shinsegae plans to obtain construction approval from the Gyeonggi provincial government by the end of this year.

“Together with Shinsegae, we will create a world-class theme park,” said Marie Marks, head of Paramount’s entertainment division, who attended the ceremony.

BY WOO JI-WON [[email protected]]