Universal Studios Korea Resort to debut in 2014

Steven Spielberg will participate in planning the theme park









The Lotte Group signed an agreement to push ahead with the Universal Studios project in Hwaseong, south of Seoul, with Universal Parks & Resorts (UPR) and POSCO E&C on Jan. 19 in Seoul.
On hand at the signing ceremony at the Lotte Hotel in downtown Seoul were Gyeonggi Gov. Kim Moon-soo; Lotte Group Chairman Shin Dong-bin; Universal Parks and Resorts Chairman and CEO Thomas Williams; POSCO E&C President and CEO Chung Dong-hwa; and 15 other business partner representatives.
Under the agreement, the project will be launched in March 2011 and the first phase of the construction of the theme park will be completed by March 2014. The deal calls for the construction of the projected Universal Studios Korea Resort (USKR) on a site of 4.35 million sq. meters within the Songsan Green City Complex in Hwaseong at a cost of 3 trillion won. Such facilities as a water park, ¡°City Works,¡± auxiliary facilities unique for Universal Studios in the United States, a theme hotel, a premium outlet, a supermarket, condominiums and golf courses will be constructed in addition to the theme park.
The participating business partner representatives pledged to make the USKR project a theme park of a world-class size and competitive edge. They stressed the fact that renowned film director Steven Spielberg will participate in the planning of the project to make the planned studio one with differentiated ideas.
Asked about the prospects of the USKR project¡¯s creation of jobs, Gov. Kim said, ¡°The project will have spillover effects of creating 100,000 jobs, including the direct employment of 10,000 people, and the planned USKR will be the largest one, bigger than the combined size of the existing four studios, including those in the United States, Singapore and Japan.¡± ¡°It will have tremendous effects on Hwaseong and its neighboring region, and this district of the West Coast will be reborn into a world-class ¡¯golden coast.¡¯¡±
Vice Minister of Land, Transport and Marine Affairs Kwon Do-yup said negotiations will be held with K-water, the owner of the involved site, over when the land will be lent or sold.
Lotte Asset Development President Kim Chang-kwon said, ¡°We will play a leading role as the biggest investor of the project. The USKR, which will include a resort, a shopping town and golf courses, will have synergetic effects.¡±
Asked about the competitiveness of the projected USKR, the Universal Parks and Resorts chairman was quoted as saying, ¡°Globally-recognized Steven Spielberg has a special interest in this one. He will come up with differentiated ideas, and the USKR will be made a world-class one.¡± He declined to reveal how much his company will invest in the project, however. nw

(clockwise) Dignitaries applaud at a ceremony on Jan. 19 in Seoul after signing an agreement on the construction of Universal Studios Korea Resorts in Hwaseong, south of Seoul,; an artist conception,; and a map of the planned theme park.


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