Universal To Build $3.1 Billion Park in Korea
Universal Studios and partners plan to build a $3.1-billion theme park south of Seoul in South Korea, the provincial government of Gyeonggi said today (Tuesday). As reported by Bloomberg News, the park, located near Hwaseong, will also include hotels, a golf course and a shopping mall. There was no indication whether, like its U.S. counterparts in California and Florida, it will also include a working film studio. It is due to open in 2012, the announcement said. Universal, a unit of General Electric, is partnering with Korea Development Bank, Shinhan Bank and Korea Investment & Securities Co. in the project. However, it did not indicate the size of each partner's investment in the project or its stake.
Universal Studios and partners plan to build a $3.1-billion theme park south of Seoul in South Korea, the provincial government of Gyeonggi said today (Tuesday). As reported by Bloomberg News, the park, located near Hwaseong, will also include hotels, a golf course and a shopping mall. There was no indication whether, like its U.S. counterparts in California and Florida, it will also include a working film studio. It is due to open in 2012, the announcement said. Universal, a unit of General Electric, is partnering with Korea Development Bank, Shinhan Bank and Korea Investment & Securities Co. in the project. However, it did not indicate the size of each partner's investment in the project or its stake.
