By Jane Han
Staff Reporter
Die-hard movie buffs will soon be able to see "Jaws," "King Kong" and "E.T." in action right here in Korea.
U.S. film giant Universal Studios signed an agreement with a South Korean consortium Tuesday to build Asia's largest theme park in the provincial city of Hwaseong, about 60 kilometers southwest of Seoul.
The $2.67-billion deal joining Universal Parks and Resorts and 14 local partners, including POSCO E&C, Korea Water Resources Corporation and Lotte Group, revives an earlier plan that had been delayed for two years by the global financial crisis.
The envisioned Universal Studios Korea Resort was first announced in May 2007 with a plan to open in 2012.
"Now that we're back on track, we're going to make this resort stand as the focal point of the West Coast economic tourism belt by successfully attracting tourists from China and other nations," Gyeonggi Province Governor Kim Moo-soo said during a signing ceremony in Seoul.
Developers expect to attract 15 million visitors every year to the giant theme park designed to be bigger than Universal Studios' four other theme parks combined. The company currently operates parks in Los Angeles and Orlando in the U.S. and Osaka, Japan, with one slated to open soon in Singapore.
The complex in Hwaseong spanning 4.3 square kilometers will include theme and water parks, a shopping center, hotels and a golf course.
"Our intent is to work closely with local partners and try to establish Korea as a tourism hub for Asia," said Thomas Williams, chairman and CEO of Universal Parks and Resorts.
jhan@koreatimes.co.kr
