20th Century Fox to build theme park in southern Korea

By Park Sae-jin Posted : July 16, 2014, 17:14 Updated : July 16, 2014, 17:18

 

Twentieth Century Fox will build a world-class theme park in Jinhae-gu, a district in the southern city of Changwon.

Gov. Hong Joon-pyo of South Gyeongsang Province, Jeffrey Godsick, president of Twentieth Century Fox Consumer Products, and Tim Fisher, CEO of Village Roadshow Theme Parks, signed memorandum of understanding (MOU) agreements to build “Twentieth Century Fox World Korea,” South Korea's first international theme park and resort destination, in Jinhae-gu, Twentieth Century Fox Consumer Products said in a press release.

The signing took place at Korea Press Center in central Seoul on Wednesday.

The theme park is part of an entertainment complex to be built on 2,838,000 square meters of land in the Busan-Jinhae Free Economic Zone near Gimhae International Airport at a total cost of US$3.5 billion. Completion is due for 2018. 

The complex will have resort, hotel, casino and sports facilities, and a shopping mall.

"Korea provides a unique opportunity for an international theme park destination that will be incredibly attractive to both a thriving domestic consumer as well as a quickly growing tourist market from China, Japan and across Asia," Godsick said.

Gov. Hong said: “Once the theme park is completed, we expect more than 10 million foreign and local tourists will visit (a year) and the local economy will be boosted by creating 30,000 jobs, which is equivalent to attracting 100 manufacturing businesses."
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