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Universal Studios Announces Universal Studios Korea

Discussion in 'Other Universal Parks & Resorts' started by DisneyFanKevin, Jan 18, 2010.

  1. DisneyFanKevin

    DisneyFanKevin Veteran Member

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    Source: http://www.google.com/hostednews/afp/article/ALeqM5j-1nW9lq_LC_3xeJgctjG8ue8OQQ

    Universal Studios to build major theme park in S.Korea
    (AFP) – 1 hour ago

    SEOUL — US film giant Universal Studios Tuesday signed a deal with South Korean partners to build its largest theme park in Asia at a cost of around three trillion won (2.67 billion dollars).

    Universal Parks and Resorts and 14 South Korean partners, including Lotte Group and a subsidiary of steel giant POSCO, signed the framework agreement to develop the park at Hwaseong, 40 kilometres (25 miles) southwest of Seoul, by 2014.

    The initial deal was announced in late 2007 but faced problems raising capital until retail and hotels group Lotte was persuaded to join the project.
    Lotte Asset Development will have a 26.7 percent stake, while POSCO's construction subsidiary POSCO E and C will be the second largest shareholder with 24.4 percent.

    Work is due to start early next year on the park, which will include a water park, theme hotel, condos, a golf course and other facilities.
    Kim Moon-Soo, governor of Gyeonggi province, said the resort will create more than 40,000 new jobs. Culture minister Yu In-Chon called it "a major opportunity to develop the national tourism industry".

    Universal Parks and Resorts chairman and CEO Thomas Williams said at the signing ceremony that the project will play "a leading role in the growth and development of the Korean tourism industry".
    He said director Steven Spielberg, a consultant to Universal Parks and Resorts, is expected to take part in the South Korean project.
    Universal Studios also operates theme parks in Hollywood, Orlando in Florida and Japan, and a park on Singapore's Sentosa Island is nearing completion.
     
  2. Jmaff

    Jmaff Veteran Member

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    Universal Studios is actually becoming "universal" over the next few years.
     
  3. grizzlybarely

    grizzlybarely Veteran Member

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    I wonder if this means that Universal Dubailand is canceled.

    Either way, yet another reason to make a trip to South Korea. Lotte World looks incredible.
     
  4. The_Bled

    The_Bled Veteran Member

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    That sounds like a quite large park. Hopefully its not scraped!
     
  5. Tbad556

    Tbad556 Veteran Member

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    Sounds like it will be a great park. Hopefully I can make it over there one day and try all of the parks.
     
  6. ralphoutloud

    ralphoutloud Veteran Member

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    Didn't they announce this almost 2 years ago?

    Or is it just official now?
     
  7. DisneyFanKevin

    DisneyFanKevin Veteran Member

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    It's official. There were financial problems when the original deal was announced in 2007.
     
  8. ralphoutloud

    ralphoutloud Veteran Member

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    Ahhh, gotcha. Thanks for the clear-up.
     
  9. EPCOTcenter

    EPCOTcenter Member

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    I don't think they will ever build a theme park there since the financial crisis affected a lot Dubai (They had to cancel many of the gorgeous projects they had in mind, like the World of Discovery..... Dubai is now only a dream, even thought there is still the world's only 7 stars hotel..
     
  10. Mark_Gers10

    Mark_Gers10 Rookie

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    imo Universal really need to get a park in europe they could make a killing over there
     
  11. Jmaff

    Jmaff Veteran Member

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    ^I'm pretty sure there will be one in Paris or something in a decade...don't worry. This is only the beginning of a big future.
     
  12. grizzlybarely

    grizzlybarely Veteran Member

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    Not to get the rumor to spread, but I read somewhere about that same possibility was on the drawing board (Paris).

    Universal *had* a park in Europe, sort of. They once held most of the shares to Port Aventura in Spain.
     
  13. EPCOTcenter

    EPCOTcenter Member

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    Yes, I went to Port Aventura when Uni was the header of it, and they did some good changes to it (like adding a water-park and extending the park hours), but I never considered Port Aventura as a Universal Studios park....
     
  14. rewster

    rewster Veteran Member

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    Has anyone here on the boards visited any of the international Universals?
     
  15. Mark_Gers10

    Mark_Gers10 Rookie

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    there isny any :S the first international one is opening this year universal studios singapore and on that do we have a thread for that park ?
     
  16. Tbad556

    Tbad556 Veteran Member

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    Last edited: Jan 21, 2010
  17. Mark_Gers10

    Mark_Gers10 Rookie

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    awk :| how could i forget about it :(
     
  18. StarTrekGeek

    StarTrekGeek Veteran Member

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    From Screamscape:

     
  19. MechaTeddy417

    MechaTeddy417 Member

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    Over there.
    Actually, there were plans at one point...

    [video=youtube;i1IfA_R8Wug]http://www.youtube.com/watch?v=i1IfA_R8Wug[/video]

    [video=youtube;gLco-x0OEzQ]http://www.youtube.com/watch?v=gLco-x0OEzQ&feature=related[/video]

    Back when USF was still until construction in 1990, Universal planned to build a "Universal City" in Essex, England. Which would of had not only a Universal Studios park, but also film production studios, shops, restaurants, and hotels. It would of started construction in 1991 and open sometime in 1994, but for some reason, it never happened.
     
    Last edited: Dec 7, 2010
  20. BJCool

    BJCool Veteran Member

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    From Screamscape

     

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