Universal Studios Announces Universal Studios Korea

[DisneyFanKevin]

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.

 

[Jmaff]

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

 

[grizzlybarely]

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.

 

[The_Bled]

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

 

[Tbad556]

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

 

[ralphoutloud]

Didn't they announce this almost 2 years ago?

Or is it just official now?

 

[DisneyFanKevin]

Didn't they announce this almost 2 years ago?

Or is it just official now?

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

 

[ralphoutloud]

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

Ahhh, gotcha. Thanks for the clear-up.

 

[EPCOTcenter]

I wonder if this means that Universal Dubailand is canceled.

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..

 

[Mark_Gers10]

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

 

[Jmaff]

^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.

 

[grizzlybarely]

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.

 

[EPCOTcenter]

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.

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....

 

[rewster]

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

 

[Mark_Gers10]

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 ?

 

[Tbad556]

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 ?

Yeah, there's a thread for it here: http://www.orlandounited.com/forums/showthread.php?2655-Universal-Studios-Singapore :thumbs:

Also, there is one open Universal Studios park overseas in Japan.

 

[Mark_Gers10]

awk :| how could i forget about it

 

[StarTrekGeek]

From Screamscape:

Park News - (12/7/10) According to Theme Park Tourist, the proposed Universal Studios Korea project is back on track and hopes to open by 2014. The project is being developed by Universal Parks & Resorts with the Lotte Group of South Korea, and will be located near Seoul in Hwaseong City. If all goes as planned, construction could begin sometime in 2011 on the resort which will include a water park, resort hotels, retail and dining areas, a golf course and more.

 

[MechaTeddy417]

imo Universal really need to get a park in europe they could make a killing 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.

 

[BJCool]

From Screamscape

Park News - (1/30/12) According to Screamscape sources Universal Creative may have been given the green light to move forward and prepare for construction to begin on Universal Studios Korea. According to the rumor mill the new Comcast management calling the shots has been impressed with how Universal Singapore has been received and is hot to get the Korea park project on the firing line ASAP. (I would imagine that if possible, they would like to get it open before Shanghai Disneyland is ready…)
.....Much like Singapore, look for the project to feature a full scale CitiWalk area with retail and restaurants, and in a new twist, it may feature resort hotels that will be built directly into the CitiWalk as well.
.....On a possibly related note, I received an interesting rumor that could connect some of the failed Dubail park’s intended assets to the new Korea park project. As we have seen previously, it seems that some of the intended rides for the various parks once announced for Dubai were actually produced by the manufacturers, and in some cases even delivered to locations in Dubai to await construction. The canceling (or indefinite hold status) of the big Dubai projects led to some quick discount sales opportunities for some of these rides to go to new parks elsewhere.
.....Now for the Universal twist on this angle: another Screamscape source claims to have seen a transfer request from Universal to have B&M coaster pieces transferred from Dubai for a new project. To date, I don’t think anyone has spotted any B&M coaster pieces in Dubai that I know of, but chances are they were kept safely inside giant storage containers somewhere, safely out of view. Doing back over the Universal Dubailand project, the park was to have a clone of Dueling Dragons with a King Kong / Skull Island theme and trains themed as giant bats. If you take a look at the artwork released for the proposed Universal Korea park and you’ll see what looks like the exact same ride proposed for Korea as well. Now, this is all just really long-term rumor milling, and my own way of connecting the dots from several different projects, but it does pose an interesting “What if…” scenario worth keeping in mind if the Korea project does indeed get itself back on track.