Shinsegae, Paramount to build $3.39 billion theme park in South Korea

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Shinsegae, Paramount to build $3.39 billion theme park in South Korea - Korea Economic Daily

Quick Summary:

South Korea’s retail giant Shinsegae Group said on Thursday it has partnered with US media group Paramount Global for a 4.57 trillion won ($3.39 billion) international theme park project.Shinsegae Inc.said its affiliate Shinsegae Hwaseong will lead the project that involves creating a 4.2 million square meter complex in Hwaseong, Gyeonggi Province, 45 km south of Seoul.

Shinsegae Hwaseong, a Shinsegae Group subsidiary handling real estate development and theme park management, held a ceremony to announce the project on Thursday, attended by executives from Shinsegae and Paramount Global and government officials from Gyeonggi Province and Hwaseong City.“The theme park will be more than just an amusement park.

She expressed confidence that the partnership with Shinsegae would create a “globally recognized theme park.” Gyeonggi Province Governor Kim Dong-yeon expressed his vision to establish both Everland, owned by Samsung, and Hwaseong International Theme Park as the two cultural centers of the province, pledging full support for the construction of the new park.