Universal Korea park plan unveiled

$3.1 billion theme park will create 58,000 jobs

Universal Studios unveiled details of its planned $3.1 billion theme park in South Korea on Tuesday.

Universal Studios Korea is skedded to open in 2012 in Hwaseong, a coastal city 25 miles southwest of Seoul.

It will be similar in scale to Universal’s largest theme park in Orlando and feature a shopping mall, golf courses, hotels, conference facilities, a spa and numerous rides.

Park will aim to attract 10 million visitors a year.

Organizers estimate the project will create 58,000 jobs.

Local partners include Gyeonggi Province, Posco Engineering and Construction, the state-run Korea Development Bank, Shinhan Bank and Korea Investment & Securities.

An MOU signing ceremony took place in Seoul on Tuesday.

Project was announced in May, but a location had not been confirmed.

Paramount and MGM plan to open parks in Korea in 2009 and 2011, respectively.

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