The proposed park is a venture involving Village Roadshow and the province of South Gyeongsang and will be part of a larger development known as the Undong Entertainment Complex.
South Gyeongsang is the province in south eastern South Korea that contains the major port cities of Busan and Ulsan.
Fox World Korea is the second Fox World park to be initiated by 20th Century Fox Consumer Products.
Construction in Malaysia began in December last year on a park that will feature attractions based on properties including “Ice Age,” “Rio,” “Alien vs Predator,” “Planet of the Apes” and “Night At The Museum.”
A signing ceremony of the agreements will take place in Seoul on Wednesday.