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Local Name:
유니버셜 스튜디오
Budget:
4.2B
Announced:
22 May 2007
Construction Start:
Opening:
on hold
Area:
  1. CarlySX is offline themeparX Top Investigator
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    Dec 2015
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    Shinsegae Property Consortium has been picked as a preferred bidder to operate a theme park complex on 3.15 square kilometers of land in Hwaseong, Gyeonggi Province, the company said Thursday.
    The construction for Hwaseong International Theme Park has been stalled twice since 2007. In 2016, the landowner K-Water failed to sign a contract with a consortium to build a Korean version of Universal Studios due to lack of funds.


    The latest consortium consists of Shinsegae Property, which operates Starfield, and Shinsegae Construction. It will put 4.57 trillion won ($4 billion) to construct a tourism complex which includes a theme park, leisure and commercial facilities including a hotel, shopping mall and golf course.

    The company said it plans to break ground in 2021 to open theme park facilities in 2026 and complete the construction by 2031.

    According to the group, the complex will have an unprecedented concept, themed on K-pop and regional features such as the Shihwa Lake and dinosaur fossil site.
    Source: http://www.koreaherald.com/view.php?ud=20190301000052


  2. World class theme park project will be resumed by Central Government, Gyeonggi provincial government and land owner K-waters. Last ten years Government has been trying World class theme park with Universal Studios Korea twice. This is the third time trying after project has been cancelled since Posco E&C and Lotte World respectively.
    Source: Andy Hyunchul Kim through LinkedIn



  3. Project is open again.

  4. Confirmed, project is closed. Won't happen. Location wasn't right. Infrastructure construction would have been to costly.

  5. CarlySX is offline themeparX Top Investigator
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    Looks like this project may be fully closed if they don't get the contracts signed in the next couple of weeks.

    The Korean Water Resources Corporation (K-water) and Universal Studios Korea have missed the deadline to sign a contract to develop a Universal Studios theme park in the country.

    Finalised construction plans were due to be submitted by the end of December. The plan to build a Universal Studios amusement park will be cancelled altogether if an agreement is not reached within two weeks reports the Korea JoonAng Daily.
    A K-water representative said, “USK had to come up with a finalized version of a contract for us to sign but they just didn’t do it. We don’t think it is about the details on amount of money for the project but think it is due to the internal issues within USK. We will wait two more weeks for them to submit the contract.
    Source: http://mengnews.joins.com/view.aspx?aId=3028258

  6. Doesn't look good.

    Korean President Park Geun-hye’s ambitious election pledge to reinitiate the project to establish a Universal Studios theme park in Hwaseong, Gyeonggi Province, is again facing dissolution amid the ongoing political scandal engulfing her presidency.

    According to the Korea Water Resources Corporation (K-Water) and Universal Studios Korea, which are overseeing the project, the negotiation process has ground to a halt with recent uncertainties surrounding the government and related businesses.

    The 5-trillion-won ($4.23 billion) project, which was said to include a Universal Studios theme park, a water park, and a K-wave theme park, already missed a business agreement deadline initially set for August, which was extended to December of this year.
    Source:
    http://koreabizwire.com/korean-universal-studios-project-falters-amid-political-scandal/70546

  7. melicia is offline Park Investigator
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    Oct 2016
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    Wasn't this cancelled?

  8. Michael is online now themeparX Top Investigator
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    Universal Studios has still yet to be sufficiently funded, causing more delays in getting the theme park off the ground

    The Korean Water Resources Corporation (K-Water) failed on Tuesday to sign a contract with Universal Studios Korea (USK) to build a Universal Studios amusement park in Hwaseong, Gyeonggi. The first deadline for concluding a contract was Aug. 31.
    Source: http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3023399

  9. Michael is online now themeparX Top Investigator
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    Universal Studios Korea is having trouble with the funding of the project:

    South Korea is facing rough sailing in its ambitious plan to build a Universal Studios theme park south of Seoul due to a row over how to bankroll the big-budget project, sources said Tuesday.
    Source: http://www.koreatimes.co.kr/www/news/nation/2016/08/116_212511.html

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