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Source:When the JoongAng Ilbo emailed Universal asking for clarification, Universal on Jan. 1 replied that it was looking into the feasibility of a project in Korea but had no involvement in the project announced by K-Water last year.
Some industry insiders say Universal is aware that other Korean cities are competing to attract the American movie theme park. It is also planning a Universal Studios in Beijing that is slated to open in 2019. The agreement on building the Beijing theme park became official last September.
“The project hasn’t been scrapped entirely, but the U.S. headquarters strongly protested because of outside factors,” said an official of a consortium selected as a primary bidder by K-Water to handle the project.
It's back alive! Article published December 22, 2015:
Korean Water Resource Management Company Revives Plan to Build Universal Studios Korea in Hwaseong, Slated to Open As Early As 2020The fifth Universal Studios will be constructed in Hwaseong, Gyeonggi and is expected to be open to the public as early as 2020.
State-run water resource management company K-Water announced Tuesday that the new Universal Studios theme park will be built in Songsan Green City, which is located south of the Songdo International Business District and Incheon International Airport, Korea JoongAng Daily reported on the same day.Source:Yonhap News reported a consortium of Chinese investors has been selected as the preferred bidder in the construction of the theme park. The multinational consortium consists of Daewoo Engineering & Construction and Dohwa Engineering of Korea together with China State Construction Engineering Corporation and China Travel Service.
An estimate of $4.24 billion will be invested into the project. Of this amount, the consortium will pitch in the required 30 percent for the first phase.
"I hope the central government and private sector's cooperation will successfully carry out the project, which will likely create jobs while lifting up the regional economy," K-Water CEO Choi Gye Woon said.
The Korean government announced that they are trying to restart the development of Universal Studios Korea. Please use Google Translate from Korean to English:
It seems the Universal Studio Korea project has been cancelled.
Tom Williams, Universal Park and Resorts CEO, visiting Osaka for the opening of The Wizarding World of Harry Potter at Universal Studio Japan, said that the Universal Studio Korea project has been cancelled in an interview with Nihon Keizai Shinbun, Japan's leading economic newspaper, on July 15th, 2014.
He also said that UPR currently has no plan to open a theme park in China.
Nihon Keizai Shinbun article (in Japanese):
On the next day, the Korean media reported it, as well.
Korean media (in Korean):
The interview article on Nihon Keizai Shinbun did not state a reason for this given by Tom Williams, but the Korean report explains the cancelling occured due to unsolved problems over real estate and properties.
The Korean media has reported numerous rumors that Disney would open a park in Korea many times in the past, but the Universal Studio Korea project sounded promising despite the many years of delay.
New Universal Studios Korea map