Legoland Korea
Views: 172,719 Subscribe

Can anyone help to translate the video?

Report 'Merlin' LEGO Land development project that fell into the bog after the direct investment of the company's main business ceased. With the prospect that it will not be easy to sell the surrounding land and cover the construction costs, the alternative is to find new investors.

Updated google maps from June 2017. More blue liner is down, lots of groundwork done but no building as such.





Source: Google Earth

Between these two reports, it looks to me like Merlin are only investing in the projects around the park rather than the construction of the park itself due to not wanting to get involved in local legalities. So the local procurement of investment has been left to local Gangwon Province and ELel Development to secure the funding needed to build the actual park.

This park is looking less likely each passing day...

In the meantime, officials also reported that they had an unfounded illusion that "Merlin would invest directly." Jong Jae-woong (Chuncheon, along with Democratic Party) said, "From the beginning of the project, the participants who have vested interests have avoided entry of large-scale investment and made a wall."

"From now on, it is necessary to strengthen transparency, to prevent the collapse of the Alpensia and Taebaek Otu Resort, "We need to re-check to make sure it is not a precedent for large-scale projects." Kim, Jin-Jin Chung said,

Source: http://www.kado.net/?mod=news&act=articleView&idxno=868497

According to the Legoland Support Division of Gangwon Province, Merlin Entertainment Group will hold a board of directors meeting on August 3 (UK local day) to invest KRW 165 billion including KRW 110 billion including KRW 55 billion in real estate and related hotels in Legoland theme park in Gangwon Province. 150 billion KRW The company decided not to invest in the direct construction related to the main construction due to difficulty in financing itself.

Source: http://www.wsnews.co.kr/sub_read.html?uid=42301&section=sc40&section2=

Construction delays continue as the use of the land allocated for Legoland is debated because of the ancient relics found during initial excavation





Sources: http://www.chunsa.kr/?p=26449 and kado.net/?mod=news&act=articleView&idxno=859069

Construction contracts have been signed

Source: http://www.gwjournal.com/news/articleView.html?idxno=3097

A Gangwon Province project to build a Legoland theme park on Chuncheon’s Jung Island is facing multiple threats.

Gangwon Province is now finding itself under heavy fire. Having invested in kind in a 9.76 billion won (US$8.8 million) project site, the province is participating in the project with LL Development as its majority shareholder, with a 44% share. Replying at a Q&A session during an ad hoc meeting on Mar. 16, Gangwon Provincial Council deputy chairman Kim Seong-geun voiced fears about the project, saying the “chances of success with the Legoland construction project, which has dragged on for six years now, are just 1%.”

But the project‘s delay has been causing side effects all around. The building of a bridge leading into the Legoland finishes around October of this year, with 85.8 billion won (US$77.1 million) in government and other investment. The project’s completion was timed to meet the earlier promised opening date in late 2017. The result will be a Legoland bridge without the Legoland.

Source: http://english.hani.co.kr/arti/english_edition/e_international/788505.html

Further progress towards opening LEGOLAND Korea, targeting 2019

Source: https://twitter.com/onlinehyde/status/837704918878269440

Lots of development on and around the island:



Source: https://goo.gl/maps/ihdm6ErF6s32

I was skeptical about the date being pushed back but it looks like a recent report from LEGO directly (about their revenue and trading) gives the date as 2018 too.

Legoland thriving
Legoland parks around the world are thriving, according to its 2016 interims. Revenue increased 11.1 percent compared to 2015.

There are currently six Legoland parks around the world, including the original one in Billund, with three more on the way in Dubai (opens 2016), Japan (2017) and South Korea (2018).

Its owner Merlin Entertainment operates over 100 attractions in 23 countries, including Sea Life aquariums, the Alton Towers themepark and the Madame Tussauds museums.

Source: http://cphpost.dk/news/business/optimistic-about-2016.html

Legoland Korea might be delayed until 2018.

Three brand new Legoland parks are on the way – one in Dubai, which opens this year; one in Japan, which is due to open in 2017; and one in South Korea, which will be ready for visitors in 2018.

http://cphpost.dk/news/business/legoland-parks-around-the-world-thriving.html