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20th Century Fox to build theme park in Korea

July 16, 2014

By Kim Eun-jung

SEOUL (Yonhap) — Twentieth Century Fox will build a new theme park in South Korea by 2018 to attract Asian tourists with the company’s film and television brands, its licensing unit said Wednesday.

Twentieth Century Fox Consumer Products and Village Road Show Theme Park, an international theme park operator, signed a memorandum of understanding with the government of South Gyeongsang Province, the country’s southeastern region, to form a joint venture to start the project next year.

The proposed park, worth US$3.5 billion, will be part of a larger entertainment complex project being pushed by the South Gyeongsang Province, which involves resort, hotel, casino and sports facilities, as well as a shopping mall.

“We will closely cooperate with Twentieth Century Fox and Village Road Show to successfully launch the global them park,” Gov. Hong Joon-pyo said at the signing ceremony held in Seoul.

The Korean theme park would be the second to be launched by 20th Century Fox Consumer Products, following one in Malaysia that is set to open in 2016.

The site for the theme park spans 2.85 square kilometers, located near scenic islands and mountains on the southeastern coast. It is 20 minutes away from Gimhae International Airport, which offers international flights connecting major Asian cities in Japan, China and Southeast Asian nations.

“Korea provides a unique opportunity for an international theme park destination that will be incredibly attractive to both thriving domestic consumers as well as a quickly growing tourist market from China, Japan and across Asia,” said Jeffrey Godsick, president of Twentieth Fox Consumer Products. “We will make the world’s best theme park with Fox’s powerful brands such as Titanic and Ice Age through close cooperation with South Gyeongsang Province and Village Roadshow.”