|
Shinsegae Group has announced the inking of a US$3.4bn deal that will see a Paramount theme park and wider resort open in South Korea in 2029
Tom Anstey | Planet Attractions | 14 Oct 2024
The Paramount-branded theme park will open in 2029 Credit: Shinsegae
Retail giant Shinsegae Group has announced a partnership with Paramount Global to develop a ₩4.57tn (US$3.4bn, €3.1bn, £2.6bn) Paramount theme park and resort development in South Korea to open in 2029.
Led by Shinsegae affiliate Shinsegae Hwaseong, the 4.2 million sq m development will be among the most significant in Asia with a projected 30 million visitors expected each year.
The proposed park and wider resort, currently sits in Hwaseong, 45km south of the Korean capital of Seoul. Currently dubbed the Hwaseong International Theme Park project, the development will include a 1.19 million sq m theme park known as Star Bay City, as well as a waterpark, shopping complex, premium outlets, a golf course, luxury hotels and residential areas. The theme park alone will cost ₩1.4tn (US$1.04bn, €949.2m, £794.8m).
“The theme park will be more than just an amusement park. It will offer a space where visitors can experience characters and stories from their imaginations in real life, providing a unique blend of fun, inspiration and relaxation for people of all ages,” said Im Young-rok, president of Shinsegae Group.
Paramount will be directly involved with the theme park’s development, including park design and implementation of its host of IPs, such as Star Trek, SpongeBob SquarePants, and Mission Impossible. These properties and more will be showcased through world-class rides, themed entertainment, exclusive merchandise, dining and more.
“We will create a world-renowned theme park in collaboration with Shinsegae,” said Marie Marks, senior vice president of experiences at Paramount.
According to local media reports, the project was originally supposed to involve a partnership with Universal, though Shinsegae ultimately decided to agree a deal with Paramount.
Theme park
|
|
Supplier Showcase 2025: The biggest attractions projects landing worldwide this year
|
