GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON=Yonhap News) Construction of the theme park Legoland Korea, which will be situated in Chuncheon city of Gangwon Province, has been put on a fast track as related agreements are signed between project developers.

Developers of Legoland Korea LL Development Co., Ltd. (LLD) and Legoland Korea Ltd. signed a Project Manager Agreement (PMA), an agreement for establishment of Lego Hotel and a MOU for Legoland parking lot on Aug 15, 2016 at Gangwon's provincial government building in the presence of officials from Gangwon Province and Merlin Entertainment.

The PMA was signed to ensure establishment of a world-class theme park through quality control and construction process control prior to construction work.

In accordance with the MOU for Lego Hotel, Merlin Entertainment will additionally invest KRW 55 billion to build a hotel with 260 rooms.

Two parties also agreed to mutually cooperate to offer convenient parking services to park and hotel visitors.

LLD plans to commence construction work in August or September.

Legoland Korea is planned to be built with a theme park, hotel, water park, and shopping mall on a site of 1,068,000㎡ in the island of Jung-do of Chuncheon City with investment of KRW 501.1 billion.

U.K.'s Merlin Entertainment contributed KRW 110.0 billion.

Legoland is set to open in Chuncheon around the spring of 2018, for the third time in Asia following Malaysia and Japan.

conanys@yna.co.kr

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