According to Yonhap News,

(INCHEON=Yonhap News) The Sudokwon Landfill Site Management Corporation (SL Corp.) announced September 17 that it has signed a memorandum of understanding (MOU) with a foreign investor consortium in Los Angeles, in the United States, to build a large-scale leisure complex on a landfill in a metropolitan area in Korea.

The participants of the consortium include Bizpost Group (CEO John Kim); Vision Maker, a theme park developer; PDI Design, a design and architecture company; and MGM, a global resort company.

SL Corp. explained that the consortium will invest about USD 2.7 billion (KRW 2.7 trillion) in the establishment of the leisure complex, which accounts for half of the total project cost of KRW 5.1 trillion.

The leisure complex will consist of landfill 1, which has already been reclaimed, a theme park zone, complex commercial zone and resort & leisure zone on 5,153,000㎡ of land on the southern sides of the Gyeongin Ara Waterway. The main facilities will include a water park, department store, resort and complex commercial zone.

erika@yna.co.kr

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