(SEOUL January 19, 2010) A consortium of reputable South Korean conglomerates led by Lotte Group signed a Framework Agreement in Seoul today announcing the multi-billion dollar Universal Studios Korea Theme Park and Resort project at Gyeonggi Province of South Korea. Universal Studios Korea Resort (USKR) will include a state-of-the-art Universal Studios theme park, Universal CityWalk, a retail, dining and entertainment complex, a championship 18-hole golf course, themed hotels, a water park, premium retail outlet and hypermarket, as well as condos.

“Korea is a great business opportunity for Universal Parks & Resorts. We are excited to be working with an esteemed group of Korean corporations under the leadership of Lotte, and we are thankful for the strong support of the Korean government,” said Tom Williams, Chairman and CEO, Universal Parks & Resorts.

In December 2009, the Ministry of Land, Transport and Maritime Affairs of South Korea announced the Metropolitan Transportation Improvement Plan which confirmed various highway and railway extension plans were underway to provide the necessary transportation infrastructure for USKR.

“Universal Studios Korea shows our continuous commitment to growing our business in Asia,” said Williams.”

Highlights not before announced include:

  • New project business partner with extensive theme park experience
  • Construction and opening timetable schedules
  • Employment data and park site size
  • Approval of Korean Government Metropolitan Transportation Improvement Plan to build highway/transportation infrastructure to support the major theme park resort.