Paramount to Build World-Class Park In Korea!

http://www.boston.com/news/world/asia/articles/2007/05/10/paramount_to_build_1_bln_korea_theme_park/

Looks like it is Korea

SEOUL (Reuters) - Viacom Inc.'s Paramount Pictures Corp. will build a $1 billion theme park in South Korea, the U.S. entertainment group's first amusement resort outside North America.

The Hollywood film producer, known for hits such as "Titanic" and "Mission Impossible," will build the resort with Daewoo Motor Sales Corp. <004550.KS> in the airport city of Inchon, south of Seoul, aiming to lure a growing number of Asian tourists as well as South Korea's affluent population.

The two companies said in a joint news conference on Thursday they would invest 950 billion won ($1.03 billion) in the project, which will create the fourth amusement park by a U.S. entertainment group in Asia.

Walt Disney Co. has Disneyland parks in Japan and Hong Kong, and Universal Studios, part of General Electric Co. , runs a theme park in Osaka, Japan.

The facility, to be located in Daewoo Sales' 50-hectare plot in Inchon and will open in 2009, will feature rides, movie studios, a 300-room hotel, a water park, a media centre and shopping malls.

Construction will start this year and the whole park will be completed before the 2014 Asian Games to be held in Inchon.

The plan will make Paramount the first and only foreign entertainment firm to operate a theme park in South Korea. Two of the country's biggest conglomerates, Lotte Group and Samsung Group, each have one theme park in Seoul.

Other Hollywood entertainment giants including MGM Studios and Universal Studios are also looking to make forays into South Korea

Wow....they sell all of their mediocre parks and create a giant, Universal type park. It looks awesome! Why couldnt they have done it here? Too much competition?

-Zach

Didn't this come out before the selling of the parks...

Yeah, I'm pretty sure I read about this a while ago.

Wow, that's the first I've heard of it. It's like an IOA-quality KI! Hopefully details about the rides trickle down soon.

If this is true, it makes me dislike Paramount even more. Nothing like buying parks in the US, ruining them, selling them, and then moving on to another country.

The park looks very nice

Don't employ that company which built "SOB" otherwise Paramount will have loads of problems.

Way to leave out the date from the press release...

July 29, 2004

http://www3.paramountparks.com/news/detail.cfm?item_id=264

So this is non-news then.

I knew something wasn't right when the article was using present tense when talking about the Paramount Parks in North America.

Sigh, this looks like it would have been cool, too....

Too bad Cedar Fair can't pick up and build it.

^It took about 2 seconds to google "paramount parks Japan" and find that the very first link was that press release (with the date clearly included)...

Hmm..okay, well I saw it on another site and it was new news to me!

2. Use the "search" function. If you are posting about a news item or something of high importance ask yourself "could this possibly have been posted already?", like "Six Flags Astroworld is closing", chances are, it probably has. So do a search first.

^I saw no other thread like this before, but now I have from 2 years ago.

http://www.themeparkreview.com/forum/viewtopic.php?t=2032&highlight=paramount+seas

Sorry Carnage, I didnt see the date on it, nor on the site. And that thread is two years old with a little information, and 5 posts.

Which is why you check before posting.... No need to get hostile..

I think hostile is too harsh of a word.

http://www.boston.com/news/world/asia/articles/2007/05/10/paramount_to_build_1_bln_korea_theme_park/

I redited first page. Sorry

For all those non-believers...

LARA CROFT SCORES KOREAN THEME PARK

Copyright 2008 www.tombraiderchronicles.com

 

[ May 20th 2008 ]

 

Paramount Pictures has announced a brand new theme park and resort complex will open in South Korea in 2011. The park will include rides and attractions based on its film portfolio including Mission Impossible and Lara Croft Tomb Raider.

 

Ironically, the studio recently rebranded its Kings Island Tomb Raider thrill ride to The Crypt, removing reference to the original video-game it was based on.

 

"South Korea is a fast-growing and attractive market," said Michael Corcoran, president of Paramount Pictures Corp's consumer products and recreation group. "It's a business-friendly market and culturally sophisticated."

 

The 1.5-billion-dollar theme park project is a joint venture between Paramount Pictures and a South Korean auto retailer.

Dug themselves a hole here....

Now who do they have to sell their park to when they ruin it within 10 yrs?

^^That article doesn't make any sense.

Ironically, the studio recently rebranded its Kings Island Tomb Raider thrill ride to The Crypt, removing reference to the original video-game it was based on.

Paramount didn't re-brand anything because they no longer own Kings Island.

^I agree. Something's not right...