NEW: Ferrari World set to build 2nd park in Paju, Korea

http://www.mt.co.kr/view/mtview.php?type=1&no=2013062514493791027&outlink=1

Funding does not seem to negate the possibility of progress even raised the game "Ferrari World in Paju 'project which was promised from the Middle East, investors Given the initial capital investment in some projects laid the groundwork for resumption.

 

Paju investment business team official "Ferrari World in Paju investors in the Middle East for the construction of a special purpose company (SPC) of the nominal capital of $ 2,000,000 transfer to the domestic banks," he said on the 25th. Investors in the Middle East based company, Al Ahli Group (AAG) is AAG the United Arab Emirates (UAE) in the trading and distribution business, including shopping centers and 15 affiliates are geoneurigo.

 

Ferrari World in Paju pajueup 3,720,000 ㎡ one luxury car maker on the grounds of 'Ferrari' car entered into a licensing agreement with theme parks and cultural facilities, commercial and residential development is to build a compound. Sponsor of Business Gateway Investments in capital of 50 billion won for the project, the company projects (PFV) is '㈜ Paju Eurasian Development' is promoting the establishment.

 

Business from overseas investors, according to organizers 30 billion won (overall 60%) and △ local government procurement government-funded institutions, including 2.5 billion won (5%) △ construction investors 5,000,000,000 won (10%) △ funds, banks, securities firms, financial investors 2.5 billion won (5%) △ strategic investors such as Ferrari World operators 10 billion won (20%) of plans to raise 50 billion won in capital.

 

Total project cost of 1.6162 trillion won in capital (500 million) and the debt is provided through. Foreign subsidiaries of foreign capital and domestic drag PF (PF) and procure a total of 653.8 billion won and 912.4 billion won, including facilities for the sale and the sale caters income. Last October, security administration, received approval from the business plan to start construction in February next year, in August 2016 and is aiming to open.

 

Just 1.6 trillion won feasibility of the project and the largest theme park your car financing figured out whether early blow to predict business success is the sinjungron quite a few. The goal of PFV as% of capital projects so weak that nothing more than 3% is worrisome part.

 

That is, holding the Paju official permission "to smooth the progress of projects of capital, the amount, raising the level of 20-30% stable or progress, or at the very least, after the capital, laid out in a way to secure additional investors to kkuryeoga of whether or not desirable to worry, "he said.

 

That the business' surrounding areas, including donor support USFK special law in accordance with providers for more than two thirds of the site is not secure and may apply even if the urban development projects. Due to the U.S. military presence in Korea to encourage the development of underdeveloped areas is a sort of incentive.

 

Business officials "the acceptance of land after project approval to proceed because it can reduce the burden of the initial capital" and "theme park operators in the Middle East, including the participation of foreign investors with the know-how to the business case is high," he explained.

If this park does open, it will make for a nice add-on with Seoul, since it's just outside the city. This will make Seoul even more of a coaster destination city, combined with Everland and Lotte World (plus some smaller parks.)

Given that the Formula 1 race in Korea is losing tons and tons of money, yeah, I don't know how this is a great idea or how it is going to appeal specifically to Koreans, but it isn't my money. If Sheikie Something-Something wants to blow a couple billion, let him I suppose.

Would love to have this actually happen as it will give us a reason to go back to South Korea earlier than planned!

At least you won't have to worry about being blinded by sand when riding the coaster.

Given that the Formula 1 race in Korea is losing tons and tons of money, yeah, I don't know how this is a great idea or how it is going to appeal specifically to Koreans, but it isn't my money. If Sheikie Something-Something wants to blow a couple billion, let him I suppose.

It's a theme park with a race theme. Not an actual race track. If built it's going to be very well visited, there's 25 million people in the area close by, and Korean people like amusement park's in general.

Perhaps a new park will also push Everland to do something with Eagles Fortress. Even if it's a complete rip down and building something else, just having it sit there annoys me!

Awesome, can only hope they would engage intamin to better formula rossa, a new record holder might be on the cards here.

Awesome, can only hope they would engage intamin to better formula rossa, a new record holder might be on the cards here.

If so then hopefully they will give the ride proper Ferrari colors (which IMO would be the same as I305 and DDD), since there is no desert here.

This sounds amazing hopefully it will be built, but why don't they make a Ferrai World here in America? A perfect place would be in Orlando. I figure Italian sport cars and racing theme park in America would be a good market. Since here in America we do love SPEED!

It's a theme park with a race theme. Not an actual race track. If built it's going to be very well visited, there's 25 million people in the area close by, and Korean people like amusement park's in general.

No, I know that. I'm just saying that the theme of the park seems a strange one in South Korea where they have a real race track and a real F1 race that loses real money. Not that I really care that much; it is someone else's money and maybe they'll build a clone of Formula Rossa that won't be troubled by high temperatures and sand storms and that I can fly to nonstop from my local neighborhood Delta hub. I'll save business analysis for someone else who cares.

I think this is a much better location for the park then the one in the Middle East. I know I would have never gone to Abu Dhabi on my own but would to South Korea.

This sounds amazing hopefully it will be built, but why don't they make a Ferrai World here in America? A perfect place would be in Orlando. I figure Italian sport cars and racing theme park in America would be a good market. Since here in America we do love SPEED!

Although Orlando would make the park a sure fire hit, I think Daytona Beach would be better.

Perhaps a new park will also push Everland to do something with Eagles Fortress. Even if it's a complete rip down and building something else, just having it sit there annoys me!

But Everland is a big fan of leaving them standing as "tributes", the big wheel and eagles fortress both have weeds growing up the side of them but they have signs out front thanking them for their years of service....... Although Lotte World has really pumped out a lot of new attractions this year and cleaned up older, tired areas so I really hope Everland will do the same soon, they put in a huge new ride here or there but don't seem to touch up the rest of the area around the new rides i'd love to see a year where they tidy up the older ends of the park, the whole fun-house and helicopter area is really worn down and grafitti covered and the less said about all the random kids rides that were just put down on concrete for years after the jet coaster left the better.

I know Korea is not America and theoretically there may be cultural reasons to leave decrepit rides standing, but I authentically think if any other park in the world did this (cough*SFMM*cough) they'd probably get taken to task hard for it. I've just never heard any solid foundational reason for why Everland should keep stuff like Eagle's Fortress rotting away when every other park in Korea and the world in general seems to, you know, replace old, non-operating rides with new ones.

^ Probably part of it is cost, there is no budget to remove it. It is cheaper to leave the ride in place as long as you don't need the space for something else. Include the cost of removal in the price of what ever takes its place.

Budgetary concerns are why I believe that they would keep them standing, but when you're supposed to be a major regional theme park with 6 million+ attendance and not Clementon or Adventure City, I would expect that they *wouldn't* do that sort of thing. But I shouldn't veer too far off topic.