China halts Korean theme park amid missile row

South Korean conglomerate Lotte Group has had work on a major theme park and resort in China halted as tensions mount over a US missile defence system to be installed in South Korea.

The US$2.6 billion Lotte Town development, being constructed in Shenyang, north eastern China, was due for completion this year, and features a theme park, shopping malls, apartments, hotels and office buildings.

Lotte Group – the largest operator of hotels and theme parks in South Korea – is one of a number of South Korean companies threatened over Seoul’s decision to deploy the Thaad US ballistic missile shield.

According to Bloomberg, the Chinese Government gave the order to suspend the development in December, but it is hoped that work can start again in March.

Korea’s Finance Minister Yoo Il-ho had previously voiced concerns that China could be taking unfair and indirect action against its companies, with a number having various imports blocked over the international political feud.

China’s theme park boom was been identified as a major trend for Asia in 2016’s edition of the Global Trends Report by Euromonitor, with new developments and an emerging middle class driving tourism in the region.

Image: Artist’s impression of the Lotte theme park planned for Shenyang, China, by master planner Thinkwell Group.

15th November 2016 - INVESTMENTS IN CHINA’S THEME PARKS DRIVING ASIAN TOURISM 

27th May 2016 - ASIAN THEME PARKS LEAD GLOBAL ATTRACTIONS INDUSTRY GROWTH

5th September 2015 - MORE THAN 50 THEME PARKS UNDER DEVELOPMENT IN CHINA

5th June 2015 - ASIAN MARKET DRIVES EXPANDING GLOBAL THEME PARK ATTENDANCES

23rd March 2015 - VILLAGE ROADSHOW ADVANCES ASIAN THEME PARK PLANS WITH JOINT-VENTURE WITH CITIC

18th March 2014 - CHINA ON THE EDGE OF LEISURE BUILDING EXPLOSION

15th October 2013 - LOTTE WORLD KOREA GETS NEW ENTRANCE AND PREMIUM TICKET EXPERIENCE