Stalled Universal Park Korea Set for 2014 Opening

Developers of the Universal Studios theme park and resort in South Korea have announced that the project is set to open in early 2014.
Plans for Universal Studios Korea Resort, billed as the largest such Universal project in Asia, were originally announced in May 2007 amid hopes it would be up and running in 2012. However, the global financial crisis has delayed its development.
Kim Moon-Soo, Governor of South Korea's Gyeonggi province, where the resort is set to be built, blamed the worldwide financial meltdown for the delay, but said the large-scale project is back on track. Construction is set to start at the beginning of next year, according to a release.
"Our Universal Studios in Korea is bigger than all the other studios combined," Kim said at a press event, referring to theme parks already operating in Florida, California, Japan and another due to open soon in Singapore.
Kim added, "this will be a remarkable landmark in terms of tourism in Korea."
A total of 15 partners are participating in the development, including South Korean conglomerate Lotte Group and builder Posco E&C. They have recently signed a framework agreement to raise capital for the US$2.7 billion project expected to attract 15 million visitors a year in South Korea and from abroad.
The resort is to be built on a site in the city of Hwaseong, located south of Seoul and also close to the area's main international airport in Incheon.
Nearly half of South Korea's population of about 50 million people are said to live within an hour's drive.
Developers have also placed great hope on attracting international visitors from increasingly affluent Asia, particularly nearby China.
Universal Parks & Resorts Chief Executive Thomas L. Williams explained "the number of Asian international tourists is significant and growing," adding "this kind of resort that can and will draw international visitors to South Korea is a sure thing."
In addition to the theme park, the project will include a waterpark, shopping centre, hotels and a golf course, and has renowned American movie director Steven Spielberg as creative consultant.