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Old December 22nd, 2015, 09:27 AM   #1
inno4321
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HWASEONG | Universal Studios Korea | App






location(southern west side of seoul)
HAWSUNG is satellite city of Seoul metropolitan.
Today K-water OFFICIAL selected USK(Universal Studios Korea) consortium as first negotiation company for Universal Studio of SEOUL KOREA project!!


Long ago this project proposal but stop due to government's land selling stance's stubborn.
But this project resume by president of korea's public promise

So finally TODAY selected USK(Universal Studios Korea) consortium!


http://www.yonhapnews.co.kr/photos/1...13&input=1196m

USK(Universal Studios Korea) consortium consist with CSCEC: China State Construction Engineering Corporation, CTS: China Travel Service, DAEWOO etc

According to the K-water this SEOUL KOREA Universal Studios WILL BE built as largest scale than Universal Studios of JAPAN.
And competition with Universal Studios of singafore and China.


P.S this project very important for me. Cause SHINANSAN new subway line is going to pass this studio place.
So i can easily access to this studio from my home(Geumcheongu of Seoul) : guess 20 minute take
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Last edited by sieradzanin1; December 22nd, 2015 at 04:56 PM.
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Old December 22nd, 2015, 09:36 AM   #2
inno4321
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project cost : $ 5 billions
project land scale : 4.2km2
K-POP and korea Drama and Movie star experience facilities built inside
Korea government expectation 1400,000 per a year foreigners more visiting to seoul korea due to this studio.

Total project land scale is SEOUL KOREA one is LARGEST(compare with Singafore/china/japan/hongkong)
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Old December 22nd, 2015, 11:37 AM   #3
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http://news.naver.com/main/read.nhn?...aid=0008069218
According to the K-WATER
This universal SEOUL KOREA world Second largest theme park in the world.(first is Disneyland of shanghi China)

also 3000 residence apartment going to built in there.

new job during U/C 76,000
after finish new jobs 48,000
and $ 6 billions effect on production inducement

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Old January 4th, 2017, 03:08 AM   #4
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So, I hadn't heard much about the project for a while, and decided to do a quick search. Here is an update from September

Quote:
Universal Studios project stalled again

K-Water will still try to complete contract by the end of the year

Sept 03,2016

Once again, the construction of a Universal Studios amusement park in Hwaseong, Gyeonggi, seems to be going nowhere.

The Korean Water Resources Corporation (K-Water) failed on Tuesday to sign a contract with Universal Studios Korea (USK) to build a Universal Studios amusement park in Hwaseong, Gyeonggi. The first deadline for concluding a contract was Aug. 31.

The contract was not concluded as the USK consortium failed to raise sufficient funds to start the construction of the amusement park and could not conduct several preliminary procedures, such as feasibility examinations, in time.

The project was previously cancelled in 2012, but was restarted as President Park Geun-hye proposed to build an amusement park as a presidential campaign pledge.

K-Water designated USK as the preferred bidder for a project to construct an internally famous theme park on Dec. 22, 2015.

Among those participating in the consortium were Chinese Travel Agency Limited (CTS), China State Construction Engineering Corp. LTD (CSCEC) and Daewoo Engineering and Construction. The theme park project was initially scheduled to have been completed by 2020 in Sinoe-dong, Hwaseong.

The site for the theme park project is 4.21 million square meters (421 hectares) in size, or 1.4 times that of Yeouido. K-Water owns the land for the project as the water resources management agency reclaimed Lake Sihwa in 1994.

The consortium planned to construct a Korean version of Universal Studios along with a water park and hotel for the first phase of construction, and a shopping mall, golf course and condominiums were planned for the second phase.

If the theme park were to be built on schedule, Korea would join the United States, Japan, Singapore and China as the fifth location of the international amusement park.

K-Water officially permitted USK to proceed with the proposed construction plan on June 1, and offered Aug. 31 as the first deadline to conclude a contract. But the consortium ran into issues regarding its funding plan. Of the required 5 trillion won ($4.5 billion), 1 trillion won was to have come from its own finances while 2 trillion won was to have come from sales of existing apartments on the land, but K-Water said they failed to secure the remaining 2 trillion won.

“With the current domestic economic situation in mind,” a K-Water official said, “it is difficult to raise such large funds within a short period of time since the approval of the project three months ago.”

The official added, “We are currently negotiating with many financial institutions, including Korea Development Bank, pension funds and mutual aid associations. Among the 60 clauses necessary to form an agreeable contract with the consortium, we have completed 40.”

Questions as to whether there was a lack of investment due to poor business feasibility were also raised.

“In the face of the new Disney World opening in Shanghai, China, which is only a one-hour flight away,” said Ko Dong-wan, a professor of Tourism Development at Gyeonggi University, “there are doubts as to whether Chinese and other tourists would be willing to travel to a theme park in Korea.”

But Kang Sung-kwi, K-Water Project Manager, said, “We expect 7.5 million visitors if Universal Studios were to open in Hwaseong, which is much more than Universal Studios in Singapore (3.84 million visitors). We predict the project has great business potential, as it will be located 30 minutes from Incheon International Airport.”

Though they failed to sign the contract by the first deadline, K-Water will try to conclude the contract with the consortium by the end of this year and enter construction by the latter half of next year.

The amusement park project was first introduced in 2007 with the name Hwaseong Universal Studios Korea Resort (USKR). At the time, K-Water designated the USKR consortium as the preferred bidder, which was supported by Lotte Asset Development Co., but the project was cancelled in 2012.

Due to the Foreigner Investment Promotion Act at the time, they failed to attract 10 percent of foreign investment, and there was a breakdown in negotiations regarding the 504 billion won needed to purchase the land site.
http://mengnews.joins.com/view.aspx?aId=3023399
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Old January 4th, 2017, 05:35 AM   #5
inno4321
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Captain here
According to the SUJAWONGONGSA of Skorea
-contract extension will be decide until this month
-So whether project go on or disappear in result this month
-Contract finish this month
-SUJAWONGONGSA send official asking paper to USK about contract
-USK reply they will decided until this month by phone call from USK to SUJAWONGONGSA
-SUJAWONGONGSA and USK agreed some point issue about contract but they not yet agreed about blame who will take responsbility when project dismiss.
-SUJAWONGONGSA can't confidence whether USK get investment about $ 1 billions from Daewoo, Dohaw, CSCEC, CTS or not

In short we can know everything in this month
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