Universal will invest $3 billion in South Korean theme park

Universal Studios said on Tuesday 27 November that along with a group of investors, it would invest 2.9 trillion won ($3.1 billion) in a theme park in South Korea that is slated to open in 2012. It will be located in Hwaseong City in Gyeonggi Province, about 30 km south-west of Seoul.

Universal Studios is operated by NBC Universal Inc, a unit of General Electric. It is joining forces with South Korea''s Posco Engineering and Construction — a unit of steel giant Posco — the provincial government of Gyeonggi, the Korea Development Bank and other financial partners to bankroll the theme park.