Posted Friday, February 15, 2008 10:08 AM | Contributed by supermandl
Warner Bros., a major American movie studio, has decided to invest US$4 billion to build a theme park in the Misari area of Hanam, Gyeonggi Province, a key member of the presidential Transition Committee said on Thursday. This committee member said that Warner Bros. chairman Barry M. Meyer and executive vice president John Schulman are expected to attend the inauguration ceremony of president-elect Lee Myung-bak on Feb. 25. The executives are visiting Seoul to sign a letter of intent to build the Warner Bros. Theme Park on a 3.63 million sq.m lot in Misari, the committee member said.
Read more from Chosun.
Friday, February 15, 2008 10:15 AM
$4 billion? Sounds like it's going to be one hell of a park.
Friday, February 15, 2008 1:29 PM
Wow, who would have thought that the "American" studios wanted to invest into the theme park business in every other country except the United States
I wonder if there will be time when Paramount and Warner will return to the US theme park business? They can probably snag some SF properties on the cheap. *** This post was edited by DBJ 2/15/2008 1:32:45 PM ***
Friday, February 15, 2008 1:34 PM
3.63 million square meters??!?!
Just to put that in perspective, that's approx. 1.5 square miles, about 3 times the size of King's Island or Cedar Point.
*** This post was edited by Super Loopy 2/15/2008 1:49:44 PM ***
Friday, February 15, 2008 1:54 PM
I doubt the park will be that big, that is just the size of the land they have available.
Friday, February 15, 2008 2:17 PM
Yeah and I see them actually turning a profit on this park in a country who's GDP is far higher than it's inports.
Friday, February 15, 2008 2:25 PM
I thought that paramount wanted out of the theme park buisness?
Friday, February 15, 2008 2:35 PM
This isn't Paramount. It's Warner Brothers.
Friday, February 15, 2008 2:36 PM
I'm fairly sure the Paramount park is a liscencing deal and that Paramount itself isn't the one building the park.
Friday, February 15, 2008 5:40 PM
I like Korea.
Friday, February 15, 2008 11:26 PM
As the article mentioned, Paramount announced a park previously for Seoul. We posted news about it here, too.
Saturday, February 16, 2008 8:38 AM
I like Korea too... Its turning into the next "coaster destination" with all this! I guess Lotte World and Everland will keep on building great stuff just to keep up!
Warner Brothers... does that mean we could finally see a DC Comics area on the IOA or Disney level?
Saturday, February 16, 2008 9:53 AM
Ghah! for 4 bill they could just buy Six Flags back!
Sunday, February 17, 2008 4:14 PM
^They could buy back Six Flags back twice and probably make some improvements at some of the parks with that kind of money.
Monday, February 18, 2008 12:18 PM
Interesting. The last time I was at Universal Studios Hollywood, I remember looking down the hill at the Warner Studios wondering when and if they'd ever get into the theme park biz.
So who's left? 20th Century Fox? ;)
But come to think of it, there was Movie world. Duh!
*** This post was edited by janfrederick 2/18/2008 12:35:38 PM ***
Tuesday, February 19, 2008 9:55 PM
Warner Bros. had a 50% stake in their Australian parks. Time Warner also obviously owned Six Flags in the 90s. And when the Spain park was built Warner Bros. had somewhere around 6-11% of ownership I believe. They sold their stake in the Australian parks a while back (I suspect for no other reason than because their partner in it decided to buy them out); no idea what happened with the Spain park, but I suspect they exited like all the others.
Fox launched a park in Sydney around 2000 which was an abysmal failure. I'm not sure you could call it a park though; it had one major (Titanic) ride and a handful of quasi-attractions and a ridiculous ticket price.
The Paramount park is to be built by Samsung, is it not? Under license as Moosh suggested.
*** This post was edited by auscoasterman 2/19/2008 9:59:39 PM ***
Tuesday, February 19, 2008 10:53 PM
Samsung?? But Samsung already owns the very successful Everland theme park in South Korea.
But, what I had seen on the Paramount park was that it was a water park along with a movie studio, so we'll see.