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U.S. film giant Universal Studios signed an agreement with a South Korean consortium Tuesday to build Asia's largest theme park in the provincial city of Hwaseong, about 60 kilometers southwest of Seoul. The $2.67-billion deal joining Universal Parks and Resorts and 14 local partners, including POSCO E&C, Korea Water Resources Corporation and Lotte Group, revives an earlier plan that had been delayed for two years by the global financial crisis.
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