A Landmark Rises on Hwaseong... Hwaseong International Theme Park Back on Track After 10 Years

A Long-Standing Community Project... On Track After Two Failures

Aerial View of Hwaseong International Theme Park

[Asia Economy Reporter Moon Jiwon] The 'Hwaseong International Theme Park' development project, which had repeatedly stalled and failed during its 추진 과정, is gaining momentum again.

The Ministry of Land, Infrastructure and Transport announced on the 16th, "The Hwaseong International Theme Park development project, which was canceled twice in the past, signed a business agreement today after four months of negotiations following a development plan change in December last year," adding, "The project is expected to get on track."

The Hwaseong International Theme Park project involves creating a complex resort-type theme park over approximately 3.16 million square meters in Sinwoeri and Munhori areas of Namyang-eup, Hwaseong-si, Gyeonggi-do.

The government has made many efforts to build a global theme park for over 10 years, but the project was canceled during the operator selection process in 2012 and again at the business agreement stage in 2017.

Since then, the government has continuously negotiated through events such as the Economic Ministers' Meeting in February 2018 and the operator public offering in November of the same year, ultimately succeeding in signing the business agreement this time.

This agreement was reached after the Ministry of Land, Infrastructure and Transport approved the development plan change in December last year, led by Korea Water Resources Corporation and the Shinsegae Property Consortium (Shinsegae Property, Shinsegae Construction).

The Hwaseong International Theme Park consists of a theme park utilizing four concepts and surrounding landscapes such as dinosaur egg fossil sites (1.2 million square meters), a stay-type complex facility including a hotel with 1,000 rooms and shopping spaces (1.16 million square meters), and residential apartments and public facilities (800,000 square meters) to secure living conditions and convenience for theme park workers. The developer will invest approximately 4.5 trillion KRW.

The Ministry of Land, Infrastructure and Transport plans to revise the implementation plan this year, and Korea Water Resources Corporation aims to complete the land supply contract by the end of this year. The developer will obtain permits such as designation of tourist complexes and amusement parks from local governments and start construction by the end of next year.

The theme park development is expected to have ripple effects including 15,000 direct jobs, 110,000 induced jobs, 19 million annual visitors, and an economic impact of 70 trillion KRW.

Park Jaehyun, President of Korea Water Resources Corporation, said, "The Hwaseong International Theme Park project, a long-cherished wish of the local community, has taken a new first step," adding, "We will actively play a role to establish it as a growth engine that plays a major role in the national tourism and leisure industry."

Ha Daesung, Director General of Land Policy at the Ministry of Land, Infrastructure and Transport, said, "With the project, which had been stagnant for over 10 years, now on track, it will greatly contribute to revitalizing the depressed local and national economy," and added, "We will do our best to make it another landmark of our country."

This content was produced with the assistance of AI translation services.