A large theme park is being planned for Yeongjong Island, home to South Korea’s Incheon Airport. It will be one of the largest and most modern parks in the world, reports The Korea Herald.
KIT World, the project’s developer, announced that substantial foreign investment has been secured for the “5D Theme Park” project.
The company states that foreign investors have committed a total of 16.4 trillion won ($12.6 billion), which includes $2.8 billion in confirmed early-stage funding. These pledges were secured prior to the project’s official launch in Korea.
‘5D theme park’ to anchor new resort complex
This futuristic park aims to surpass traditional amusement parks by integrating immersive digital technologies, including artificial intelligence, augmented reality, and virtual reality, with physical attractions.
The KIT World website promises a world-class attraction complex that will “establish itself as the centre of K-Culture”, with ski resorts, artificial beaches, luxury resorts and international hotels, a large-scale casino, various shopping malls, and an international financial town, alongside the “five-dimensional theme park that transcends time and space.”
Kenneth Kim, a Korean-American who has spent nine years developing the project concept, is now collaborating with KIT World and will serve as president of the newly planned foreign-invested corporation to finalise the investment process and start construction.
“This project has drawn strong interest from international investors who see high potential in the concept and scale of this theme park,” says KIT World.
“Despite facing domestic political turbulence in recent years, such as martial law declaration, impeachment proceedings and early presidential elections, we have recently reached a mutual agreement with our US partners and are now ready to proceed.”
KIT World states that it intends to conduct business briefings and site visits with US stakeholders in July and August.
Last year, it was announced that South Korea’s retail giant, Shinsegae Group, had partnered with US media company Paramount Global to build a new theme park in Hwaseong. Additionally, four new museums will be established in Sejong, South Korea by 2028, as part of a plan to expand the country’s museum and art gallery infrastructure.
