Paramount announces studio-branded theme park in South Korea
Paramount Pictures is getting into the theme park business. According to Variety, the movie studio has just announced a deal that it will open a theme park in South Korea. Paramount struck a deal with Mohegan Gaming & Entertainment, which owns the Inspire Integrated Entertainment Resort in Incheon, South Korea.
The company has invested $2.4 billion into the new project, which will include a hotel, shopping districts, an entertainment arena, and rides based on the biggest Paramount properties like the Mission: Impossible franchise.
Kevin Suh, Paramount’s EVP of themed entertainment called it “one of the first locations for a world-class Paramount-branded theme park,” and is expecting it to become a worldwide destination for pop culture fans. It’s actually the second attempt at a theme park of this kind. The first deal was made in 2008 between Paramount and South Korea’s Daewoo Motor Sales, though the project ultimately fell apart.
“We are pleased to have the major global force in entertainment, Paramount, on our impressive and growing list of strategic partners for Project Inspire. Aligning with highly sought-after and recognized brands with mutual goals is a key component to the creation of the world’s first true integrated entertainment resort,” said Mario Kontomerkos, CEO of Mohegan.
Construction is set to start next year, with an official opening aiming for June 2022. It’s expected the theme park will create around 10,000 jobs.