Lionsgate theme park to open at Jeju Shinhwa

Hong Kong-listed Landing International Development has announced an agreement with LionsGate Entertainment to develop a theme park at Jeju Shinhwa World integrated resort.

The theme park, named Lionsgate Movie World, will be Lionsgate's first branded outdoor theme park, which will be built exclusively around world famous movies.

The theme park will span 122,000 sqm, and will center around seven movie zones with multiple Lionsgate’s film properties, including Hunger Games, The Twilight Saga and Now You See Me.

Visitors will be able to experience movie scenes through state-of-the-art rides, attractions and 4D Intellectual Property (IP) reproduced streets and towns. Each zone will also feature themed restaurants, cafes, souvenir shops and entertainment performances.

The theme park is expected to commence construction in 2018 and is scheduled to open in 2019.

“With addition of Lionsgate Movie World as the centerpiece of Jeju Shinhwa World, the Group believes that Jeju Shinhwa World will offer comprehensive premium guest experience in world class resort facilities including Four Seasons Resort, Marriott Resort and Spa, Somerset serviced resort condominium and upscale villas,” wrote Landing International Development Ltd chairman and executive director Yang Zhihui.

Profit warning

Landing International on Thursday also told investors it is expected to record a narrowed net loss for the six months ended June 30, 2017.

“The expected improvement of the 2017 Interim Results is mainly attributable to (i) segment profit of property development arose from revenue recognition upon delivery of the properties to the purchasers; (ii) gain on fair value change of financial assets at fair value through profit or loss; and (iii) gain on fair value change of investment properties,” said the company in a filing on Thursday.

More news from this jurisdiction

South KoreaWednesday, Sep 13, 2017

A new cruise ship terminal is set to be built just 5km from Incheon International Airport, with the aim of boosting passenger traffic to the airport and its two neighbouring resort complexes.

South KoreaTuesday, Sep 12, 2017

Casino operator Kangwon Land may see itself back in the center of a corruption scandal which took place between 2012 and 2013.

South KoreaMonday, Sep 11, 2017

Jeju Shinhwa World is set to add a new K-pop entertainment center, named YG Town, to its non-gaming offerings, Yonhap News reports.

South KoreaMonday, Sep 04, 2017

TGG Takara Gaming Group has secured Korea Testing Certification approval and has signed a gaming machine operation agreement with Majestar Casino.

South KoreaWednesday, Aug 30, 2017

Lotte Tour Development Co has selected Grand Hyatt as the hotel brand for its Jeju Dream Tower integrated resort.

South KoreaMonday, Aug 28, 2017

Kangwon Land, the only casino in South Korea that allows local gamblers, says it is discontinuing credit card cash services at the property starting September 1, 2017.

South KoreaWednesday, Aug 23, 2017

Lotte Tour Development Co, the company behind the proposed Jeju Dream Tower Integrated Resort is raising funds through the issuance of KRW 40 billion (US$35.3 million) of convertible bonds.