GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON = Yonhap News) LL Development Co., Ltd., the project developer of Chuncheon Lego Land Korea, opened its office in Chuncheon on April 15 and began operation.

The company is set to hold a groundbreaking ceremony in June and begin construction on Chuncheon Lego Land Korea in August. The theme park is expected to open to public in the second half of 2016.

LL Development Co., Ltd. has undergone the excavation of cultural assets in the construction site since last October. The company began the dam construction work in February and have gone through various licensing and planning procedures.

The development area of Chuncheon Lego Land Korea is about 1,290,000m2, and the total business cost is KRW 511 billion.

Gangwon-do forecasts that the theme park will attract more than two million both domestic and foreign tourists every year, generate about KRW 4.4 billion in tax revenue annually, vitalize the local economy and develop a tourism cluster for the Chuncheon and nearby areas.

Gangwon-do (16.7 percent), Merlin Group (16.7 percecnt) YJ Brick Inc. (29.1 percent), Korea Investment & Securities C., Ltd. and Hyundai Construction (8.3 percent) are participating in the project.

Meanwhile, Gangwon-do appointed the Danish Ambassador to Korea Peter Lysholt Hansen as an honorary governor of Gangwon.

Hansen was recognized for his contributions to Chuncheon Lego Land Korea project, including signing of the memorandum of understanding and undertaking agreement and securing the government-level supports for the project.

limbo@yna.co.kr

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Source Text

Source: Yonhap News (April. 15, 2014)

** This article was translated from the Korean.