Korea’s main entertainment agency SM Entertainment’s expansion in its real estate business will take place in KyungBuk. SM’s plan is to create a large scale visual and cultural tourist spot. Visitors may actually see how SM artistes’ dorms look like.
On April 27th, according to the real estate industries, SM and Fides Development had chosen MoonKyung City as the location for the development of the theme park. They will be developing around 888,186㎡ of area and the project will be completed around 2016 with investment involving 354.2 billion Won.
The development will start in the SaeJae area, which covers an area of 35,894㎡. Until 2012, Around 43 billion Won will be spent to develop the film studios , leisure complex, and visual support area.
Furthermore, a star zone for SM’s artistes will be developed where fanmeetings, fan signings and other events will be held. The facilities will also include stages for performances, water parks, spas and accommodations similar to the dormitories of stars like TVXQ and BoA.
SM Entertainment’s CEO,Kim YoungMin stated, “Korea’s cultural contents are not only accepted in Asia, but the whole world. We participate in this development because I feel the need to put Korea’s cultural advantages in one place.”
Translated by: Taengfan@fanwonder.com