hankyoreh

Universal Parks & Resorts, its local partners and the government of Gyeonggi province will sign a memorandum of understanding on Tuesday calling for the construction of a Universal Studios theme park at a seaside location in Hwaseong, Gyeonggi province, by 2012, the provincial government said Monday.

Hwaseong is about 70 kilometers southwest of Seoul. The Universal Studios theme park is expected to create about 60,000 new jobs, as it will feature a variety of entertainment facilities, restaurants, hotels, exhibition and convention centers and resort and spa centers, the provincial government said.

It estimates the Universal Studios theme park will generate about 2.9 trillion won (US$3.15 billion) over the next five years, 5.5 trillion won worth of production and an annual tax income of 190 billion won.

The government also noted that the construction of the theme park will be coordinated with the province's plan to build "Songsan Green-city," a new environment-friendly urban center, on a lot of about 56 square kilometers near Sihwa Lake in Hwaseong.

The construction of Songsan Green-city will begin in 2009. Its first phase is slated for completion in 2013, the government said.

SUWON, South Korea, Nov. 26 (Yonhap)