South Korean retail group Shinsegae (KRX:004170) entered into a partnership with US-based Paramount Global to develop the Hwaseong International Theme Park, 45 kilometers south of Seoul.
The 4.2 million-square-meter project will feature entertainment facilities, hotels, and resorts, with plans to open by 2029, Yonhap News reported Thursday.
Shinsegae will seek construction approval from Gyeonggi provincial authorities for the theme park, named "Star Bay City," the report said.
Shares of Shinsegae fell nearly 2% in recent trade.
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