StockMarketWire.com - Merlin Entertainments said it had entered into a partnership agreement with the Gangwon provincial government to build a KRW 290bn (£205m) Legoland theme park in South Korea.

The park, slated to open by 2022, would be situated on the island of Hajungdo in Chuncheon, about an hour's journey east of Seoul, and include a hotel.

Merlin said it would invest KRW 210bn (£148m) into the development, which it would fully own and operate, with the rest coming from Gangwon's province's investment arm, LL Developments.

It would be Merlin's tenth Legoland development, following a scheduled opening in New York in 2020.

'We know Koreans love theme parks and love Lego, and together with the Gangwon authorities, we have already established an attractive and well-connected site in Chuncheon,' chief executive Nick Varney said.

'We look forward to accelerating progress with our partners who have contributed significantly with funding and infrastructural support, and to welcoming our first guests to Legoland Korea resort.'


At 1:05pm: [LON:MERL] Merlin Entertainments PLC share price was +15.2p at 338.3p



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