K-pop powerhouse SM Entertainment and Changwon City, South Gyeongsang Province, will collaborate for setting up a colossal culture complex, the city mayor said on June 21.
SM Entertainment along with a consortium consisting of top-tier construction companies is planning to build a nine-story complex with parking space designed to accommodate approximately 206 vehicles, near the city’s main bus terminal, Changwon Mayor Ahn Sang-soo said in a press conference.
Aerial view of SM Entertainment’s culture center in Changwon
SM will also invest 101 billion won (US$87.5 million) on the complex until 2020 then takeover management after donating it to the city.
The complex will provide hallyu-based services related to retail, interactive hallyu studio, hologram theaters, and conventions. A private 25-room boutique hotel is expected to open across the top two floors.
The purpose of this project is to establish Changwon as a hallyu culture hub with the complex’s proximity to Gimhae International Airport and to aid the city’s annual initiation of K-pop World Festival organized by the Ministry of Foreign Affairs.
The city is expected to further the plan by launching audition and training programs for hallyu star hopefuls.
SM has already displayed its management skills over a similar complex with its interactive retail unit at COEX Artium, Seoul, which opened in 2015.
By Jung Min-kyung (email@example.com