[THE INVESTOR] A large entertainment complex that combines shopping, K-pop and children’s entertainment will be built in Uijeongbu, Gyeonggi Province, as part of the government’s investment-boosting drive.

According to the plans revealed on July 7, the central government will support Uijeongbu’s plans that will see the construction of a 620,000-square-meter complex in the area just north of Seoul.

The project is scheduled for completion in 2018, and 382.4 billion won (US$ 330.8 million) will be injected. 

The complex will include a Pororo theme park, Shinsegae outlet and a K-pop cluster operated by YG Entertainment. Pororo is a locally developed animation character. The complex will also include a hotel and other convenience facilities, Uijeongbu government said.

The K-pop cluster will include a total of six stages, exhibition of Asian pop music, recording studio and other features. The cluster will also double as a training center for talent discovered by YG Entertainment.

However, the area designated for development is currently a greenbelt area, and the presence of US Forces Korea’s Camp Stanley in the adjacent plot are among the issues the developers need to resolve.

Although Uijeongbu government expects the greenbelt designation will be easily lifted, Camp Stanley’s relocation schedule remains uncertain.

The land the base occupies was scheduled to be returned to South Korean authorities in 2016, but the delay in the Pyeongtaek base construction pushed back the date to sometime in 2017.

By Choi He-suk (cheesuk@heraldcorp.com)