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Posted by serendipity38 pts Thursday, January 15, 2015

YG Entertainment to invest 100 billion KRW (~$92 million) into establishing a 'K-pop cluster' in Gyeonggido

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YG Entertainmentwill reportedly invest 100 billion KRW (~92.4 million USD) into making a large-scale K-pop center in Uijeongbu, Gyeonggido (Gyeonggi Province).



According to the Gyeonggido and Uijeongbu officials on the 15th, YG Entertainment and YG K PLUS Co-CEO Yang Min Suk and Gyeonggido province official Nam Kyung Pil and Uijeongbu mayor Ahn Byung Yong will officiate their 'YG Global K-POP Cluster Establishment Agreement' through a signing ceremony in Uijeongbu on the morning of the 16th.


The K-POP cluster will be located in Sangokdong (49,600?), near the Incheon International Airport. YG Entertainment will invest a total of 100 billion KRW (~92.4 million USD) including the land purchase fee of 37.5 billion KRW (~34.6 million USD) and construction fee of 62.5 billion KRW (~57.7 million USD).


The K-POP cluster is expected to be completed in 2018 and will have 5 intimate theatre venues, a center to experience Asian popular music, as well as a hotel, studio, fashion and beauty shops, and recreational centers.


With its location near the airport, it's expected to become a major tourist hot spot with its establishment.

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