Disney eyeing theme park in S.Korea -Seoul official - Reuters 09/28/05
Article from Reuters - September 28, 2005
Disney eyeing theme park in S.Korea -Seoul official
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SEOUL (Reuters) - Walt Disney Co. is in talks with the city of Seoul on opening a theme park near the South Korean capital, an official at the city government said on Tuesday.
The talks were still at an early stage and a decision by Disney, which currently has two attractions in Asia, was not likely until next year, the official at the city's investment division said by telephone.
"Disney is conducting a viability study," said the official, who declined to be named.
The study centers on an existing theme park just south of Seoul, which is owned and operated by the municipal government. Once a popular attraction that drew from Seoul's more than 10 million population, Seoul Grand Park has since been overshadowed by newer competition.
It is not clear whether South Korea, which has a population of 48.4 million, can offer a market large enough to attract Disney's investment.
"Among the things Disney is looking at is the market," the city official said.
Disney officials in California could not immediately be reached for comment.
Earlier this year, Disney denied a South Korean media report it had reached a deal to build a theme park in Seoul.