Legoland Korea will open in Chuncheon in Gangwon Province, South Korea in July 2016.

Legoland Korea starts countdown for formal contract

Gee Hong-goo


Educational theme park Legoland Korea will open in Chuncheon in Gangwon Province, South Korea in July 2016.

If the 1.32 million square-meter (400,000 pyeong) Legoland Korea is constructed in Jungdo, the most attractive tourist place in Chuncheon, it will become the world’s seventh largest and East’s Asia’s first Lego-themed theme park.  The Maeil Business Newspaper found Merlin Entertainments Group wrapped up fine-tuning process for the formal contract Thursday to sign it around early next week. A formal contract came 22 months after the memorandum of agreement (MOA) signed in September 2011. Governor of Gangwon Province Choi Moon-soon and Merlin Group’s general director will sign the contract and the provincial government will conclude the separate contract with the nation’s consortium.
Under the contract, Merlin Group will raise 100 billion won ($88 million including 30 billion won for Legoland Korea management company and 10 billion won for special corporate body) and Gangwon Province will be responsible for the construction of infrastructure including bridges. Gangwon Province will oversee financing plans devised by the Korea Investment & Securities.

The Gangwon provincial government, Hyundai Engineering & Construction, Korea Investment & Securities, LTP Korea and Serveone will form a consortium to work on the Lego Land Korea project.

Gangwon Province noted, “Legoland Korea, if opening, will attract two million tourists annually, create 9,800 jobs and boost local tax revenue by 4.4 billion won.”

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: