All data are based on the daily closing price as of September 16, 2024

South Korea Plans Entertainment Hub to Rival Hollywood by 2035

The government aims to boost film and content production with a new 3.3-square-kilometer complex
South Korea
Entertainment 100
Share this on

South Korea has announced plans to establish a large-scale entertainment hub to support its growing film, music, and television industries, aiming to replicate the success of Hollywood, Bloomberg reported. The facility, spanning 3.3 square kilometers, will include content production centers, an entertainment school, and a replica of a Joseon Dynasty palace, according to the Ministry of Culture, Sports, and Tourism.

Despite the global success of acts like BTS, Blackpink, and shows such as The Squid Game, South Korea lacks a central hub for its entertainment industry. The government plans to change that by creating an infrastructure capable of attracting both domestic and international production. The new complex, which is expected to be operational by 2035, will cater to local filmmakers and the growing number of tourists visiting the country.

While the location for this entertainment city has not yet been finalized, officials hope it will enhance the country’s tourism goals, including a target to draw 30 million visitors annually. The government is expected to provide the initial infrastructure, hoping private investment in technology and services will follow.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top