Universal group to invest $3 bln in S.Korea park
SEOUL, Nov 27 (Reuters) - A group of investors led by Universal Studios said on Tuesday they would invest a total of 2.9 trillion won ($3.1 billion) in a theme park in South Korea, slated to open by 2012.
The theme park will be located in Hwaseong City in Gyeonggi Province, about 30 km (18.5 miles) south-west of the South Korean capital Seoul.
Universal Studios, operated by NBC Universal Inc., a unit of General Electric Co. (GE.N: Quote, Profile, Research, Stock Buzz), is joining forces with South Korea's POSCO Engineering and Construction, a unit of steel giant POSCO (005490.KS: Quote, Profile, Research, Stock Buzz), the province of Gyeonggi, Korea Development Bank and other financial partners.
(Reporting by Kim Soyoung, editing by Keiron Henderson)
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