In the wake of recently announced Nickelodeon and Marvel theme park plans for Dubai, Paramount Licensing and Daewoo Motor Sales Corporation have hatched an agreement to develop a Paramount Pictures-based theme park in South Korea.

Located in the city of Incheon (a one-hour drive from Seoul), the US$800 million theme park will feature characters, attractions and facilities based on Paramount's library of IP. Under the terms of the licensing agreement, DWMS will bear the full cost of developing the park.

The opening date has yet to be announced, but the 120-acre parcel of park land should also house a five-star hotel and shopping concourse area upon launch. And future phases of development will likely include a water park component.

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