After years in development, a massive project in South Korea is moving into the execution phase: introducing Star Bay City, a new entertainment city anchored by a theme park based on the intellectual property of Hollywood giant Paramount. The total construction cost is estimated at no less than $6.6 billion, with an initial opening date projected for 2030.
At the heart of the sprawling complex — called Star Bay City and set to cover some 4.2 million square meters — will be the Hwaseong International Theme Park. The park alone is expected to cost around $1.3 billion to build and will feature attractions based on Paramount’s extensive content library. Visitors can expect immersive experiences themed around iconic franchises like Star Trek and Top Gun, along with dedicated zones for popular Nickelodeon brands such as SpongeBob SquarePants and PAW Patrol.
Alongside the park, the project will include a full-scale integrated resort city featuring a water park, major shopping centers, hotels, golf courses and residential areas. The idea is to bring lodging, leisure and shopping together in one destination in the city of Hwaseong, about 45 kilometers south of Seoul. Construction is scheduled to begin in the second half of 2026. The timeline includes an initial opening in 2030, major expansions by 2035, and continued phased development through 2050, according to reports in Attractions Magazine and the UK’s The Sun.
The development is being led by South Korean conglomerate Shinsegae Group, with Paramount serving as a licensing and creative partner. Shinsegae has emphasized its goal of creating "a space where visitors can experience characters and stories from their imaginations in real life, providing a unique blend of fun, inspiration and relaxation for people of all ages."
Paramount's famous opening
For South Korea, the project is part of a national strategic initiative. It aims to diversify the country’s tourism offerings beyond the global draw of K-pop and historical sites, positioning it to compete directly with regional powerhouses like Tokyo Disney Resort and Universal Studios Japan. The project has received government support and approvals, with an ambitious target of up to 30 million annual visitors once fully completed.
First-ever Disney theme park planned in the Middle East
This isn’t the only mega-park expected to be built outside the U.S. or Europe in the coming years. In May, The Walt Disney Company announced plans to open a Disney theme park in Abu Dhabi, the capital of the United Arab Emirates, in partnership with regional developer Miral. This will be Disney’s first major new park in nearly a decade and its first-ever in the Middle East.
The resort is planned for Yas Island, a popular tourism hub already home to family attractions such as Warner Bros. World, SeaWorld Yas Island, and Yas Waterworld. Disney has not yet announced an opening date, though chairman Josh D’Amaro noted that a project of this scale typically requires one to two years of planning and another four to six years of construction.