fbpx

PROFILE

MY SUBSCRIPTION

LOGOUT

x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

Construction starts on AEG’s new Korea arena

Developed in partnership with media giant CJ Group, the 20,000-capacity Goyang City venue is on track to open in 2024

By James Hanley on 28 Oct 2021

Seoul Metropolitan Arena, CJ LiveCity, Seoul

CJ LiveCity Arena


image © CJ LiveCity

Construction has begun on AEG and CJ LiveCity Corporation’s new K-pop-focused entertainment complex in South Korea.

Set to open in Goyang City, Seoul, in 2024, the 1.8 trillion won (€1.3 billion) development comprises the 20,000-capacity CJ Live Arena and an outdoor performance space capable of accommodating 40,000 people.

According to Korea JoongAng Daily, the venue will be enabled for new technologies including the metaverse and AR.

CJ LiveCity CEO Harry HK Shin says the scheme “will create a new paradigm for Korean content”.

There isn’t a venue that is specifically designed to hold major music concerts in Korea

“A solid fandom for K-pop artists has been formed worldwide,” says a statement from CJ LiveCity, a subsidiary of South Korea’s largest media conglomerate CJ Group. “But there isn’t a venue that is specifically designed to hold [major] music concerts in Korea. To embrace more than 10,000 audiences, [K-pop groups] had to use a sports facility.”

AEG is one of the investors in CJ LiveCity, although how much the company will invest in the scheme is still under negotiation, adds the report.

Centrally located between five of Korea’s largest cities, AEG projects the new venue, which has been delayed due to licensing issues, will attract more than 20 million visitors annually.

The deal marks the firm’s entrance into the South Korean live entertainment market and further expands its footprint in Asia, where its interests include Coca-Cola Arena DubaiThailand’s Bangkok Arena and EM Live, and the Mercedes-Benz Arena in Shanghai, China.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Comments are closed.