A Live Nation-led consortium that also includes Oak View Group is the preferred bidder to deliver a £150m arena in the Welsh capital
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The 20,000-cap arena and multi-cultural entertainment complex will be developed in Busan, Korea's second most populous city
By James Hanley on 22 May 2023
Live Nation is partnering with Korea’s Busan Metropolitan City and to develop a new arena and multi-cultural entertainment complex in Busan, South Korea’s second most populous city.
The new destination will include a 20,000-capacity arena, an exhibition centre, hotels, and an educational facility to foster talent in K-pop and K-culture.
Live Nation will manage the venue, with the local Live Nation Korea team also providing expertise on content and concert promotion to book talent.
“As we continue to expand our global venue business, Busan will be an important touring hub for global superstars who are touring more of the world, as well as K-pop and local artists,” says Live Nation president & CEO Michael Rapino. “We’re excited to help create more opportunities for artists and fans to connect, while also contributing to the growing tourism in the city.”
Busan City will assist with the approval procedures relevant to the project site and provide administrative support. Three potential sites are being investigated for the complex in Busan City’s projects.
“The arena will become a hub of tourism empowered by K-pop, contributing to the local and national economy”
“The arena will become a hub of tourism empowered by K-pop, contributing to the local and national economy,” says Busan’s mayor Heong-Joon Park. “The complex will create many opportunities and synergies with other cultural organizations in Busan including Osiria Sightseeing Complex, Haeundae Beach and local festivals like Busan Fireworks Festival and G-Star. We are looking forward to seeing Busan transforming into a global city full of cultural diversity.”
Live Nation’s Venue Nation owns, operates or has equity interests in a global portfolio of more than 250 live entertainment venues. Across the Asia Pacific, Venue Nation also oversees Grange Road in Singapore, Spark Arena in New Zealand, and the Palais Theatre, Festival Hall, Anita’s Theatre, Fortitude Music Hall, and Hindley Street Music Hall in Australia.
It was reported earlier this year that South Korea is to gain three new concert venues by the end of 2025 as it moves to capitalise on the demand created by the K-pop explosion.
PHOTO: Heong-Joon Park, mayor of Busan City, Greg Gillin, SVP – venue development, Live Nation, and Seung-Han Lee, CEO of B.GET.
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