YG’s K-Pop Cluster

One of South Korea’s biggest entertainment production companies, YG Entertainment, has announced that it will develop a $92 million K-pop culture and business “cluster” on a 49,600-square-meter site in the city of Uijeongbu that should be finished by 2018.

According to Korea Bizwire, the facility will be composed of “large concert halls, small to medium multiplexes, exhibitions on East Asian music, music studios, music institutions, shops and tour districts.”

The governor of Gyeonggi Province, where Uijenongbu is located, hailed the decision, which he said will boost business in the region and create hundreds of new jobs. At a Jan. 16 ceremony in the city attended by YG co-CEO Yang Min-suk, the governor said he hoped the cluster would “grow into one of the most important entertainment complexes in the world.”