[THE INVESTOR] South Korean pharmaceutical firm Celltrion ’s chairman Suh Jeong-jin has kicked off plans to build a large-scale theme park in Incheon’s Yeongjong-do, according to an exclusive news report here.

The park would be a personal project, with a handful of investors taking part, according to Incheon Free Economic Zone authorities and the Incheon Development & Tourism Corp.

“A group of investors including Suh has already invested around 1 billion won (US$86,930) to initiate the plan. They also contacted US companies like Fox and Universal Studios,” said one official close to the matter.

Suh and his group are looking to invest up to 900 billion won for the project. 

The theme park -- tentatively named the Yeongjong Theme Park -- will be built in Yeongjong Haneul City that’s about a 10-minute drive from the airport. The area envisioned for the park spans some 2.64 million square meters. The zone authorities said Suh and other investors are undergoing negotiations to purchase the property.

LH Corp. and Incheon Development & Tourism Corp. are reportedly demanding 2.9 million won or more per 3.3 square meters -- or 1 pyeong -- for the land. The area is currently being commercially developed by the two public firms.

Previously, investors had tried to turn parts of Yeongjeong Haneul City into a fashion hub and a comprehensive resort.

By Kim Ji-hyun (jemmie@heraldcorp.com)