Universal Studios announced today that

Universal Studios announced today that they have chosen the site for their new $3.1 billion theme park and resort just outside of Seoul, South Korea. This is the biggest undertaking of Universal (which is also building parks in Dubai and Singapore) and is even more costly than most Disney projects. Universal hopes to attract tourists from nearby China as well as a portion of the 24 million South Koreans who live within an hour's drive of the site. The resort will encompass a park, hotels, a golf course, a convention center, and outlet mall and restaurants. [via]