Universal Studios is likely to construct a theme park in Hwaseong City in Gyeonggi Province.
 
The state-run Korea Water Resources Corporation, or K-Water, said on Tuesday that it selected a multinational consortium as a preferred bidder for the Songsan Global Theme Park project.
 
The consortium involving Chinese investors will invest five trillion won to construct by 2020 a Universal Studios theme park, a water park, a Korean pop culture theme park and condominiums.
 
If completed, South Korea will become the fifth country with a Universal Studios theme park after the U.S., Japan, Singapore and China.
 
The government decided to provide financial support and infrastructure for the project in a trade promotion meeting held in July.