Challenges for Establishing in the Domestic Market in the 2nd Year of Opening
Leveraging Global Corporate Experience to Integrate Domestic and International Characteristics
First Introductions This Year: Night Openings and Water Playgrounds
"Merlin Entertainments, the operator of Legoland, is financially very solid and has no problems whatsoever."
Lee Soon-kyu, CEO of Legoland Korea Resort (Legoland), emphasized this during a press conference held on the 22nd ahead of the new season opening. He was addressing concerns regarding last year's so-called 'Legoland incident,' which involved controversy over Gangwon Province's refusal to guarantee payment for asset-backed commercial paper (ABCP). The market had expressed worries about Legoland's liquidity after Gangwon Province announced its plan to file for corporate rehabilitation of Gangwon Jungdo Development Corporation (GJC).
Lee Soon-gyu, CEO of Legoland Korea Resort, is explaining this year's operational plans at a press conference held on the 22nd. [Photo by Legoland Korea]
CEO Lee stated, "Gangwon Jungdo Development Corporation was established to develop Jungdo (Chuncheon City, Gangwon Province), and Legoland was built on only a part of that area," emphasizing, "The issues related to GJC's bonds are actually not directly related to us." He added, "We have a very good partnership with Gangwon Province, GJC, and Chuncheon City," and expressed hope that "Legoland's success will contribute to the successful operation of Jungdo."
Lee was appointed as the third CEO of Legoland Korea in November last year. As he hopes, he faces the challenge of quickly establishing Legoland, now in its second year since opening, in the domestic market. A Legoland Korea official said, "Merlin Entertainments in the UK typically appoints foreigners as CEOs of Legoland parks worldwide," adding, "Considering the stabilization of the domestic Legoland, they chose CEO Lee, who has experience working at Merlin and a background in foreign companies." The previous CEO, Phil Roil, who served as the second CEO of Legoland Korea, was British.
CEO Lee has mainly worked at global companies such as Nike as a product manager, Pepsi-Cola as a business manager, Red Bull Korea as the head of the Korean branch, and Hear.com Korea, a foreign hearing aid company, as CEO. He also served as the head of sales and marketing for Merlin Entertainments in the Asia-Pacific region for about two years starting in 2015.
He plans to introduce changes to Legoland's operation by considering the unique European operating methods and the characteristics of domestic culture. A representative example is the introduction of night openings starting this year. CEO Lee explained, "In Europe and North America, children usually go to bed around 8 p.m., but in Korea, after finishing work and meals, children look for things to do or do homework after 8:30 p.m.," adding, "Reflecting these lifestyle differences, we decided to operate night openings so that domestic customers can enjoy the theme park and resort for a longer time." From the end of April to October, operating hours will be extended until 9 p.m. on Fridays, Saturdays, Sundays, and public holidays. Among the ten global cities with Legoland parks, Korea is the first to introduce night openings.
Ticket prices will also be frozen. CEO Lee emphasized that by launching seasonal passes that customers can choose from depending on the season and expanding partnership discount promotions, the perceived price for customers will actually decrease. The children's water playground, opening in July, will be free to use with the purchase of a Legoland ticket. Additionally, to expand related infrastructure based on criteria such as things to play, stay, and see, an investment of around 100 billion KRW over five years until 2027 is planned.
CEO Lee said, "Legoland is differentiated from other theme park competitors by focusing on 'children,'" and added, "We plan to expand programs that parents and children can watch and participate in together."
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