CJ Decides to Donate K-Culture Valley Arena to Gyeonggi Province... Will It Finally Resume?

Culture Valley Project Stalled at 17% Completion
Gyeonggi Province Decides to Switch to Public Development Method
CJ Agrees to Cooperate with Province Without Filing Invalidity Lawsuit

Gyeonggi Province announced on the 11th that CJ LiveCity has agreed to donate the arena (specialized performance hall) facility, which it had been developing on the K-Culture Valley project site, to the province.

On this day, CJ LiveCity applied to donate all materials related to the arena facility, including structures with a 17% completion rate and design drawings. This is expected to facilitate the smooth progress of the K-Culture Valley project.

Last month on the 5th, CJ LiveCity expressed its intention not to file a lawsuit to invalidate the termination of the K-Culture Valley project agreement and stated it would actively cooperate to normalize the project. Accordingly, Gyeonggi Province judged that all obstacles to the resumption of the K-Culture Valley project have been resolved. The province plans to proceed swiftly with the project while maintaining the original form of K-Culture Valley.

K-Culture Valley is a large-scale project investing a total of 1.8 trillion KRW (as of June 2020) to develop a K-pop specialized arena, studios, a theme park, commercial, lodging, and tourism facilities on a 326,400㎡ site in Janghang-dong, Ilsandong-gu, Goyang City.

With the overall progress rate at only 3%, the province judged that CJ LiveCity lacked the will to proceed with the project, and on June 28, it terminated the 'K-Culture Valley Project Basic Agreement' signed in May 2016 and decided to switch to a public development method.