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Business News Live Business
AEG to build new 20,000 capacity arena in Seoul
By Andy Malt | Published on Tuesday 11 June 2019
Live music giant AEG and South Korean entertainment company CJ LiveCity are planning to collaborate on a new 20,000 capacity arena in Goyang City near Seoul.
The Seoul Metropolitan Arena will be part of the in-development CJ LiveCity entertainment complex, which aims to attract K-pop fans domestically and internationally. Located between five of South Korea’s largest cities, it is in easy reach of two international airports and will be a stop on the country’s new express train route, expected to open in 2023.
Once open, the arena will put on shows by K-pop artists and also host AEG-promoted tours by international artists.
“This collaboration combines CJ’s long-standing cultural business capabilities with AEG’s venue development and operations expertise and its global live touring and promotions capacities”, says CJ LiveCity’s CEO Michael Kim. “Seoul Metropolitan Arena, which will be designed by a leading architectural firm, is expected to be a competitive venue not only across Asia, but also globally due to performances of K-pop as well as world-renowned artists”.
He continues: “Securing qualified content based on building a world-class facility is a key success factor for the arena in CJ LiveCity. In this context, the collaboration with AEG, which is one of the world’s leading venue operators and global live music companies, will be one of the most important factors for the arena’s success”.
No pressure. AEG Asia’s President and CEO Adam Wilkes adds: “We believe that the combination of CJ LiveCity and the new Seoul Metropolitan Arena will revolutionise Korea and the region’s entertainment landscape”.
“Both AEG and CJ share a vision of Korea as a world-leading entertainment destination”, he goes on, “and we are THRILLED to work with such an innovative leader. CJ has an in-depth understanding of the Korean and Asian markets and unparalleled experience in entertainment. We believe that Seoul Metropolitan Arena will become a must play destination for world tours and look forward to breaking new ground together”.
The arena is still awaiting planning permission from local government.
