Paramount Movie Park Korea is a theme park and resort complex that was scheduled to open in Incheon

Incheon

The Incheon Metropolitan City is located in northwestern South Korea. The city was home to just 4,700 people when Jemulpo port was built in 1883. Today 2.76 million people live in the city, making it Korea’s third most populous city after Seoul and Busan Metropolitan City...

, South Korea

South Korea

The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...

 in 2011, however construction has yet to start.

Overview

The theme park will be based on films such as Mission: Impossible

Mission: Impossible (film)

Mission: Impossible is a 1996 action thriller directed by Brian De Palma and starring Tom Cruise. Following on from the television series of the same name, the plot follows a new agent, Ethan Hunt and his mission to uncover the mole within the CIA who has framed him for the murders of his entire...

and Lara Croft: Tomb Raider

Lara Croft: Tomb Raider

Lara Croft: Tomb Raider is a 2001 adventure thriller film adapted from the Tomb Raider video game series. Directed by Simon West and starring Angelina Jolie as Lara Croft, it was released in U.S. theaters on June 15, 2001. The film was a commercial success...

. It will be the world's first Paramount Pictures-based theme park and resort complex, with the cost of $1.5 billion. Daewoo Motor Sales

Daewoo Motor Sales

Daewoo Motor Sales is an auto sales company headquartered in Seoul, South Korea. It was established in 1991. Daewoo Motor Sales operates dealerships in South Korea which sell vehicles from SsangYong, Daewoo Bus, and Tata Daewoo Commercial Vehicle. In the past, Daewoo Motor Sales has sold vehicles...

 will fund the joint venture company while Paramount will act as its licensor and manager creative development.

The impact of the theme park will be paramount to Korea's culture and tourism. It is a fast growing and attractive market, and they are business friendly and has a sophisticated culture, best suited for this project. It is expected to attract about 5 million visitors each year, with 20 percent of which may be from overseas. It will also be a tourist attraction for visitors during the 2014 Asian Games

2014 Asian Games

The 2014 Asian Games, officially known as the XVII Asiad, is the largest sporting event in Asia governed by Olympic Council of Asia . It is scheduled to take place in Incheon, South Korea from September 19–October 4, 2014, with 36 sports set to feature in the Games.Incheon was awarded the right on...

 in Incheon.

Though Viacom owned five amusement parks

Paramount Parks

Paramount Parks was an operator of theme parks and attractions, which annually attracted about 13 million patrons. Viacom had assumed control of the company as part of its acquisition of Paramount Pictures in 1994....

 in North America (most popularly, Paramount's Kings Island

Kings Island

Kings Island is a amusement park located northeast of Cincinnati in Mason, Ohio. Opened in 1972 by Taft Broadcasting Company and now owned by Cedar Fair Entertainment Company, Kings Island is the most visited seasonal amusement park in the U.S...

), this will be the first theme park actually constructed by Paramount, while the Paramount Parks were originally KECO Entertainment

KECO Entertainment

Kings Entertainment Company owned and/or operated six theme parks around the world. The company was originally owned by Taft Broadcasting and in the mid 1980s was purchased by a few top-level executives of Taft's....

 parks which were bought and re-branded.

Though no rides have officially been announced, it's often believed that the "best" of the rides at the former Paramount Parks will make a return in one form or another. Speculation indicates a possibility that an enhanced version of The Italian Job: Stunt Track

Backlot Stunt Coaster

Backlot Stunt Coaster is a steel launched roller coaster currently open at Canada's Wonderland in Vaughan, Ontario; Kings Dominion in Doswell, Virginia; and Kings Island in Mason, Ohio.-History:The three roller coasters originally opened as Italian Job: Stunt Track at Canada's Wonderland and...

 may become the announced Mission Impossible ride, and Tomb Raider: The Ride

The Crypt (Kings Island)

The Crypt is a Giant Top Spin thrill ride located at Kings Island theme park in Ohio. Originally constructed in 2002 by then-owners Paramount Parks, the ride opened as TOMB RAIDER: The Ride, featuring numerous special effects, pre-shows, and voice-overs establishing its relation to the Paramount...

from Paramount's Kings Island may be rebuilt at the new park, though this is only speculation.