CJ LiveCity
Native name | CJ라이브시티 (in Korean) |
|---|---|
| Company type | Private |
| Industry | Property development, entertainment, leisure |
| Founded | 22 December 2015 |
| Headquarters | 60, Taegeuk-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Republic of Korea 19, World Cup buk-ro 56-gil, Mapo-gu, Seoul, Republic of Korea |
Key people | Kim Jin-gook(CEO) |
| Parent | CJ ENM / CJ Group |
CJ LiveCity Co., Ltd. is a live entertainment venue company in South Korea founded in 2015 with the purpose of developing and operating a music arena and mixed-use facilities for studios, commercial, and retail. It is planned to open in 2027.[1]
History
[edit]CJ LiveCity, a subsidiary of CJ ENM in the entertainment division of CJ Group, was established in 2015 when CJ Group participated in a public project initiated by Gyeonggi Province to promote the commercialization of Hallyu (the Korean Wave) tourism.[2] The company was initially named "K-Valley Co., Ltd." and changed to its current name on April 2, 2019.[3]
The groundbreaking ceremony for the Arena, its major facility, took place on October 27, 2021.[4]
However, construction of the Arena abruptly halted in April 2023. This was attributed to a sharp increase in construction costs resulting from the Russian invasion of Ukraine and the persisting effects of the pandemic, which caused a downturn in the real estate and construction sectors. As of the end of March 2023, the progress rate of the construction was at 17%.[5]
In addition to the downturn in the construction industry, CJ LiveCity has faced various external obstacles with the local authorities regarding the project agreement signed in 2015. These obstacles include delays in permit issuance, the improvement of water quality in the stream across the entire area, and most critically, the notification of the postponement of large-scale power supply by Korea Electric Power Corporation(KEPCO).[6]
In October 2023, as part of the government's support for infrastructure and industrial projects facing similar difficulties, CJ LiveCity sought mediation for the agreement in question from a committee overseeing project finance, which the Ministry of Land, Infrastructure, and Transport (MOLIT) in South Korea reinstated after a ten-year suspension.[7]
Business
[edit]CJ LiveCity
[edit]The development of CJ LiveCity is underway in the Seoul metropolitan area of Goyang-si, Gyeonggi-do, covering a total area of 326,400m2. CJ LiveCity will encompass a music arena, facilities for content experience and tourism, commercial spaces, accommodations, offices, and a waterfront park.[8]
The arena at CJ LiveCity is planned to have an indoor seating capacity of 20,000 and an outdoor space capable of accommodating over 40,000 people. Hanwha E&C, a South Korean construction company with experience in arena construction, has been entrusted with the project.[9]
Partnership
[edit]The arena is jointly operated with AEG, an American global sporting and live music entertainment company.[10][11]
AEG operates and owns more than 300 venues worldwide. Some notable venues in their portfolio include the Crypto.com Arena in the United States (formerly the Staples Center), the O2 Arena in the UK, and the Uber Arena(Mercedes-Benz Arena) in Germany. Additionally, they handle the coordination and management of world tours for global artists like Taylor Swift, the Rolling Stones, Katy Perry, Justin Bieber, and Celine Dion, as well as organizing notable festivals such as Coachella and BST Hyde Park. Their collaboration with CJ LiveCity commenced in June 2019 with the signing of their first Memorandum of Understanding (MOU).[12]
The master plan of the entire complex was designed by Foster + Partners, a renowned British architectural firm specializing in high-tech engineering architecture. Foster + Partners, founded by Pritzker Prize-winning architect Norman Foster, is well known for designing Apple's new headquarters, Apple Park (also known as Apple Campus 2), in California, USA.[13]
References
[edit]- ^ 조선비즈 (2024-02-05). "[비즈톡톡] 인스파이어에 '아레나 1호' 뺏긴 CJ라이브시티... 사업 안하나, 못하나". 조선비즈 (in Korean). Retrieved 2024-06-27.
- ^ "[닻 올린 CJ라이브시티]5년간 기다린 이재현의 꿈, CJ 미래 달렸다". 더벨뉴스 (in Korean). Retrieved 2024-06-27.
- ^ 뉴시스 (2019-04-30). "고양시 복합단지 브랜드 'CJ LiveCity'로 변경". 뉴시스 (in Korean). Retrieved 2024-06-27.
- ^ 뉴시스 (2021-10-27). "한류팬 1억 명 맞을 'CJ라이브시티 아레나 공연장' 착공". 뉴시스 (in Korean). Retrieved 2024-06-27.
- ^ "천정부지 뛴 공사비에 'CJ라이브시티 아레나' 공사 멈췄다". 데일리한국 (in Korean). 2023-05-19. Retrieved 2024-06-27.
- ^ 뉴스1 (2024-05-04). "고양시의회 "CJ라이브시티 공사 재개 촉구" 결의안 채택". 뉴스1 (in Korean). Retrieved 2024-06-27.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ "CJ라이브시티 등 멈춰선 민관PF사업, 조정안 나온다 [집슐랭]". 서울경제 (in Korean). 2023-12-21. Retrieved 2024-06-27.
- ^ "'CJ라이브시티'···사업명이야? 회사명이야?". 위클리오늘 (in Korean). 2022-04-17. Retrieved 2024-06-27.
- ^ 뉴시스 (2022-06-07). "한화건설, 'CJ라이브시티 아레나' 단독 시공". 뉴시스 (in Korean). Retrieved 2024-06-27.
- ^ "CJ, 美 AEG와 손잡고 일산 한류부지에 2만석 아레나 짓는다". 연합인포맥스 (in Korean). 2019-06-10. Retrieved 2024-06-27.
- ^ "AEG Global Partnerships". AEG Global Partnerships. Retrieved 2024-06-27.
- ^ 뉴스1 (2022-12-01). "고양시, 글로벌 기업 AEG社 유치...CJ라이브시티와 합작법인 설립 MOU". 뉴스1 (in Korean). Retrieved 2024-06-27.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ ""CJ라이브시티, 수시로 공간 변신하는 한류 문화 거점으로"". 매일경제 (in Korean). 2022-02-03. Retrieved 2024-06-27.