Live Nation Entertainment chosen as preferred bidder to complete a K-pop concert arena with capacity to hold 50,000 in Goyang, just outside Seoul
US-based entertainment giant Live Nation Entertainment has come into the spotlight here after a consortium it led with Live Nation Korea was selected to complete a K-pop arena in Goyang, Gyeonggi Province, just north of Seoul.
Announcing the Live Nation consortium as the preferred bidder on Oct . 23 Gyeonggi Province Gov. Kim Dong-yeon said the goal was to restart construction of an arena that can hold between 20,000 and 50,000 people by May.
Designed for year-round use, regardless of the weather, the venue will feature top-tier technology, he said.
Founded in 2010, Live Nation Entertainment is the world's leading live entertainment company, encompassing Ticketmaster, Live Nation Concerts, Artist Nation Management and Live Nation Media/Sponsorship.
Pollstar, which operates a global database of concert tours and industry contacts, ranked Live Nation as the world's top company in ticket sales for 2024.
Its Korean operation organized shows for Oasis on Oct. 21 and rapper Travis Scott on Oct. 25, drawing 55,000 and 48,000 concertgoers, respectively.
The proposed arena is part of the K-Culture Valley project, first announced in 2016 in partnership with local entertainment conglomerate CJ. It will cover some 320,000 square meters and feature a concert arena, studios, a theme park and a range of commercial and accommodation facilities. The T2 site, home to the K-pop arena, will take up about half the area.
Despite the Seoul area struggling with a lack of major venues, the project has foundered. Construction was halted in 2023 when the province canceled an agreement with Korean firm CJ amid delays and differences over finances.
After public outcry, the city pledged to restart the project. While four companies submitted expression of interest in June, Live Nation consortium was the only one to file a tender.
The provincial government will now begin detailed negotiations with the Live Nation consortium in February to finalize the project's terms.
Attention is on whether Live Nation can succeed where local companies either failed or backed out of the bidding.
Currently, Goyang is home to the Goyang Stadium, which is part of the larger Goyang Sports Complex. Operated by the Goyang Urban Corp., it is a multi-purpose venue with over 40,000 seats that is used for football matches, concerts and other events. Blackpink held the opening concerts for its ongoing world tour at the stadium in July.
junheee@heraldcorp.com
