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SIPUD Signs MOU with Korean CUZCO Group

SIPUD Yangcheng Lake Peninsular Development Co., Ltd., a subsidiary of SIPUD Group, signed an MOU with CUZCO Group of Korea at seoul on Nov. 30 on joint development of the theme park on the peninsular.

CUZCO Group owns over 20 subsidiaries with businesses covering IT (online games), cultural entertainment (performing arts and video and film production), foods, logistics, and automotive industry, and cooperation projects in Japan, Indonesia, and China. MSC Korea, a subsidiary of CUZCO Group, has been authorized by MGM Film Co. of USA to build MGM Studio City in Inchon, Korea.

The MOU signing ceremony was attended by Sipac leaders and the chairman of CUZCO Group. The two sides agree to start the concept design and feasibility study of the theme park project in the near future and to submit the results to Sipac for endorsement.

Dec. 7, 2007

   
 
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