New theme park at Incheon could attract one million annual visitors

Incheon International Airport (ICN) is set to develop an ICT based innovative theme park called ‘Smart Racing Park’, which it believes will attract around one million visitors a year when it opens in 2025.

ICN operator, Incheon International Airport Corporation (IIAC), announced the news earlier today after it signed an investment agreement with Paradise Segasammy.Co.Ltd and Monolith Incheon Park INC for the project.

The construction site for the 73,600sqm park is located at Incheon Airport International Business Complex 1 area (IBC-I), which will be built during the second phase development of Paradise City.

Monolith Incheon Park INC has pledged to invest $71 million for the development of the racing park by the end of 2024, with IIAC providing site and construction support  to ensure the smooth implementation of the ambitious project.

According to IIAC, the Smart Racing Park will be a theme park that offers an advanced ICT based experience called ‘gravity racing’ as well as various other sports and game activities.

It notes that “the main attraction, the gravity racing, is a sport entertainment which customers can enjoy the maximum driving speed 40km/h of on a vehicle developed by Monolith INC”, adding that “what makes the experience even more special is online game features, powered by the augmented reality (AR) technology”.

IIAC’s president and CEO, Kyung-Wook Kim, said: “I expect the smart racing park will not only generate new air travel demand, necessary for overcoming the current crisis, but also provide overseas and Korean tourists with the innovative entertainment only available at Incheon Airport.

“Incheon International Airport will transform itself into the art and culture hub, creating the values exceeding the functionalities as an airport, based on the differentiated contents.”

Explaining more about what the new theme park will offer, IIAC states: “The gravity racing will provide unique excitement with the speed and immersion which other types of cart racing experience cannot provide. It enables the customers to use online game items in the middle of real racing and enjoy the lap time competition with other people.

“IIAC expects it to stimulate the early recovery of tourism and air travel demand which have been contracted due to the pandemic by creating one million annual visitors generated from overseas arrival, transfer passengers and domestic travellers nearby Seoul metropolitan area once the park is operational around 2025.

“The new facility is expected to produce the synergy with the Paradise City integrated resort which has been successfully operating at IBC-I and will complete the tourism cluster of Incheon Airport, covering the area extended to IBC-I from Terminal 1 and 2.

“Monolith INC, the parent company of Monolith Incheon Park INC, is a promising start-up Korean company in theme park business and the company is recognised as an industry leader in the technology and innovation. IIAC found the company’s capability early on and developed the business potential into reality by signing the agreement.”