A US$200m (£114m, 165m euro) theme park is being developed in Jeju, Korea, based around the country’s myths and legends.

The Jeju Free International Development Center, working with California-based Leisure Entertainment Consultancy (LEC) plans to create a major entertainment destination in Jeju comprising three distinct zones located around a central core promenade.

The first will be the ShinHwa theme park, which will boast attractions based on Jeju, Korean and northeast Asian legends; including the To Halla and Back water rapids ride, the Flight of the Black Dragon dark ride, the Great Library of Jeju special effects theater and Song of the Sirens boat ride as well as stunt shows and live performances.

The second zone will be a studio theme park, for which negotiations are ongoing, while the third zone will offer retail, dining and entertainment options.

LEC has completed the initial phase of the masterplan and further design work is currently taking place. Work is expected to start on site in 2007 and the park is scheduled to open in 2009.

The 60-acre (24.2 hectare) scheme is expected to welcome 1.2 million visitors in its first year. Jeju, a resort island located on the southern tip of Korea, received around five million visitors in 2005.