A major new theme park and resort is being developed in South Korea.

Twentieth Century Fox World, which will be created by a partnership between Twentieth Century Fox Consumer Products and Village Roadshow's theme parks division, will be located in Busan-Jinhae Free Economic Zone in Gyeongsangnam-do Province in the south of the country.

Initial plans for Twentieth Century Fox World Korea include a theme park spanning more than 75 acres of land. This will be part of a 700 plus acre leisure resort and development that will bring to life a fully immersive entertainment experience featuring some of Fox's most recognised film and television brands.

Operating partner Village Roadshow, one of the leading independent entertainment companies in the world, joins Twentieth Century Fox as a design and development consultant, and the manager of the studio theme park.

"We are signing the agreements and moving forward with plans for our global theme park project with Twentieth Century Fox Consumer Products to develop a world-leading theme park and with Village Roadshow to operate the theme park," said Hong Joon-pyo, Governor of Gyeongsangnam-do.

"We will make every effort to successfully develop this global theme park through close cooperation with Fox and Village Roadshow.

"Once the theme park is completed, we expect more than 10 million foreign and local tourists will visit and the local economy will be boosted by creating 30,000 jobs, which is equivalent to attracting 100 manufacturing businesses."

Jeffrey Godsick, president of Twentieth Century Fox Consumer Products, added: "Korea provides a unique opportunity for an international theme park destination that will be incredibly attractive to both a thriving domestic consumer as well as a quickly growing tourist market from China, Japan and across Asia."