BigHit Entertainment, Naver Corp And YG Entertainment Reported To Be Building A Concert Venue Together
Recent reports revealed that BigHit Entertainment, Naver Corp, and YG Entertainment have come together on a joint project. BigHit Entertainment had invested into YG PLUS, while Naver had invested in one of BigHit Entertainment’s subsidiaries. And it seems that the three are about to further their ties together.
Reports claim that the three companies are working on a concert venue located in Uijeong-bu Rhythm City, a developing new city complex. The plot of land purchased is 22,000㎡ large. The venue will be focused on SFX (special effects) and VFX (special visual effects) technology in order to create innovative performances and concert content. The arena will be hooked up to YouTube and other platforms for live streaming as well.
The arena can be used for both live audiences and virtual audiences, a development in K-Pop since the pandemic. The plot of land is allowed for infrastructures between 4 – 7 stories.
On the other hand, the new modernized city complex located in Uijeongbu’s Sangok-dong is focusing on building culture, lifestyle, shopping, and residences. It is deemed a prime location for the three companies to build their concert venue. Reports say the concert venue is planned to finish construction in the first half of 2022.