The government hopes to showcase K-pop, drama and art with a major 3.3 square kilometre complex that would house TV and film studios, stage schools, gaming facilities and entertainment.
“Our plan is to create a giant entertainment city,” South Korea culture minister Yu In-Chon told Bloomberg TV.
“The government can draw a blueprint and offer infrastructure. We think companies will follow us with investments in telecoms, Internet along with financial services.”
It would also house full-size replicas of Joseon dynasty palaces as TV and movie location backdrops.
South Korea is hosting a large-scale Hallyu festival next summer to help export Korean culture further on a global scale.