SEOUL, Feb. 27 -- A financially strapped South Korean conglomerate has asked U.S. pop star Michael Jackson to help build a theme park based on one Jackson plans in California. Officials from Ssangbang Wool Development Co. Ltd. said today that Jackson signed a memorandum of understanding last November to start talks on Neverland Asia, a theme park they hope the pop star will design and help fund.
Ssangbang Wool is a leading underwear and casual clothes maker that sought protection from creditors last October. Its development subsidiary operates the exclusive Muju ski resort in South Korea, where officials have proposed Jackson build a theme park. It would be based on a park Jackson plans at his Neverland ranch in Los Olivos, Calif. South Korea's Yonhap news agency reported Friday, 'The two sides neared an agreement on Jackson's $100 million investment in Muju, and were scheduled to sign a basic accord Thursday.' Yonhap said, 'Citing personal reasons, however, Jackson left Korea without signing the accord.' A second South Korean conglomerate, the Dong-ah Group, also courted Jackson during his visit to Seoul, showing him reclaimed land near the capital. The reclusive pop singer visited South Korea this week to attend the inauguration of President Kim Dae-jung. Kim met Jackson last year when the singer visited to inspect the Muju resort. ---
Copyright 1998 by United Press International. All rights reserved. ---