A group of South Korean conglomerates have inked an agreement that will bring a multi-billion dollar Universal Studios Korea Theme Park and Resort to the country in 2014, DEADLINE HOLLYWOOD reports.

The park will include a Universal CityWalk, a championship 18-hole golf course, themed hotels, a water park, premium retail outlet and condos.

"Korea is a great business opportunity for Universal Parks & Resorts. We are excited to be working with an esteemed group of Korean corporations under the leadership of Lotte, and we are thankful for the strong support of the Korean government," said Tom Williams, Chairman and CEO, Universal Parks & Resorts.