World Class Aquarium to be Built in South Korea

200,000 Square Foot, $150 Million Aquarium to be Built in New Songdo City

NEW YORK and SEOUL, South Korea, May 12 /PRNewswire/ — The most modern aquarium in the world will be built in New Songdo City, South Korea, it was announced today. The New Songdo National Aquarium, with over 200,000 square feet and built at a cost of $150 million, will be the largest and most innovative aquarium in South Korea. The aquarium, to be located on the edge of New Songdo City’s Central Park, will begin construction in January 2006.

The New Songdo National Aquarium will be designed by Peter Chermayeff and his colleagues at Chermayeff, Sollogub & Poole, Inc., (CSP) the Boston, Massachusetts based designers of six of the largest and most successful aquariums in the world including the National Aquarium in Baltimore, the Osaka Aquarium, and the Oceanarium of Lisbon. Project management, programming, life support systems design, construction management and exhibit delivery and start-up will be provided by IDEA, International Design for the Environment Associates, Inc., a firm of international aquarium experts associated with CSP. IDEA is also headquartered in Boston, Massachusetts.

The New Songdo Aquarium is part of New Songdo City’s master plan, which will include fifty million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. New Songdo City is being built on 1,500 acres of reclaimed land along Incheon’s waterfront at a cost of $25 billion dollars, at the site of General MacArthur’s 1950 landing. The groundbreaking for Phase One that includes a Convention Center, Asia Trade Tower and residential housing was held in November 2004.

The New Songdo Aquarium will be a world class destination attraction, bringing substantial visitation and economic impact to the area. It will also be one of the many cultural and recreational amenities available in New Songdo City, including international schools, a world-class hospital, several museums, a large Central Park and a Jack Nicklaus golf course. New Songdo City has been designated a Free Economic Zone (FEZ), which provides significant tax incentives for corporations and residents. New Songdo City, one of the largest, mixed-use development projects ever undertaken, is being developed jointly by Gale International and POSCO E&C.

The aquarium design, applying state of the art “aquatecture,” will be a dramatic landmark structure, presenting in its interior the sights, smells and sounds of aquatic creatures from fresh water and marine habitats around the world. It will provide an immersion experience of emotional impact and a learning experience of lasting value for its visitors. The aquarium will generate major economic benefits from the millions of visitors expected, due to New Songdo’s close proximity to Seoul (40 miles) and its direct link to the Incheon International Airport via the second airport bridge, which received final approval last month.

President and CEO of Gale International, John B. Hynes, III said, “We are thrilled that one of the world’s foremost aquarium design and operations groups will join with us in the development of Korea’s largest aquarium. This facility will be one of the cornerstones of the 100-acre Central Park in New Songdo City and will further establish the city as the premier new international business center for Asia, with all of the educational and recreational amenities one would experience in all the great cities of the world.”

Peter Chermayeff, principle of CSP, stated, “This is one of the most exciting projects CSP has ever undertaken, because it is being placed in a market area as strong as Osaka’s, and because it will be a landmark centerpiece within a magnificent setting, the Central Park of a brilliantly planned, designed and developed new city. Our design group, in combination with the management group, and with Gale International and POSCO E&C as our partners, expects the New Songdo Aquarium to be our best work. We intend to make this aquarium a dramatic and innovative icon, magnet, and learning place — fully worthy of national stature in Korea.”

Gale International, headquartered in New York with offices in Boston, London and Seoul, is an arm of The Gale Company, one of the world’s largest privately held commercial real estate companies. POSCO E&C is a subsidiary of POSCO, South Korea’s giant steel company.

Chermayeff, Sollogub & Poole, Inc. is the world’s leading designer of aquariums. The firm designed the Ring of Fire Aquarium, Osaka, Japan; the Oceanarium of Lisbon, Lisbon, Portugal; the Genoa Aquarium, Genoa, Italy; the New England Aquarium, Boston, Massachusetts; the Tennessee Aquarium, Chattanooga, Tennessee, and the National Aquarium, Baltimore, Maryland. IDEA was responsible for the planning, project management and start-up management of the Genoa Aquarium, the Oceanarium of Lisbon, and the Scientific Center of Kuwait.

For additional information about New Songdo City, please access http://www.newsongdocity.com/.

For additional information about Chermayeff, Sollogub & Poole, Inc., please access http://www.csp-architects.com/.

For additional information about IDEA, please access http://www.idea-aquariums.com/.

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