Korean Times Square

[Anchor Lead]

New York’s Times Square is known for its extravagant electronic screens flashing with wall-to-wall advertisements. Developers say the area around COEX in Seoul will soon be transformed into a Korean version of Times Square.

[Pkg]

Some consider Times Square in New York the most bustling place in the world. What first catches the eye of many are the gigantic screens projecting advertisements all over the square. Piccadilly Circus in London also emerged as a prime tourist spot thanks to advertisement boards. There are no regulations with regard to the size and location of advertisement screens. Starting next year, advertisement screens will be permitted in Seoul's COEX area, which is visited by one million people daily. The 70,000 square meter area will be transformed into a haven of large flashing advertisement screens. Eleven advertisement screens, including the largest screen in the nation measuring 80 meters long, will be installed in the area. As early as in the middle of next year, commercial advertisements and public announcements will be installed in the COEX area.

[Soundbite] Ki Yeo-hoon (Gyeonggi-do Resident) : "Many foreigners will probably visit this area. There is also a subway station right here, so many people will come here."

The idea is to turn the COEX area into a Korean version of Times Square and promote it as one of Seoul's landmarks.

[Soundbite] Shim Deok-seop(Ministry of the Interior) : "I think it's going to become a hot spot. It will attract a large number of foreigners."

The government is also considering easing regulations on installing advertisement screens in other areas as well.