As Variety reports, the Seoul Arena was announced on Monday (4 April) by The Seoul Metropolitan Government and South Korean internet company Kakao, and will be entirely dedicated to K-pop.

The arena is expected to be finished by October 2025, and will reportedly have 18,000 seats and a capactity of 28,000 for standing performances. The Seoul Arena is also scheduled to feature a 7,000 capacity performance venue, a cinema and other commercial facilities, augmented reality and other technologies for concert livestreaming.

South Korea to build ‘The Seoul Arena,’ a dedicated arena to K-Pop, expected to open in 2025.

The arena will have 18,000 seats with a capacity of 28,000 for standing performances. It will also feature a movie theater, other commercial facilities, and incorporate AR technology. pic.twitter.com/ek5PoNirYD

— Pop Crave (@PopCrave) April 5, 2022

Kakao will reportedly be in charge of operating and maintaining the Seoul Arena for three decades years after it opens, and the venue will be owned by the city government.

Kakao board chairman Kim Seong-soo said in a press release, "Kakao is constantly thinking about what we can do to make a better world together with our society. We will thoroughly prepare various programs for revitalization so that we can further spur the global spread of K-contents and win-win with the local community."