South Korean media outlets are reporting on a deal that would bring a new MSG Sphere design to the Seoul region just weeks after its controversial London predecessor was rejected over suspect environmental impact assessments and local opposition.

The new 20,000-capacity venue will feature a 1.2 million LED display, the same numbers as the now-open Las Vegas counterpart. The potential satellite would be included in the city of Hanam’s K-Star World project, a mixed-use district totaling 900,000 square meters and located roughly 12 miles to the east of the capital’s Gangnam neighborhood, according to the Korea Economic Daily.

"If Hanam attracts Asia’s first MSG Sphere, it will be an opportunity for Korea’s entertainment industry to take a quantum leap in attracting huge overseas investment and tourists," Mayor Lee Hyun-Jae told the paper in August.

He was reportedly looking to remove regulatory barriers to its development after taking a meeting with a representative from the Madison Square Garden Company earlier in May. Those barriers may be about to be removed, as another report cited officials as saying that a mandatory feasibility study, licensing process, and other administrative procedures will be shortened from 42 to 21 months in order to speed its realization. 

Construction would then begin by the middle of 2025. The move aligns with MSG Company CEO James Dolan's published remarks about making a deal for a second venue with a new city after London Mayor Sadiq Khan finally called in the mercurial proposal in late November. Another potential development in Abu Dhabi has been reported to be in consideration in the past few days. 

If completed, the South Korean version will hope to reverse the commercial outcomes of the first development, which has lost a reported total of $100 million in revenues since opening in late September.