Posted December. 01, 2009 08:24,
An international science business belt will be built in the administrative district to be set up in South Chungcheong Province called Sejong City, the private-public joint committee on the project said yesterday.
In its third meeting chaired by joint chairman and Gachon University of Medicine and Science President Song Seok-gu at the Central Government Complex downtown Seoul, the committee said it will propose the building of the belt after discussion.
The committee received a briefing on plans to strengthen Sejong Citys self-sufficiency and develop an international science business belt from the Korean Research Institute for Human Settlements, and analysis on moving government functions to the city from the Korea Institute of Public Administration.
The human settlements institute said Sejong City is a suitable home for the belt because of its land sufficiency, regional development, talent recruiting and accessibility. The think tank based its conclusion after analysis of the German city of Dresden and Research Triangle Park of the U.S.
The estimated cost of the belt spanning two square kilometers is 3.55 trillion won (three billion U.S. dollars). The belt will house a basic science think tank and an ion accelerator.
Committee members, however, failed to reach an agreement on moving government functions at the meeting.