Korean Information Service, The Korean government plans to invest 170 billion won to develop a large-sized watercraft that can cruise at a maximum speed of 250 kilometers per hour just above water, starting 2006.
It will also spend about 70 billion won to establish an Antarctic research center by 2011, in addition to the existing King Sejong Station.
The ambitious plans were endorsed on Thursday (June 23) at a meeting of science-related ministers, presided over by Science-Technology Minister Oh Myung.
To build watercraft, called wing-in-ground (WIG) vehicle with a loading capacity of 100 tons of cargoes, the government will channel 85 billion won in the project and hopes to attract as much from private companies.
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