
Korea plans to select the site for an industrial city for the local robotics industry late this year to help hone its competitive edge, the government said Tuesday (Aug. 20).
A special government committee will pick the site for "Robot Land," which would be the first of its kind in the world, by November, the Ministry of Commerce, Industry and Energy said.
Construction of the site should begin in 2009.
The city, to be developed as the mecca for the country's robotics industry, will house manufacturers, parts suppliers, research centers, exhibition halls and a stadium where robots can compete in various events, the ministry said.
Ten provincial governments have submitted applications. Cost of constructing the site is estimated at about 500 billion won.
"Details on funding will be made after a site is selected, but the government may provide about 50 billion won for the building of Robot Land," said Vice Industry Minister Oh Young-ho.
Seoul considers robotics to be one of its key growth industries with the emphasis on so-called service robots that can clean homes and provide entertainment.
Korea's robotics industry ranks sixth in the world in terms of competitiveness and technology, according to the ministry.
Korea is six to seven years behind industry leader Japan in technology.
The local market has expanded at an annual rate of 30 to 40 percent for the past several years, with its size reaching 766 billion won ($812 million) in 2006.