Arirang News
  Updated : 2007-08-03 12:00:00 KST
Military to Buy Land for Naval Base on Jeju Next Year
 
 
The South Korean Navy said Friday that it will start purchasing land next year for the construction of a naval base on Jeju Island.
The Navy said it will complete the construction of the eco-friendly base on a 400-thousand square meter site in the southern resort island by the year 2014.
Officials said that the base, which would be able to accommodate more than 20 warships, submarines, and other naval vessels will cost about 800-billion-won or 865 million U.S. dollars.
The Navy added that the groundbreaking is expected to begin around June 2009 and that the base will create 6-thousand jobs and increase the island's income by 70 billion won, or 76 million dollars a year.
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