Korea invests $M 500 in Robot City

The Ministry of Commerce, Industry and Energy annonced plans to invest in a Robot City, the first of its kind in the world. 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.

Ten provincial governments have submitted applications. Cost of constructing the site is estimated at about 500 billion won (about $M 500). The government may provide about 50 billion won for the building of Robot Land.