South Korean government on Wednesday unveiled a draft for the construction of the administrative town in the Yongi-Kongju area in South Chungchong Province, where 12 ministries and a number of other government agencies will be relocated by 2014.

The administrative town will span some 73 square kilometers of land. About 8,200 people currently reside in the projected area, but it will be developed into a city with a population of 300,000 by 2020.

"We selected the area considering various aspects necessary for a balanced national development, and the accessibility required for administrative offices," Kim Se-ho, deputy minister of the Ministry of Construction and Transportation (MOCT), said in a media briefing.

Ministry officials said the MOCT has implemented measures to contain real estate speculation in the area. Developing lands, establishing new buildings or renovating existing buildings will be strictly forbidden and real estate trading will be subject to government surveillance, they said.

The ministry will consult with relevant government agencies next month to finalize the plan.

According to the construction schedule, the government will begin purchasing land from December this year. Construction for government buildings will begin in the latter half of 2007 after definite construction plans are set up.

The ministry will fine-tune the schedule through public hearings and consultations with government agencies. The plan will be submitted in May for approval from President Roh Moo-hyun.

Source: Agencies