FKI's Corporate City Project
- A tourism-leisure corporate city planned in S.E. coastal region

The Federation of Korean Industries (FKI) formed the Southeast Coastal Tourism Leisure Corporate City Promotion Team recently to promote the construction of the projected city in consultation with CEOs of companies that will participate in the work.
The coastal leisure-tourism corporate city is part of a project pushed by the government and the South Jeolla Province to develop the southeast coastal region and the corporate city will be built on 3 to 5 million pyeong of land at the cost of 35 trillion won by 2016 by a consortium made up by a number of business firms. The projected city will have such modern facilities as leisure, recuperation, education, and medicine to cater to domestic as well as foreign tourists in Northeast Asia.
The promotion team led by such major business groups as Kumho-Asiana, Lotte, Daelim and Hanhwa groups will have its head office in the FKI building and work on preparation of papers to be submitted for an official permit to build a pilot city for the project by April 15. A number of companies are likely to join the consortium later.
The FKI, which is in charge of preparatory work for the projected city, will finish its feasibility study on the projected city by the end of this year and will form a special purpose company if the city turns out to have a good prospect along with companies, public organizations, and financial institutions.
The FKI has also been thinking along the line of building an industrial and trade corporate city, separate from a tourism-leisure corporate city jointly with provincial authorities centered on two to three areas in the country. nw