The transition team of South Korea's president-elect has asked five major local builders to consider taking part in a cross-country canal project, an official said Tuesday.
Lee Myung-bak, who won a presidential election last month by a landslide, has pledged to build a cross-country canal, consisting of 17 waterways, in a bid to cut transportation costs.
Supporters say that the move will also help boost the sluggish regional economy, but critics argue that it is not economically feasible.
"Lee recently met the heads of five major construction firms and asked them to consider whether to join the canal project after explaining its business profitability," a presidential transition team member said by telephone.
Experts say that Lee's move is part of his efforts to formulate a firmer policy on the project as early as possible.
"The waterway project would be driven by the private sector. Lee urged the builders to check profitability of the canal project based on the principle of a market economy ," the official said.