By Kang Hyun-kyung
Staff Reporter
In 2020, foreign investors will be invited to a southwestern waterfront city for new business opportunities, while tourists will be able to enjoy water sports near the ocean.
The Office of the Prime Minister unveiled a plan Friday for a city to be named ``Ariul'' ― a waterfront city for international business, leisure, and eco-tourism ― to be built on reclaimed land in North Jeolla Province by 2020.
The government pledged to spend 21 trillion won in total to transform the 28,300 hectare Saemangeum reclamation site into a high-end cluster city.
Some experts, however, were skeptical about the plan, questioning where the money will come from and whether improving the water quality of the area's beaches was feasible.
The city of Ariul, which means ``water city'' in Korean, is a core part of the project.
The name was chosen as it was determined that Saemanguem was difficult for foreigners to pronounce.
The prime minister's office said the new name will not only make it easier for foreign investors to pronounce, but will also conjure the image of a scenic waterfront city.
Ariul will be constructed on a 6,730 hectare site, accounting for 24 percent of the entire reclaimed land.
Under the plan, the entire area will be divided into eight sections with unique purposes ― industry, tourism, leisure, international business, eco-systems, science, research and new renewable energy.
About 20 percent of the site will be designated for agriculture for the time being as government officials say this portion of the land may attract less investment due to its location.
Of the 21 trillion won, about 3 trillion will be spent to improve water quality to the level where tourists can enjoy water sports.
The master plan came out about six months after the government unveiled an action plan last July and 19 years after the project to reclaim the land was initially conceived.
During the presidential election in 1992, then-President Kim Young-sam announced a massive development plan to gain more votes from residents in the province.
Calling the project politically motivated, environmentalists warned the reclamation of the wetlands would end up worsening water quality, kill endangered species and destroy the nearby ecosystem.
They claimed the massive project would turn out to be a lose-lose situation for the government and farmers in the southern province.
Despite their opposition, the government has had no choice but to go ahead with developing the area as reclamation had already begun.