□ The Republic of Korea Institute of Ocean Science and Technology (KIOST) announcedthat it would begin in August work to reinforce soft ground on land in DongsamInnovation City in Busan, where its new office will be constructed. SambuConstruction Co. and Dong Sung Industrial Co. will carry out the project.  

□ KIOST’s new officebuilding will be constructed onland measuring 159,878㎡in Dongsam Innovation City in Yeongdo-gu, Busan. It will have a floor space of48,700㎡.  The constructionwill cost a total of 121.7 billlion won (30 billion from the government and91.7 billion won from thesale of KIOST’s existingbuilding).  

□ Thenew KIOST building has been designated as a pioneer project in the area ofenergy-saving green buildings by the Ministry of Land, Transport and MaritimeAffairs and as such, will be made into ahigh-quality, low-energy green structure. KOIST expects its new officebuilding to become a landmark of Dongsam Innovation City when completed.  

□ Theconstruction necessitates ground reinforcement since the building will be constructed on reclaimed land. The work will be completed in September,2013.  

□ KIOSTwill select the building’s design through a publiccontest to be held in May 2013 and start full constructionin September of the same year.   

□ KIOSTis currently located in Ansan, Gyeonggi-do. The organization and its 1,000employees will move to Dongsam Innovation City by the end of 2015 under thegovernment plan to relocate public organizations to provincial areas.