South Korea has selected the location for a satellite launch base to be operational in 2005. The base will be built on Oenarodo Island, off Kohung in Cholla province, at a cost of $101 million. The maiden launch will be of the country's first satellite by an indigenously-developed booster. The site is part of efforts "to raise the country's global ranking in the space industry to within the top 10 by 2015".
Source: Flight International