S Korea to develop jumbo 'flying ship' by 2012

---

SEOUL, Sept 27 (AFP): South Korea said today it planned to develop a "flying ship" capable of carrying 100 tons of cargo at a cruising speed of up to 300 kilometres per hour.
The 300-ton "wing-in-ground" (WIG) craft is expected to be built by 2012 and cruise at 250 to 300 kilometres per hour, government policymakers at a science ministers' meeting said.
The craft will be 77 metres long and 65 metres wide, and is designed to benefit from the powerful natural lift achieved by objects travelling at high speed close to the water surface.
The ministry of maritime affairs and fisheries, which is supporting the project, said the government planned to spend 84.5 billion won (91.7 million dollars) over the next five years on research and development.
The private sector, including main contractor Daewoo Shipbuilding and Marine Engineering Co, will spend another 85.5 billion won, Yonhap news agency reported.
The ministry said new laws and regulations were being written to cater for WIG craft and training courses were being set up for operators.
"Once the craft is successfully launched, we expect it to add one trillion won to the overall national economy every year and boost employment opportunities," said a ministry official quoted by Yonhap.
South Korea began designing WIG craft in 1995, testing prototypes in 2001 and in July this year.
Russia, China, the United States and Japan have also started developing WIG ships for civilian and military purposes.
The maritime ministry said South Korea could win 20 per cent of the WIG market by 2015, potentially rising to 30 per cent by 2025. The country is already the world's largest builder of conventional ships.