The government plans to develop by 2012 a new-concept ubiquitous and ecological city, dubbed the U-Eco City, with an initial investment around 143 billion won.

The plan to build the high-tech futuristic town was finalized Thursday in a meeting of science-related ministers chaired by Science and Technology Minister Kim Woo-sik.

Under the plan, the government will advance information and bio technologies as the key to building the model U-Eco City. The targeted technologies will undergo test trials in one of the planned new cities before the commercialization and launch of the U-Eco project.

The project management agency and chairman will be selected in August with a view to launching research by year's end.