The Ministry of Science and ICT announced on Friday that the country's second fourth-generation synchrotron radiation accelerator will be built in Cheongju, Chungcheongbuk-do Province.
It was chosen because the city's solid bedrock provides an extra degree of geological safety and the city is close to Seoul.
There are also many other bio-research facilities in close proximity.
Four local governments, including Chuncheon and Pohang were hoping to host the facility, and their bids were graded based on geography, potential for development and support from the local government.
Costing 820-million U.S. dollars, the facility can be used to harness electrons moving at high speeds to create energy and X-ray beams.
It can also analyze superfine materials, a process that can be used in the development of new advanced materials, displays and semiconductors, fueling growth in South Korea's biotech and life science sectors.
The accelerator can also be used to develop treatments for swine flu-- Tamiflu, and treatments for erectile dysfunction like Viagra.
"A synchrotron radiation accelerator is like a giant microscope. It analyzes the internal and external structures of the specimen."
This investment is expected to have nearly 5-and-a-half billion U.S. dollars of economic effects on production inducement and create around 140-thousand jobs.
Jang Tae-hyun, Arirang News