The Federation of Korean Industries wants to build a self-sufficient town solely devoted to business firms.

The lobbying group for the nation's conglomerates is hoping to build the envisaged city modeled after Japan's Toyota City in the metropolitan area.

The F-K-I said it submitted the construction of the business town to the government as a way to create jobs and is currently discussing the matter with the government.

But the government is reportedly negative to the idea.