The government plans to launch active efforts next month to build large ships that can fly above the ocean surface at 300 kilometers per hour.

Seoul approved a project Thursday to build the so-called “wing-in-ground” (WIG) craft as a next-generation transport that is faster than existing vessels and less expensive than airplanes.

The development of WIG ships, which can carry 100 tons of cargo over water at a cruising speed of 250 to 300 kilometers per hour, has been a key national research project.

The project's main contractor, Daewoo Shipbuilding and Marine Engineering, will spend 20 billion won over the next five years to develop the craft.

The government also plans to set up a company next month to support the project and to establish related infrastructure.

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