This spectacular proposed South Korean super-city will cost $275 billion

In an effort to boost its tourism industry, South Korea is considering a project that would see the construction of a $275 billion mega-city built on the islands of Yongyu-Muui in the port city of Incheon, next to Incheon International Airport. Called 8City, the attraction is expected to create 930,000 new jobs and attract 134 million tourists (mostly from China). But given the cost, it's an open question as to whether it will ever get built.

Plans for the 'tourist city' include luxury hotels, condominiums, casinos, shopping malls, a theme park and water park, a Formula One racing track, a 50,000-seat concert hall, a medical tourism-based "healing town" and a "hallyu town" showcasing Korean entertainment.

This spectacular proposed South Korean super-city will cost $275 billion

8City will also feature a series of landmarks, including the Inner Circle — a "smart" tubular 14 km (8.6 mile) building along the coast — and the Megastrip, a 200 meter (656 feet) high, 880 meters (2,887 feet) wide, and 3.3 kilometer (2 mile) long structure that would make it the world's largest architectural object.

This spectacular proposed South Korean super-city will cost $275 billion

The gross surface area of the Megastrip will be 4.85 square kilometers (1.9 mi2) and will feature hotels, offices, shopping and other tourist attractions. The entire city itself will occupy 80 square kilometers (30 mi2)

Well, that's assuming the mega-city will ever get built. The developers hope to get funding from the city in conjunction with foreign and domestic investors. If all goes as planned, the first stage of development will be completed in 2020, with a projected end date of 2030.

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