South Korea plans to build a nationwide Internet access infrastructure capable of speeds between 50 Mbit/s and 100 Mbit/s by 2010, the online edition of the Chosun Ilbo daily newspaper reported Tuesday.

The infrastructure will be known as the broadband convergence network (BcN) and will offer telecommunications, broadcasting and Internet access from a wide variety of devices, the paper said, quoting the Ministry of Information and Communication.

Construction of the BcN will be worth 95 trillion won (US$80.4 billion) in output of equipment and services, and will create 370,000 jobs by 2010, according to the Chosun Ilbo. Actual construction cost of the BcN is estimated at 2.1 trillion won.

South Korea is already regarded as the world's leading broadband nation, with 11.3 million broadband subscribers in a population of 48 million, and with 85 percent of new subscribers opting for broadband, according to telecommunication equipment vendor Alcatel.