A snip from The Korea Herald:
The Korea Baseball Organization on Tuesday gave the green light to NCsoft Corps., the game developer, to begin work on founding the ninth club in the top-division baseball league in South Korea. The expansion team will be based in Changwon, South Gyeongsang Province, about 400 kilometers southeast of Seoul and could join the KBO as early as 2013.
And a snip from The Korea Times:
Besides NCsoft, two more companies threw their hats into the ring to create a new club and the game developer was the only one which met the KBO’s criteria, according to officials of the baseball organization. The two other firms have remained unidentified.
The KBO also decided on a new set of qualifications for expansion teams which include having "at least 100 billion won (US$90.5M) in net profits or record a net income to stockholder's equity ratio of more than 10 percent."
And according to the Nikkan Sports article, the league is hoping to expand to 10 teams by 2014 and move over to a 2-league format. Dong Yeol Sun appears to be the front-runner to manage the new club (which will begin with a minor league team).