NCsoft announced that they've reached an agreement with the KBO to secure an expansion team in Changwon-si. Speculation is that the team will begin play in 2013(most likely, but not confirmed) at the currently under renovation stadium in Masan.
I'm guessing that this isn't the last we've heard of KBO expansion. A nine team league would be a scheduling nightmare.
A team nickname and logo hasn't been unveiled yet. I'd put my money on the NCsoft Knights, but that doesn't sound nearly silly enough for a KBO expansion team. Keep in mind that the two "newest" teams are called the Wyverns and the Heroes.