A memorial honoring the 5.7 million Americans who served in the Korean War will be placed on the Mall in Washington, near the Lincoln Memorial and opposite the Vietnam Memorial.

Approval of the site in Ash Woods, a grove of trees on the south side of the Reflecting Pool in front of the Lincoln Memorial, was announced Friday by Secretary of the Interior Don Hodel.A nationwide competition, similar to the one for the Vietnam Memorial, will be held for the design. The $6 million memorial will be built with private funds and Gen. Richard Stilwell, chairman of the Korean War Veterans Memorial Advisory Board has announced that $2.4 million has already been raised.