Because bicycles require no power source they'll likely never disappear, so it's only natural to envision the bike of the future, which if we're lucky will look a lot like the Full Circle concept vehicle from Korea.
Designed by Sanghyun Jeong and Jun-Tae Park, the sleek folding bike dispenses with the traditional chain and instead uses a free wheel gear, an engineering choice that makes the Full Circle bike a triumph of design simplicity. The concept was created as a part of the Seoul Cycle Design Competition 2010--you can see more of the innovative entries here.
Via DesignBoom