trending Market Intelligence /marketintelligence/en/news-insights/trending/G_MrSsFQe0tHTXRtCPUFjg2 content esgSubNav
In This List

South Korea draws up 10-year road map to lead autonomous vehicle industry

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

FIFA World Cup 2022: Advertising Revenue by the Numbers


South Korea draws up 10-year road map to lead autonomous vehicle industry

South Korea's Ministry of Science and Information and Communications Technology announced a 10-year road map on developing autonomous vehicles as it aims to become a global leader in the sector by 2030, Yonhap News Agency reported.

According to the road map, the Ministry plans to focus on boosting the development of the first passenger drones, which are unmanned aerial vehicles that can transport passengers; self-driving cars; unmanned ships; and autonomous agricultural machines.

The long-term plan would be subject to the approval of the country's parliament, the report said. The ministry expects the plan to help South Korea have 10% of the global market share in the industry by 2030.

The government will reportedly spend 12 billion won in obtaining core technologies in 2018 and another 550 billion won in the following decade.

The ministry also said that it expects about 27,900 jobs to be created in the sector by 2022 and 92,000 by 2030.

As of Dec. 7, US$1 was equivalent to 1,092.07 South Korean won.