S. Korea unveils roadmap to nurture future car industry

By Park Sae-jin Posted : December 19, 2017, 18:05 Updated : December 19, 2017, 18:05

[Yonhap Photo]



SEOUL, Dec. 19 (Aju News) --  In an effort to gain a higher ground in the global market, South Korea's trade ministry has unveiled a new roadmap plan to support the consistent and sustainable growth of its future car industry.

At a public hearing on Tuesday, the trade ministry revealed a set of measures to help local private and public companies gain competitiveness in the global market.

A ministry official said that a common platform for autonomous vehicles would be created to provide related big data to venture firms and nurture them as a growth engine.

"Because competition in the global autonomous vehicle industry is getting fierce, it is necessary to set a new direction for related policies," the official said, adding the ministry would evaluate and decide on core technologies for sustainable growth before mapping out strategic plans.

Through the project, future cars will be categorized into electric, fuel-cell driven and autonomous, the ministry said. It would carry out a project to localize vital parts such as radar, image sensor modules and communications modules by 2021.

The ministry said it would support a project develop electric vehicle batteries with larger capacity by 2019 for a one-ton electric truck with a driving range of more than 250 kilometers (155 miles) with a full single charge.

The ministry's roadmap is similar to that of China, which embarked on the "863 EV Project" in 2001 to nurture car technology companies by investing billions of dollars over a decade. Now China has the world's largest future car market.,

 
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