Targeting Autonomous Cars In 2027, South Korea Disburses USD 75 Million

JAKARTA - South Korea's Ministry of Industry on Sunday, June 27, said it had approved 53 projects with a budget of 85 billion won or about USD 75 million this year, related to plans for developing autonomous cars.

Targeted to be realized in 2027, the Ministry of Trade, Industry, and Energy of South Korea hopes that around 373 organizations and 3.500 experts are expected to join this research project.

Cited from the Korea Times, South Korea said the budget would be spent on developing automotive parts for autonomous cars, along with artificial intelligence software.

The announcement came in line with South Korea's previously announced plans to spend 1.09 trillion won through 2027 on such projects.

Under that vision, the Ginseng Country plans to achieve so-called Level 4 automation by 2027, where drivers are no longer required to be at the helm.

This is compared to Level 2 technology currently available in the market, where the driver has to stay focused at all times, while the car can only follow the traffic lane. While at Level 3, the driver only needs to make a limited intervention.

To complement this plan, South Korea will also make efforts to revise existing traffic regulations to accommodate self-driving cars.

As one of the leading countries in the automotive and transportation industries, South Korea continues to make various breakthroughs. One of them is the program of 1.2 million environmentally friendly public transportation in 2030.

Initiated by a transportation rental company last March, this eco-friendly movement is supported by around 111 local companies, including companies in manufacturing and finance.

"The transition of buses and taxis that are important for society to carbon-free vehicles, contributes a lot to reducing greenhouse gas emissions and aerosols that threaten the country's environment and public health", said South Korean Environment Minister Han Jeung-ae.