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According to Yonhap News,
(JEONJU=Yonhap News) Jeonbuk-do will set up an advanced base for autonomous navigation in the Saemangeum District.
Starting next year, the province will create a foundation for fostering the development and testing of autonomous and related technologies, establish an industrial valley and foster the service industry with a total of 300 billion won over the next five years.
On April 22, the province stated the project was received well by the central government.
The province will also apply for a preliminary feasibility study project with the Ministry of Science and Technology in May.
The province stressed the importance of infrastructure to foster the autonomous automotive industry at a time of rapid global market growth, and said that Saemangeum District is the ideal location to start.
In addition, there is already a commercial vehicle factory in Gunsan and Wanju, another reason why the region should be home to the leading city for autonomous vehicles.
Upon successful completion, the province expects the project to create 20,000 new jobs and KRW 10 trillion in automotive and parts sales. Also, the province will foster 100 automotive parts companies to increase the competitiveness of automotive and parts exports.
An autonomous vehicle is a self-driven vehicle that does not require the driver to operate the steering wheel, brakes, etc., and automatically detects the optimal driving route to the destination while avoiding obstacles via sensors.
The global market for autonomous vehicles was USD 3 billion (KRW 3 trillion) in 2015, and is expected to grow to USD 96 billion (KRW 107 trillion) in 2025 and USD 290 billion (KRW 323 trillion) in 2035.
ichong@yna.co.kr
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** This article was translated from Korean.
Source: Yonhap News (Apr. 22, 2018)