(MENAFN- Saudi Press Agency)
Seoul, January 14, 2021, SPA -- South Korea will inject 1.1 trillion won (US$999 million) into projects to develop autonomous driving technologies and establish related infrastructure by 2027, government officials said Thursday, according to Yonhap.
The Ministry of Trade, Industry and Energy; the Ministry of Science and ICT; the Ministry of Land, Infrastructure and Transport; and the Korean National Police Agency said they will jointly finance the projects to push forward the commercialization of self-driving cars.
Local carmakers and auto parts makers are expected to participate in the projects to receive the government's financial support, they said.
The budget will be spent mainly on developing autonomous vehicle computing technologies and global autonomous driving standards, connecting the road traffic infrastructure with self-driving cars, according to the transport ministry.
--SPA
05:29 LOCAL TIME 02:29 GMT
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