By Kim Hyelin and Lee Jihae

President Moon Jae-in on Oct. 15 said, "Our goal is to become the leading country for future cars by 2030."

Speaking at the Future Car Industry National Vision Declaration Ceremony held at Namyang R&D Center of Hyundai Motor Group in Hwaseong, Gyeonggi-do Province, he laid out the government's three strategies to have the country lead the global market for future cars.

The first was facilitation of eco-friendly technology in the domestic market and later targeting the global market, the second was becoming the first country to complete the infrastructure such as roads necessary for self-driving cars by 2024 and the third swift development of an ecosystem catering to future vehicles. 

"First, domestic sales of electric and hydrogen vehicles should make up 33% of Korea's new vehicle sales by 2030, the highest rate in the world, and we will strive to achieve a global market share of 10%," the president said.

He also proposed setting goals that require the rolling out of a designated number of eco-friendly vehicles, installation of 15,000 rapid chargers for electric cars by 2025 and 660 hydrogen fueling stations by 2030.

President Moon announced the government's goal to commercialize self-driving vehicles will be moved up three years to 2027.

"Along with preparation of the relevant legal and institutional frameworks, we will have fully completed four key infrastructure projects by 2024: wireless communication networks between cars and roads, detailed 3D mapping, and an integrated traffic control system and road signs," he said, while pledging to strengthen security.

"Korean companies plan to invest KRW 60 trillion in the future car industry over the next decade and secure key technologies that will lead the world."

The president added, "The government will also invest KRW 2.2 trillion to develop and demonstrate components and materials of future vehicles to support corporate innovation."

***