Seoul: The Seoul government has announced its plan to allocate more than 30 billion won (approximately US$21.2 million) for research and development projects focused on advancing core technologies in the future mobility sector, as stated by the industry ministry on Wednesday. The initiative is part of a broader effort to enhance the nation's automotive industry amid global economic challenges.
According to Yonhap News Agency, the Ministry of Trade, Industry and Energy will distribute up to 34.1 billion won to around 30 research and development projects. These projects aim to foster the development of eco-friendly and autonomous driving vehicle technologies. The scope of the initiative includes the creation of electronic and battery control systems for hydrogen and electric vehicles, high-performance chips for software-defined vehicles, and artificial intelligence models tailored for self-driving cars.
The ministry emphasized its commitment to strengthening the competitiveness of the Korean automotive sector in response to trade uncertainties, including those arising from U.S. tariff measures and the ongoing global economic slowdown.