The Ministry of Trade, Industry and Energy announced on the 13th that it will invest approximately 500 billion won in research and development (R&D) and infrastructure to secure competitiveness in future vehicles this year. This represents an increase of 56.6 billion won compared to last year.
The Ministry of Trade, Industry and Energy will invest a total of 432.6 billion won in R&D related to autonomous driving, electric vehicles, and hydrogen vehicles this year. Of this, 64.4 billion won will be allocated for new projects. On the 14th, the first round of new R&D projects will be announced, with 38.5 billion won concentrated on 17 items and 40 detailed projects for securing core technologies in autonomous driving, supply chain improvement, and future vehicles.
The Ministry of Trade, Industry and Energy is accelerating efforts to secure technologies in the autonomous driving sector, which is crucial for future mobility competitiveness. The goal is to develop technologies that can be used fairly without accidents, driver intervention, or technological gaps through the integration of artificial intelligence (AI) technologies. Support will be provided for the development of key technologies such as AI semiconductors, autonomous driving software, and cybersecurity.
Efforts will also be made to develop technologies aimed at reducing supply chain risks. Currently, most magnets for electric vehicle motors are manufactured using imported rare earth materials. The Ministry of Trade, Industry and Energy aims to reduce risks potentially arising from supply chain issues by developing motors that lower dependency on rare earth materials.
In addition, technologies will be developed, including a battery-integrated high-speed wireless charging system, a system for simultaneous operation of two motors, technology to integrate five types of drive and power conversion components into one, development of high-output motors with more than 12 poles, and battery systems that can predict abnormal signs before battery fires and delay heat transfer for more than 20 minutes after a battery fire. Support will be provided to enhance global competitiveness through groundbreaking technological development that significantly improves safety and efficiency.
Meanwhile, 66.5 billion won will be allocated to build shared equipment for enhancing the innovation capabilities of regional parts corporations and to support prototyping for commercialization. To closely support regional parts corporations, nine new foundation building projects will be organized by region to actively foster a future vehicle industry ecosystem led by local entities.
The Ministry of Trade, Industry and Energy will conduct R&D support in two rounds this year, with the second announcement scheduled for the end of April. Detailed descriptions and forms for new projects in the future vehicle sector can be found in the government-wide integrated research support system.
A Ministry of Trade, Industry and Energy official noted, "Despite the global automotive demand slowdown last year, South Korea's automotive industry achieved more than $70 billion in exports for two consecutive years," adding, "We have made investments to respond to an uncertain trade environment, advancements in AI and autonomous driving technologies, and an emphasis on eco-friendliness."