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Chungnam to Become a Mecca of Future Cars and Foster Auto Parts Industry

According to Yonhap News,

(HONGSEONG=Yonhap News) Chungnam-do Province will prepare and implement a road map to occupy the future vehicle market, such as autonomous driving cars and environment-friendly cars.

The province held a final briefing session to establish Comprehensive Development Plan for Chungnam Auto Parts Industry, on October 25 at the Provincial Office Building.

The Comprehensive Development Plan established by the Province and Chungnam Techno Park aims to revitalize the regional economy and create jobs by strengthening key technology capacity for the future vehicles. The plan includes the efforts to concentrate on developing five key technologies in terms of environment-friendly, high convenience, high safety, hyper-connectivity and high sensitivity.

They will carry out tasks specifically related to development of open platform for autonomous cars, development of 5G communications system and security system, price reduction of hydrogen cars and development of high durable key parts, and development of eco-friendly material parts for smart interior.

In addition, 10 new projects were proposed. They include establishment of R&D center for future vehicle convergence parts, hybrid convergence graduate school, and establishment of supply park complex for the globalization of Chungnam's auto parts.

They plan to spend KRW 472.9 billion for the next five years and KRW 767.2 billion in total by 2028.

The Province will take into account the opinions from the briefing session, and secure government budget for the project once the Comprehensive Plan is finalized.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (October 25, 2018)


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