According to Yonhap News,

The Seoul government will provide more than 30 billion won (US$21.2 million) for research and development (R&D) projects aimed at developing core technologies in the future mobility sector, the industry ministry said Wednesday.

The government will offer up to 34.1 billion won in support funds to some 30 R&D projects on developing eco-friendly and autonomous driving vehicle technologies, according to the Ministry of Trade, Industry and Energy.

The projects will also include developing electronic and battery control devices for hydrogen and electric vehicles and high-performance chips for software-defined vehicles, as well as artificial intelligence (AI) models for self-driving cars.

The ministry said it will work to boost the competitiveness of the Korean automotive industry amid trade uncertainties sparked by U.S. tariff measures and the global economic slowdown.


nyway@yna.co.kr

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Source: Yonhap News (June 4, 2024)