Strategic Projects

[Anchor Lead]

In our first story, the Korean government has announced that it has selected nine state strategic projects it says will help determine the future of the nation. We’ll take a look at some of the emerging Korean technologies and industries the government hopes to give a leg up in the coming decade.

[Pkg]

The self-driving car industry is a new growth engine which is expected to change the dynamics of the existing car market. The Korean government announced plans to invest nearly 520 million U.S. dollars in an 8-year period starting next year to develop core parts for self-driving cars, such as sensors and controllers.

[Soundbite] President Park Geun-hye : "South Korea is the world's fifth largest car producer and possesses the world's top-class semiconductor and ICT companies. Core technologies can be developed based on these advantages."

Demand for lightweight materials has been constantly growing in high-technology industries such as the aviation and future automobile sectors. This solar-powered plane was able to circumnavigate the globe thanks to energy savings made possible by lightweight materials. Korea's level of technology currently stands at just 70 percent of advanced countries, but the government has decided to invest some 437 million U.S. dollars based on the conclusion that there is sufficient potential. Plans are also in the works to focus efforts on fostering the artificial intelligence sector, with the goal of catching up to advanced countries in ten years. The government announced that it will consistently push ahead with the recently selected nine strategic state projects with a long-term scope of at least ten years.