Future Vehicle Industry Development Strategy

In October 2019, the government published a national strategy for AVs (the ‘Future Vehicle Industry Development Strategy’) with the goal to reduce road-deaths by 75% in 2030. The strategy included: (1) to revamp the relevant regulatory framework as well as major roads and other related infrastructure to accommodate fully autonomous driving by 2024; and (2) to commercialise Level 4 AVs on major roads across the nation by 2027. Out of the strategy came the Promotion and Support of Commercialisation of Autonomous Vehicles Act, which came into force May 2020. The Act allows vehicles with Level 3 capabilities to operate in specific test areas.
Hyundai Motor group is focused on affordability for mass-market opportunities. It is currently developing affordable Advanced Driver-Assistance Systems (ADAS), with plans to establish a new business unit to develop hyper-connected and self-driving cars in the near future. Hyundai is investing US$35 billion over five years in electric and AV technologies, and teaming up with Russian and Israeli-based technology firms, as well as Aurora. Its partnership with Aurora hints at the company's ambition to bring fully autonomous vehicles to market by 2025 and continue to develop affordable ADAS in the meantime. Samsung is a large technology company that is a strong Eastern bloc competitor for Apple and Google. They are focused on mobile network infrastructure, including 5G and vehicle-to-everything (V2X) networks. In 2017, Samsung purchased in-car technology company Harman for US$8B. It has also developed a Digital Cockpit, which uses 5G to link vehicles with home and office spaces. In 2019, Samsung shifted its focus from pursuing full autonomy to just advancing level 2 autonomy, possibly due to economic reasons and wanting an earlier return on investment.

Country

Republic of Korea

Institution

The Government of South Korea