The Ministry of Science, ICT and Future Planning (MSIP) said Wednesday that the government will invest nearly one trillion won in next-generation growth engine industries, such as 5G, self-driving cars, wearables, unmanned aerial vehicles (UAV) and intelligent robots.
In areas (e.g. 5G, mobile communications, wearables) where industrialization is taking place at high speed, the government will recalibrate laws and institutions and carry out pilot projects so as to promote new market creation by the private sector.
On the 5G front, the government plans to launch the world’s first 5G service by 2020. To that end, 101.5 billion won will be ploughed first into the PyeongChang 2017 Pre-Olympic Games.
And 51.8 billion won has been earmarked for building a real-world test environment for autonomous cars and a system for detailed road maps.The government will sink 76.8 billion won into IoT projects, with a view to growing the IoT industry into a 30 trillion won market by 2020.
