South Korea unveiled plans to speed up the adoption of electric cars, self-driving vehicles and even flying automobiles in the coming years to help revive a sagging economy.
President Moon Jae-in said in a speech Oct. 15 that Korean companies will invest 60 trillion won ($50 billion) over the next decade into the future of transportation. The government will spend 2.2 trillion won to help develop related technology and help lay the groundwork for the infrastructure needed for things such as robocars, he said. Commercialization of fully autonomous vehicles will occur by 2027, or three years earlier than planned, he said.
