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Self-driving car market race heats up; S Korea regulations lag behind

KOREA HERALD – South Korea is lagging behind in revising regulations to prepare for the commercialisation of autonomous vehicles compared to other major countries such as the United States (US), Germany and Japan, a Seoul-based think tank said yesterday.

The market size of autonomous, or self-driving, vehicles is expected to grow from USD7.1 billion in 2020 to USD1 trillion by 2035, a report by the Korea Economic Research Institute showed. More than half of the newly launched cars to be sold in 2030 are expected to be equipped with level three autonomous driving technology.

Level three autonomous driving means that the driver can hand over control to the vehicle, but must be ready to take over when prompted in a limited number of areas such as on the freeway.

Autonomy in vehicles is often categorised in six levels from level zero to five according to a system developed by the US-based SAE International.

South Korea’s auto giant Hyundai Motor had previously announced that it will equip Genesis G90 models with its level three autonomous driving technology, called Highway Driving Pilot.

The market size of autonomous vehicles is expected to grow from USD7.1 billion in 2020 to USD1 trillion by 2035. PHOTO: THE KOREA HERALD
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