74 million US dollars! South Korea will invest in the development of L4 class autopilot Technology

The South Korean government said on Wednesday that it plans to invest 1 trillion and 100 billion won (US $974 million) by 2027 to speed up the development process of L4 level autopilot and promote the development of related technologies.
L4 level automatic driving means that the vehicle can complete all driving operations without human intervention in the limited road and environment, relying on the unmanned driving system.

According to the plan, South Korea will support 84 projects to develop cross-border integration of automobile industry, information and communication, road traffic technology, automatic driving service and wider self driving ecosystem.
In recent years, the main technology and automobile companies in Korea have been competing for the development of more advanced autopilot cars.
Last year, LG Uplus, a Korean telecoms operator, worked with ACE Lab of Hanyang University and Controlworks, a local autopilot technology company, to demonstrate an automatic driving car that could use LG Uplus's high-speed 5G network to automatically stop. South Korea's Hyundai Motor has also commercialized L2 class automatic driving technology. At present, it is planning to launch L3 grade automatic driving vehicle next year.