S. Korea to invest 1.1 trillion in Level 4 self-driving technology

South Korea plans to spend 1.1 trillion won by 2027 to support 84 projects in hastening its Level 4 self-driving vehicle development while boosting related technologies.

At Level 4, the vehicle does not require human intervention, under limited conditions, in driving. It is one stage before full autonomy.

The projects are for developing vehicle convergence, information and communication, road traffic technologies, self-driving services, and the broader ecosystem of self-driving vehicles.

South Korean tech and auto companies have recently been involved in developing more advanced self-driving vehicles.

Among them are telecom operator LG Uplus Corp. and South Korean auto giant Hyundai Motor Group.

Last year, LG Uplus Corp. collaborated with Hanyang University's ACE Lab and local self-driving technology company Controlworks in developing an autonomous vehicle that can self-park using LG Uplus 5G network.

Hyundai Motor Group has commercialized Level 2 self-driving technology and is currently planning to unveil Level 3 autonomous vehicles next year, where the system can perform most of the driving although still requiring human intervention.