SEOUL, March 6 (Korea Bizwire) – South Korea will soon come up with measures to promote its leadership in the global market for drones, the government said Monday, also announcing plans to host a conference toward that end.
The one-day conference on drones will be held Friday in Seoul, involving hundreds of government officials and businesspeople, according to the Ministry of Land, Infrastructure and Transport.
The conference will include keynote speeches by experts from various countries, including Prof. Hwang In-seok from the United States’ Purdue College of Engineering.
Also at the conference, the Korea Transport Institute (KTI) and Korea Aerospace Research Institute (KARI) will reveal their joint road map for the development of the local drone industry.
“According to recent market reports, more than 30 million new drones will be produced this year, marking a 39 percent hike from the year before, while the global market is expected to grow 34.3 percent on-year to US$6 billion,” the ministry said, adding that was why most advanced countries were now competing fiercely for global market leadership.
“The ministry too is actively pursuing various policies aimed at strengthening the competitiveness of the local drone industry. And the upcoming conference seeks to provide a venue for local developers and consumers to gather and share their information,” it said in a press release.
Under the development plan currently being devised by KTI and KARI, the country will likely seek to expand its overall drone market to 1.9 trillion won (US$1.64 billion) this year, and to 2.5 trillion won by 2026.
To this end, the government will invest some 1.4 trillion won over the next decade to develop new technologies that will help expand the use of small unmanned aerial vehicles in various industrial and commercial applications, the ministry said.