○ The first meeting of the “K-Future Automotive Valley Innovation Task Force” was held at the Gyeonggi headquarters of the Korea Automotive Technology Institute on September 20.
○ Deemed a first step for setting a vision, mid to long-term strategies and action plans for developing the future automotive industry in Gyeonggi Province
○ Key municipal projects announced and mutually beneficial growth plans discussed with local governments, industries, academia and researchers

Gyeonggi Province has initiated the establishment of a cooperative system among local governments, industries, academia and researchers to create the K-Future Automotive Valley, an undertaking that connects major auto component company clusters in the province and Pangyo Techno Valley.

On September 20, Gyeonggi Province held the first meeting of the K-Future Automotive Valley Innovation Task Force at the Gyeonggi headquarters of the Korea Automobile Technology Institute in Siheung City. A number of specialists in related areas participated in that meeting including Kim Kyu-hong, head of the Siheung Campus of Seoul National University, Professor Yoon Il-soo of Ajou University, and Lee Young-jae, Senior Researcher of Advanced Air Mobility (AAM) at the Hyundai Motor Company. Gyeonggi-affiliated organizations including the Gyeonggido Business & Science Accelerator, the Gyeonggi Research Institute, Gyeonggi Techno Park, and the Advanced Institutes of Convergence Technology also participated, as well as 11 cities that are promoting the future car industry including Suwon, Seongnam, Hwaseong, Bucheon, Namyangju, Ansan, Pyeongtaek, Anyang, Siheung, Gwangmyeong, and Gwacheon.

Gyeonggi Province plans to build an innovation ecosystem for the K-Future Automotive Valley by linking auto component company clusters in the southwestern part of the province, such as in the cities of Ansan, Gwangmyeong, Hwaseong, and Siheung, with autonomous driving technology company clusters centered on Pangyo Techno Valley in Seongnam City. Through this initiative, it aims to develop a hub of future car manufacturing companies through the inter-regional convergence of essential technologies and innovative manufacturing processes. The province also intends to lead the industrial innovation base in the demonstration of autonomous driving technology development.

At the first meeting, Yoo Yeong-ho, head of the mobility industry policy team at the Korea Automotive Technology Institute, gave a presentation on trends in the automobile industry, the central government’s stance, and plans to develop the future automobile industry. Following that, each city shared projects that are being promoted, and participants discussed difficulties and suggestions pertaining to such matters as regulatory improvements.

Starting with the first meeting, the K-Future Automotive Valley Innovation Task Force will share basic directions for fostering the future car industry in Gyeonggi Province. It also plans to pursue joint efforts for the innovation and development of the future car industry, which is concentrated in the province, by creating an innovation ecosystem for the K-Future Automotive Valley and implementing measures to develop a hub.

Kim Gyu-sik, Gyeonggi Province’s Director General for Future Growth Policy, said, “This meeting is the first step toward developing future car-related industries in Gyeonggi Province, which has been put forward by the provincial administration as a core pledge of “nurturing the future automotive, semiconductor, and bio industries.” He added, “Through regular meetings of the K-Future Automotive Valley Innovation Task Force, we will establish Gyeonggi Province’s vision and mid- to long-term strategies while also identifying practical action plans to develop and lead an innovation ecosystem related to future vehicles.”