S. Korea to commercialize drones in urban areas by 2025

  • 4 years ago
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Drone taxis and drone delivery services could be commonplace in South Korea's cities by 2025.
This comes as the government looks to commercialize drones as a future growth engine.
Yoon Jung-min has more.
South Korea is aiming to commercialize the use of drones as part of the urban transportation system within the next five years.
In a meeting with related ministries on Thursday, finance minister Hong Nam-ki unveiled plans to commercialize drones in urban areas by 2025.
Hong said the move will be led by the private sector and backed by the government, and that early commercialization would help South Korea gain a competitive edge over global contenders such as Uber.
The government expects the global urban mobility service industry to be worth almost 600-billion U.S. dollars by 2040.
The drones will be first developed for freight services, then later for carrying passengers.
The transport ministry is currently testing key technologies used in urban air mobility services,... while the government is reviewing related safety rules and laws.
Meanwhile, the finance minister said the government will allow airlines and delivery services to deliver foreign currency directly to their customers.
Securities and card companies will also be allowed to provide currency exchange and remittance services for customers,... and the government will allow more fin-tech companies to get involved in foreign exchange services.
Following clashes between the sharing economy and traditional business models, the finance ministry also plans to start moderating such conflicts when developing new industries. The ministry will first focus on the lodging sector.
Yoon Jung-min, Arirang News.