The South Korean Ministry of Science and ICT will draft a frequency spectrum plan by the end of this year to support new industries such as electric vehicles (EVs), robotics, and urban air mobility, as reported by the Korea Herald on August 9. South Korea strictly regulates communications frequencies in the country, but this poses challenges for the development of innovative technologies that require the use of such frequencies by the private sector. For example, Hyundai Motor Group [005380:KS] expects the commercialization of its wireless charging system to be tough under previous regulations. The South Korean government has given Hyundai authorization to test wireless charging technology until January 2024. The company is now testing its wireless EV charging system at a frequency of 85kHz. Other Korean tech behemoths including Samsung Electronics [005930:KS] and Hanwha Systems [272210:KS] have also brought up the need for changes in the present frequency restrictions during a roundtable hosted by South Korea’s Ministry of Science and ICT in July.

The South Korean government is presently encouraging the growth of the EV industry, aiming to increase the proportion of ecologically friendly automobiles in the entire vehicle fleet to 30% by 2030 from the current 3%. Hyundai will also enhance investment in EV research, EV manufacturing line expansion, EV infrastructure development, and other related activities, pledging to invest KRW21tr (USD16.54bn) by 2030 to grow its EV business in South Korea.

Sources:

https://www.koreaherald.com/view.php?ud=20220809000791&np=1&mp=1

https://finance.sina.com.cn/world/gjcj/2021-04-16/doc-ikmyaawa9917018.shtml

https://auto.cctv.com/2022/05/19/ARTIfGVrhWKuxbBk92gCnZ61220519.shtml

https://cn.yna.co.kr/view/ACK20220731000300881