South Korea and France will join hands to make inroads into the self-driving car market.

The Ministry of Trade, Industry and Energy held a forum with its French counterpart in Seoul on Wednesday and agreed to invest a combined three billion won, or two-point-65 million U.S. dollars in the coming three years to develop traffic jam assistant(TJA) technology.

This technology enables a vehicle to keep a safe distance from other vehicles, maintain an appropriate speed and stay within car lanes. It is considered the key to navigating a car during extremely congested conditions.

Leading auto companies and electronic firms including Renault S.A., its South Korean unit Renault Samsung Motors, LG Electronics and Valeo S.A., a French automotive supplier, will participate in the collaborative project.