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S.Korea to Unveil 10-Year Plan to Foster Drone Industry

Written: 2017-07-18 16:42:29Updated: 2017-07-18 19:33:14

S.Korea to Unveil 10-Year Plan to Foster Drone Industry

South Korea's Ministry of Land, Infrastructure and Transport says it has a ten year plan to turn the country into a global powerhouse in the drone industry.

It reportedly is focused on improving core drone technologies and building infrastructure such as a drone highway.
 

Over the next ten years, the government wants to multiply the current drone market of 70-billion-won by a factor of sixty, into a four-point-one trillion won market.

It also aims to be within the top five globally in terms of technological competitiveness by 2026, and have the ability to commercialize 60-thousand industrial drones.
 
The global drone industry is expected to enjoy an average annual growth of 50 percent or higher to grow into a 62 billion dollar market by 2025. 

 
Details of the plan are scheduled to be announced Wednesday.
 



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