Ministry of Land, Infrastructure and Transport Hosts Transportation Data Utilization Contest... Grand Prize 5 Million KRW

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 30th that it will hold the "9th Transportation Data Utilization Contest" to discover new transportation services through the creative ideas of the public.

Anyone can participate in this contest. Detailed participation methods and the schedule can be found on the official Facebook page.

The Ministry of Land, Infrastructure and Transport will open transportation volume, speed, operation records, driving distance, and rest area sales data held by both public and private sectors to encourage diverse ideas. Additionally, to enhance the expertise and practicality of ideas, online and offline mentoring involving experts from various fields will be provided.

A judging committee composed of experts from industry, academia, and research institutes will select and award eight works through evaluation. The total prize money amounts to 20 million KRW, with the grand prize awarded the Minister of Land, Infrastructure and Transport Award (5 million KRW). The excellence awards (3 million KRW) and merit awards (2 million KRW) will be given by the President of Korea Expressway Corporation, the Chairman of Korea Transportation Safety Authority, and the President of Korea Transport Institute, respectively.

Awardees will have the opportunity to participate in the finals of the Pan-Government Public Data Utilization Startup Competition, and if they wish to start a business, systematic follow-up support such as various interest rate benefits and startup mentoring will be provided.

Kim Yongseok, Director of the Road Bureau at the Ministry of Land, Infrastructure and Transport, said, "While there is a strong consensus on the importance of data, the activation of data usage is still slow. We hope that many people will participate in this contest and that it will serve as an opportunity to revitalize the data economy."