President Moon Urges Export and Economic Boost with Future Cars

Visit to Hyundai Motor Ulsan Plant
Emphasizing Future Vehicles as Drivers of Economic Recovery

President Moon Jae-in is speaking at a meeting held under the theme "Eco-friendly Transportation, Clean and Safe" on the morning of the 30th at Hyundai Motor Company's Ulsan plant.

President Moon Jae-in's visit to Hyundai Motor Company's Ulsan plant on the 30th is seen as a demonstration of his strong commitment to innovation in future vehicles and the success of the Korean New Deal. Notably, in his policy speech on the 28th, President Moon mentioned 'economy' 43 times, emphasizing success in both quarantine and economic sectors, clearly identifying 'future vehicles' as the driving force behind economic recovery.

This on-site visit by President Moon is the seventh 'Korean New Deal' field event following the announcement of the 'Comprehensive Korean New Deal Plan,' which includes the Data Dam, green energy offshore wind power, green smart schools, smart green industrial complexes, cultural content industries, and smart cities. As the Korean New Deal, aimed at a major shift from a follower economy to a leading economy, is being actively promoted, future vehicles are a field to which President Moon pays particular attention.

Since taking office, President Moon has consistently emphasized achieving the status of a 'global No. 1 future vehicle nation.' He has visited domestic and international automobile production and export sites 11 times. Starting with the visit to Hyundai Motor's 5th plant in Chongqing, China, in February 2017, he has participated in a hydrogen autonomous vehicle test drive (February 2018), attended the future vehicle vision declaration ceremony (October 2019), and visited the eco-friendly vehicle export site at Pyeongtaek Port (January 2020).

President Moon's 'future vehicle drive' is reflected in solid indicators. Despite COVID-19, Korea minimized production gaps through quarantine measures, raising its global production ranking from 7th to 4th. Exports of eco-friendly vehicles are also surging. Hydrogen vehicles are evaluated as having world-class competitiveness in driving range and fuel cell efficiency and are being exported to the United States, the Middle East, and Europe. Regulatory improvements related to autonomous driving have also been made, such as the establishment of the world's first safety standards for partial autonomous vehicles (Level 3) in December last year.

In his policy speech, President Moon emphasized the export status of future vehicles, stating, "Exports are becoming the driving force behind our economic recovery." He said, "Despite the adverse conditions of COVID-19, exports of future vehicles until September this year increased by more than 78% for electric vehicles and more than 46% for hydrogen vehicles compared to the same period last year," naming future vehicles, along with system semiconductors and biohealth, as the three major new industries and pledging to invest 4 trillion won to enhance future industrial competitiveness.