Spatial Information, Fostered as a Core Industry... Targeting 13 Trillion KRW in Sales by 2025

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 16th that it has finalized the '3rd Basic Plan for the Promotion of the Spatial Information Industry (2021?2025)' to foster the spatial information industry as a core foundational industry of the digital economy over the next five years.

Spatial information serves as the foundation connecting reality and virtuality in the era of the 4th Industrial Revolution, characterized by hyper-connectivity, hyper-intelligence, and hyper-convergence. Its importance is increasing rapidly amid the digital transformation of all industries and the convergence and integration of technology and information centered on the Korean New Deal.

The 3rd Basic Plan for the Promotion of the Spatial Information Industry presents strategies and tasks to achieve the goals of 13 trillion KRW in spatial information industry sales and entering the top 7 in national competitiveness in the spatial information sector by 2025.

First, more than 30 promising startup companies will be discovered annually through idea contests and technology competitions, and comprehensive support such as office space, data, and startup consulting will be provided. By 2025, a startup investment fund aiming for 5 billion KRW will be established to support the survival and long-term growth of startup companies.

Through platforms such as spatial big data analysis platforms, the provision of data analysis functions tailored to public and private demand will be expanded, and a 'Spatial Information Data Voucher' will be operated to support data purchases by startups and small and medium enterprises.

To support the creation of convergence services, private access to various types of imagery such as satellite, aerial, and drone images will be expanded, and a platform will be built to analyze fused data combining satellite information and various statistics.

Furthermore, technologies for precise, automated, and real-time collection and processing of spatial information will be developed as national research and development (R&D) projects, advancing the 'Digital Twin Land' initiative promoted as a core task of the Korean New Deal.

To cultivate talent equipped with specialized spatial information knowledge and new technology knowledge such as artificial intelligence (AI) and drones, educational infrastructure will be strengthened by establishing convergence departments, curricula, and technical qualifications.

Nam Young-woo, Director of the Land Information Policy Division at the Ministry of Land, Infrastructure and Transport, stated, "We will discover detailed practical tasks that are genuinely helpful to the industry based on the 3rd Basic Plan for the Promotion of the Spatial Information Industry," and added, "We will actively strive to ensure that the achievements of the Korean New Deal projects in the spatial information sector become visible at an early stage."