Full-Scale Promotion of Digital Twin Project... Total Investment of 436.8 Billion KRW

Digital Twin and Application Areas (Examples).

[Asia Economy Reporter Kangwook Cho] This year, the core ‘Digital Twin’ project of the Korean New Deal will be fully launched. A total of 436.8 billion KRW will be invested in this project, focusing on the development of digital twin technology and the production of high-precision spatial information.

The Ministry of Land, Infrastructure and Transport announced on the 28th that it has finalized the ‘2021 National Spatial Information Policy Implementation Plan’ through the review of the National Spatial Information Committee, in accordance with the 6th National Spatial Information Policy Basic Plan (2018?2022).

The National Spatial Information Policy Implementation Plan is a statutory plan established annually under the ‘National Spatial Information Basic Act’ to ensure the execution of the basic plan.

This year’s plan includes investing 436.8 billion KRW in a total of 800 projects by central government ministries and local governments to activate spatial information production platforms.

First, 83.6 billion KRW will be invested in digital twin technology development and high-precision spatial information production and utilization projects. Investments will be expanded in digital twin-related technology development for roles as a foundation of new industries such as autonomous driving and smart construction, as well as for safe land and facility management. Focused investments will be made in producing high-precision spatial information, which serves as foundational data for digital twins, including precise road maps, integrated underground space maps, and 3D terrain maps.

2.637 trillion KRW will be invested in projects that fuse new technologies with spatial information and build high-quality spatial information necessary for preventing safety accidents.

Additionally, 133.7 billion KRW will be invested in building platforms to utilize the produced spatial information for public services and administrative tasks, and 39.4 billion KRW will be invested in spatial information construction and national support projects to support future new industries.

Nam Young-woo, Director of the Land Information Policy Bureau, said, "With the establishment of the 2021 National Spatial Information Policy Implementation Plan, government policies to strengthen the competitiveness of the spatial information industry will be systematically promoted, and it is expected to contribute to laying the foundation for fostering future new industries such as digital twins."

This content was produced with the assistance of AI translation services.