South Korea commits to an investment of 1.25 trillion won ($988 million) over the next 10 years to develop next-generation vehicles – in accordance with the country’s goal of becoming one of the world’s top three auto manufacturers by 2010. The Ministry of Commerce, Industry and Energy says its first project will be a highly energy-efficient car that can average 50 km/L (118 mpg). The ministry recruited 22 new technology development projects to turn the idea into reality. Among the 22 ...

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