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Overview

Goal

ITS International Business Assistance Center was established to systematically support ITS export of our companies including identification of overseas ITS project, information gathering and marketing

Background

  • - Global ITS market has shown high growth rate of 12.7% on annual average with growing social demand for a faster, safer, and more convenient transportation
  • - The ITS market size is expected to grow by 12.7% on annual average by 2024 to reach 57.45 billion dollars
  • - Korean companies face limitation due to lack of overseas business capability such as advertisement and lack of project information even though they possess high level technology
  • - In particular, ITS companies possess world-class service in BIS and transportation card service, but they face obstacles in overseas business activities as most of the ITS companies are small and medium sized.
  • Global Industry Analysts.Inc  2007
  • Transparency Market Research  2012

Legal Ground

Legal Ground

National Transport System Efficiency ActArticle 89 (Encouragement of Private Participation and Advancement into Overseas Markets)

④ The Minister of Land, Infrastructure and Transport may designate and run an agency dedicated to support work under Article 89.3 above according to the Presidential Decree to support international cooperation and overseas market entry of industry related to intelligent transport systems.

Enforcement Decree of the National Transport System Efficiency ActArticle 81 (Support for International Cooperation and Advancement into Overseas Markets)

② The agency or group designated by the minister of the Land, Infrastructure and Transport is a dedicated agency in charge of supporting international cooperation and advancement into overseas markets of industry related to intelligent transport systems under Article 89.4 of the Act (hereinafter referred to as "agency dedicated to international cooperation of intelligent transport systems) shall satisfy all of the following criteria.

Notice on the Designation of Agency Dedicated to Export Support for Intelligent Transport Systems (ITS)Ministry of Land, Infrastructure and Transport Notice No.2015-540 (Jul. 23, 2015)

Designation of agency dedicated to international cooperation of ITS

  • 1. Name of the designated agency
  • - Intelligent Transport Society of Korea
  • 2. Major activities
  • - Collect and analyze information and data related to overseas markets of ITS related industries
  • - Promote ITS related industries and establish international network
  • - Establish the strategy for international cooperation and entry into overseas markets for ITS related industries
  • - Conduct research and provide policy advice on the promotion of international cooperation and entry into overseas market for ITS related industries
  • - Handle other works that are recognized to be necessary by the minister of Land, Infrastructure and Transport to promote the international cooperation and entry into overseas markets for the ITS related industries