Korea Joins in Global Race for Futuristic Cars

Samsung Economic Research Institute predicts the market for eco-friendly, efficient cars to exceed $1 trillion in 2012

Published: 12-Jan-2004

Korean carmakers have joined in global competition to develop futuristic vehicles featuring efficiency in fuel consumption and friendliness to the environment.

The race has become escalating with the global strengthening of pollution controls including the Kyoto Protocol to the United Nations Framework Convention on Climate Change in 1997. Both multinational carmakers, including Hyundai Motor, have devoted much of their investment to developing fuel-efficient cars as natural resources like petroleum are depleting at a rapid pace.

The global futuristic car market, including eco- and environmentfriendly cars, promise lucrative futures for car makers, according to the Samsung Economic Research Institute (SERI). It predicts the market to exceed $1 trillion in 2012.

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