Kim Ji-chan, CEO and president of LIG Nex1, gives a presentation at Goheung Naro Space Center on March 25, where he reiterated the importance of developing the so-called KPS, a Korean equivalent of GPS, at an event with President Moon Jae-in and Minister of Science and ICT Choi K-young in attendance. Kim said Korea’s satellite navigation system “heavily depends on U.S. GPS, which could lead to a panic situation when they stop providing the service” and added, "developing the country’s own [system] will lead to 60,000 jobs and generate seven trillion won [$6 billion] in economic value.”
LIG NEX1
![Kim Ji-chan, CEO and president of LIG Nex1, gives a presentation at Goheung Naro Space Center on March 25, where he reiterated the importance of developing the so-called KPS, a Korean equivalent of GPS, at an event with President Moon Jae-in and Minister of Science and ICT Choi K-young in attendance. Kim said Korea’s satellite navigation system “heavily depends on U.S. GPS, which could lead to a panic situation when they stop providing the service” and added, 'developing the country’s own [system] will lead to 60,000 jobs and generate seven trillion won [$6 billion] in economic value.” [LIG NEX1]](https://image.koreajoongangdaily.com/11108005.webp?imageId=11108005&width=960&height=640&format=jpg)
