Fasten your seat belts! When I started GGP last year, I mentioned Korea's potential for becoming a
clean technology giant. One such technology I briefly discussed was online electric vehicle technology, or OLEV. Researchers at Korea's top business and technology school, Korea Advanced Institute of Sclience and Technology (KAIST), have tested an OLEV train at an amusement park outside of Seoul.
Here's how OLEV works: magnetic strips are built under a road's surface. Equipment under an OLEV train or bus would collect such power that would then be sent to the vehicle's battery. The advantages? You do not need any overhead power wires above a street, and minimal lines under a road's surface. The KAIST researchers also claim that the batteries necessary for OLEV technology only need to be one-fifth the size used in current electric vehicles, and also eliminates the need for long periods of recharging as the process occurs during a vehicle's operation.
KAIST's president gushed that this is one of the most important technological breakthroughs of the 21st century. Let's wait a while to see how that pans out. Nevertheless, such a technology holds great promise in congested cities like Seoul. Despite an extensive subway system, Seoul still suffers from choking traffic, but the area south of the Han River has enough wide streets so that such a technology could be implemented. Meanwhile, KAIST filed 120 patents just over this technology alone. Their professors and students are busy, and we should see more compelling breakthroughs from a country that is already a telecommunications leader.
