The South Korean government said Thursday that it has authorized the sale and use of the country's indigenous radar system that can pinpoint the location of aircraft by up to 12 times faster than conventional tracking systems.

The Ministry of Land, Infrastructure and Transport said the new Automatic Dependent Surveillance Broadcast (ADS-B) system has met all the requirements under aviation safety regulations.

Unlike conventional radar systems, which can check the location of aircraft every 5 to 12 seconds, the new ADS-B system automatically checks the exact location of aircraft every second, according to the ministry.

The new aircraft tracking system also costs only about 3 million won (US$2,700) while conventional radar systems cost up to 10 billion won ($9 million), the ministry said earlier.

The new device was developed jointly by the state-run Korea Aerospace Research Institute and Asia-Pacific Aerospace Inc.

The ministry said the new system will soon make its way into the global market, worth about $3.6 billion per year. (Yonhap)