Government Invests 96.7 Billion KRW in International Industrial Technology Cooperation, 18% Increase from Previous Year

Ministry of Industry Announces '2022 Integrated Implementation Plan for International Industrial Technology Cooperation Projects'

[Asia Economy Sejong=Reporter Lee Junhyung] The government has allocated a budget of 96.7 billion KRW for the industrial technology international cooperation project, an 18% increase compared to last year.

The Ministry of Trade, Industry and Energy announced the "2022 Industrial Technology International Cooperation Project Integrated Implementation Plan," which supports joint research and development between domestic industry-academia-research sectors and excellent overseas R&D institutions.

This year, the Ministry will invest 96.7 billion KRW in the industrial technology international cooperation project. The budget was increased by 18% from last year's 81.9 billion KRW to respond to carbon neutrality and the global supply chain restructuring.

Specifically, 34.6 billion KRW was allocated for bilateral joint funding type R&D. This method involves forming a consortium with institutions from government-agreed partner countries such as China, Germany, and France, and jointly supporting R&D funds from both countries.

For multilateral joint funding type R&D, 24.9 billion KRW was allocated. Consortia are formed with member countries participating in global R&D platforms such as EUREKA, and R&D funds are provided for projects approved by these platforms. This year, Korea will newly participate in 'M-era.net,' a specialized joint research platform for materials, parts, and equipment operated by 36 countries including Germany and France.

Detailed programs by platform related to multi-party joint funding type research and development.
[Photo by Ministry of Trade, Industry and Energy]

For global demand-linked and technology introduction type R&D, which supports domestic companies' entry into global supply chains and acquisition of core technologies, 11.2 billion KRW and 3.3 billion KRW were allocated respectively. The Ministry supports follow-up technology development with global institutions when domestic companies introduce excellent overseas technologies through intellectual property (IP) acquisition.

Meanwhile, the Ministry will hold an online briefing session on the 16th for those wishing to participate in the project. Detailed information can be found on the websites of the Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of Technology.

No Geon-gi, Director of Industrial Technology Convergence Policy at the Ministry, said, "To proactively respond to carbon neutrality and digital transformation, it is necessary to strategically promote technological cooperation with excellent overseas institutions along with domestic self-development," adding, "We will actively support our companies to lead technology advancement and international standards through global R&D cooperation."

This content was produced with the assistance of AI translation services.