Korea and Czech Republic to Promote Joint R&D in Advanced Technology... Discuss Establishment of 'Industrial Cooperation Foundation'

Korea-Czech Industrial and Energy Tech Forum

The governments of Korea and the Czech Republic have decided to engage in joint research and development (R&D) on advanced technologies.

On the 20th, the Ministry of Trade, Industry and Energy announced that it held the 'Korea-Czech Industrial and Energy Tech Forum,' a technology cooperation matching event, in Prague, Czech Republic.

An official from the Ministry of Trade, Industry and Energy explained, "The Czech Republic is a technological powerhouse with world-class competitiveness in certain manufacturing sectors such as precision machinery, optics, and nanomaterials. This forum aims to leverage the Czech Republic's strengths and strengthen advanced technology cooperation between Korea and the Czech Republic."

Anduk Geun, Minister of Trade, Industry and Energy, is delivering a greeting at the 'Korea-Czech Industry and Energy Tech Forum' held on the 20th (local time) at The President Hotel in Prague, Czech Republic.

At this forum, more than 40 excellent research institutions from the Czech side, including the Czech Technical University and the Czech Academy of Sciences, participated. On the Korean side, numerous industry-academia-research entities such as the Korea Institute of Photonics Technology, Hyundai Motor Company, and Sungkyunkwan University showed interest in technological cooperation between the two countries. Additionally, 12 memorandums of understanding (MOUs) were signed to discover specific technology cooperation projects in various fields such as advanced robotics, laser light sources, and hydrogen, and the Ministry of Trade, Industry and Energy expects that substantial technology exchanges and cooperation will begin in earnest following this forum.

Specifically, in existing cooperation fields such as precision machinery and optics, there are plans to actively discover medium- to large-scale R&D projects to create impactful outcomes. Korean master's and doctoral researchers will be dispatched to excellent Czech universities to support active technology exchanges and joint research among innovative talents from both countries. To this end, the Ministry of Trade, Industry and Energy has decided to support 70 billion KRW for joint R&D between Korea and the Czech Republic in the future. Furthermore, to establish a stable foundation for technology cooperation among industry, academia, and research institutes of both countries, plans to establish the 'Korea-Czech Industrial Cooperation Foundation (tentative name)' will also be discussed.

Minister An Deok-geun of the Ministry of Trade, Industry and Energy stated, "Until now, our companies such as Hyundai Motor and Nexen Tire have focused on investments centered on local production and market development, but this state visit has created an opportunity for the two countries to actively engage in advanced technology cooperation. We will continue to discover impactful technology cooperation projects through this tech forum and actively support open innovation by our companies."