Seoul, Jan 13 (IANS) South Korea’s industry ministry on Monday discussed ways to expand the country’s bilateral cooperation with Israel and Japan to develop and advance technologies in high-end sectors, such as artificial intelligence and semiconductors.
Director General for Technology Policy Je Kyung-hee held a virtual meeting with Alon Stopel, the chief scientist at Israel’s innovation ministry, to review progress in joint research projects, according to the Ministry of Trade, Industry and Energy.
The two countries established the Korea-Israel Industrial R&D Foundation in 2001, contributing a total of $8 million annually since 2022 to support collaborative projects, reports Yonhap news agency.
Currently, the foundation is funding 16 research and development projects, with plans to add seven new projects this year.
The ministry said the country’s leadership in the manufacturing industry and Israel’s competitiveness in the cybersecurity, artificial intelligence and semiconductor sectors are expected to create mutual benefits.
Je also held a separate meeting with Jingo Kikukawa, the director general for innovation and environment at Japan’s industry ministry, in person in Seoul to discuss ways to expand technological cooperation with the incoming U.S. administration.
The two officials emphasised the importance of bilateral collaboration in adapting to the rapidly evolving industrial technology landscape and pledged to make joint efforts to identify new areas of cooperation, the ministry added.
Last year, the Korea-Israel Innovation Day, which was co-hosted with the Israel Innovation Authority, discussed possible areas of cooperation with Israeli businesses. The event focused on broadening exchanges in the semiconductor and smart mobility industries.
The two countries plan to support competitive projects developed from the event through bilateral research funds.
The number of applications for joint technology projects between South Korean and Israeli businesses, which came to just seven in 2020, increased to 34 last year, reflecting the closer cooperation.