Korean government to boost R&D international collaboration

For the first time, the Korean Ministry of Trade, Industry and Energy with the Korea Institute for Advancement of Technology (KIAT) have invited international organisations to directly apply for state funding for R&D collaboration projects.

Korea is a global leader in innovation, ranking first in the Bloomberg Innovation Index (2014 – 2019). Currently, less than 3% of Korean government funded R&D efforts involve international collaboration.

The government is now offering four teams ₩1 billion or A$1.19 million of funding per year for up to three years for projects related to future technologies including 5G, 6G and autonomous driving.

The call for applications is part of the Korean government’s aim to increase international collaboration by five-fold by 2023.

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Australia Korea Business Council
PO Box 24430
Melbourne, Vic 3001 Australia
Liz Griffin – Executive Director

The Australia-Korea Business Council is the leading national body committed to strengthening the Australia-Korea economic relationship.