[Korea.net News, Nation, May 20 2007] Foreign labs to have access to local R&D projects

Korea will allow foreign laboratories and companies to have full access to local research and development (R&D) projects as part of its deregulation efforts, the government said Tuesday (May 20).

The Ministry for Knowledge Economy said a set of new rules will go into effect on Wednesday, allowing foreign institutes to become "equal participants" in research projects with Korean partners.

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The project, proposed on the sidelines of the talks for a free trade agreement deal that was reached last year, calls for concerted efforts by Korean and U.S. laboratories and companies to develop next-generation information technologies.

R&D is to be centered on digital convergence, software solutions, nanotech and other areas. The government has pledged to inject 6 billion won ($5.75 million) into the project this year.