Wednesday, May 21, 2008

[ 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.


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.

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