S. Korea joins Europe's research program

By Lee Joon-seung
SEOUL, June 19 (Yonhap) -- South Korea has joined a European-led research and
development (R&D) program that could promote bilateral trade and investment, the
government said Friday.

The Ministry of Knowledge Economy said it signed a partnership deal with the
38-member EUREKA network to become an associate member at its meeting in Lisbon.
South Korea is the first Asian country to join the multinational initiative.
The program, set up in 1985, aims to improve the competitiveness of members
through the promotion of market-driven collaborative R&D that can benefit
businesses, research centers and universities.
Under the deal, South Korean companies will engage in 5-10 joint R&D projects
every year with EUREKA members for the next three years. Seoul pledged to invest
56 billion won (US$44.4 million) until 2012 to help local companies take part in
such research work.
"Gaining associate member status can help industrial tie-ups that can lead to
more trade and investments," the ministry said. "Closer cooperation could help
both sides develop cutting-edge know-how in information technology, biotech and
nanotech areas.
The ministry said associate membership entails participation in key meetings and
the right to initiate individual projects and take part in the management of such
efforts.
yonngong@yna.co.kr
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