South Korea and Israel join forces to invest $5.3 million in robotics development

In a bid to improve the means of production, research and development, South Korea and Israel today officially announced that they will jointly invest the total sum of $5.3 million in the development of robotics. .

In recent times, the use of robots by most businesses around the world has increased productivity and the potential to bring more manufacturing production work back to developed countries.

According to an official statement released today, the countries of the duo will invest up to $5.3 million in a new strategic collaboration project called the Lighthouse program to stimulate the collaborative development of robotics technology.

The Lighthouse program, a combined research and development collaboration between Seoul and Jerusalem, follows changes made to the two nations’ industrial technology agreement last year.

The two parties agreed to increase the proportion of government support and quadruple the annual budget for their cooperative technology development initiatives to $4 million.

Earlier this year, South Korea’s Ministry of Commerce, Industry and Energy reiterated its commitment to focus on robots in logistics, agriculture, animal husbandry, personal services and health care. Therefore, cooperative development initiatives would be expanded to include autonomous driving and hydrogen technology.

According to the Department of Commerce, the Lighthouse program will require at least two participants from each country, and they must include a company and a university or research institute on both sides, unlike the previous program, which supported individual correspondence between companies. of each country.

Once selected for the program, a project could bring in up to $5.3 million in intergovernmental funding over the next two to four years, or up to 66% of the overall project cost.

As a result, Seoul officials and the Israel Innovation Authority held a kick-off conference in Tel Aviv to announce the two countries’ flagship program, attended by researchers and robotics industry personnel from both countries. .

Thus, as planned by the duo countries, the flagship program, like the objective of the program, will offer the two countries the opportunity to illuminate new industrial technological paths and stimulate innovation, while continuing to stimulate private innovation in research and development in the regions.

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