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

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


South Korea and Israel have pledged to invest up to $5.3 million (6.6 billion won) to support the joint development of robotics technology under a new strategic collaboration project named the Lighthouse program, officials said Tuesday.

As a joint research and development project between Seoul and Jerusalem, the Lighthouse program follows revisions made to the industrial technology agreement between the two countries last year. The two sides agreed to double annual funding for their joint technology development projects to $4 million and increase the proportion of government support.

The Ministry of Trade, Industry and Energy said that this year the focus will be on robotics in the fields of logistics, agriculture, animal husbandry, personal services and Health care. The joint development projects will be extended to the areas of autonomous driving and hydrogen technologies, he added.

Unlike the previous program which supported one-on-one matchmaking between companies from each country, 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, according to the Ministry of Commerce. .

If selected by the Lighthouse program, a project may receive up to $5.3 million in intergovernmental funding or up to 66% of the total project cost over the next two to four years.

Seoul officials and the Israel Innovation Authority held a launch conference in Tel Aviv to signal the flagship program between the two countries, the ministry said, and researchers and industry workers robotics from both countries also attended the event.

“The flagship program, as the goal of the program, will be an opportunity to illuminate new industrial technology paths for both countries and accelerate innovation,” said a ministry official.

“Going forward, the governments of both countries will continue to support private R&D innovation as much as possible.

By Kan Hyeong-woo ([email protected])

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