The project will be piloted this year to support joint technology development between RoK businesses and leading firms, universities and research institutes in ASEAN countries.

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It will focus on 12 technological fields of cooperation with ASEAN approved by the RoK government, including electric motorbikes, smart livestock breeding based on artificial intelligence and smart LED street lights, among others.

Firms selected to participate in the project will receive an assistance worth 1 billion KRW (884,300 USD) for three years to conduct joint research and technology transfer with ASEAN partners.

ASEAN and the RoK agreed to set up an industrial innovation agency at a summit held in November 2019.

Information on the project and registration process can be found at portals of the RoK Ministry at www.motie.go.kr and the Korea Institute for Advancement Technology at www.kiat.or.kr.

Source: VNA