According to Yonhap News,

The Ministry of Trade, Industry, and Energy (MOTIE) announced that it held a 'Global Foreign Investment Company and Public Institution Roundtable' at the Korea Electronics Technology Institute in Seongnam-si, Gyeonggi-do on May 23, where strategies to secure leading technologies in the ultra-gap sectors were discussed.

The roundtable was attended by foreign-invested companies such as Merck, Corning, HP Printing Korea, Toray Advanced Materials, and Dongwoo Fine-Chem, as well as officials from public research institutions such as the Korea Institute of Machinery and Materials and the Electronics and Telecommunications Research Institute.

During the roundtable, topics included collaboration strategies between industry, academia, and research institutions for foreign-invested company-specific R&D projects, as well as plans to attract additional global R&D centers.

According to MOTIE, the foreign-invested company-specific R&D project, which began last year, recorded a 7.3: 1 competition ratio, with ongoing inquiries from global companies and SMEs, reflecting high demand.

In this regard, MOTIE is promoting its foreign investment attraction policies, including cash support incentives and regulatory improvements, in conjunction with the foreign-invested R&D projects and strategies to attract R&D centers and global regional headquarters (HQ).

MOTIE also announced at today's meeting that it would expand the scale of new project proposals, following the additional KRW 1 billion funding confirmed through the supplementary budget for the 'Global Company Industrial Technology-linked R&D Project' approved on May 1.

Director General for Ryu Peob-min for Cross-Border Investment Policy emphasized, "The role and cooperation of public research institutions are crucial for revitalizing global foreign-invested companies' R&D," and added, "We will continue discussions with relevant departments to expand R&D projects specific for foreign-invested companies."



dkkim@yna.co.kr

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Source: Yonhap News (May 23, 2025)

** This article was translated from Korean.