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South Korea and Israel Will Invest $10 Million in Smart Mobility

South Korea and Israel agreed last week to jointly invest $10 million in the development of key technologies in the smart mobility sector over three years, the Ministry of Commerce, Industry and Tourism said. Korea Energy.

The two countries have signed a Memorandum of Understanding (MoU) which provides for the joint implementation of research and development programs in the sector of intelligent mobility, including autonomous driving, electric vehicles and shipbuilding, financed with $10 million over the next three years, according to the department.

The signing ceremony took place during “Innovation Day”, the bilateral forum between South Korea and Israel organized in Tel Aviv by the South Korean Ministry of Industry and the Israel Authority. innovation to discuss cooperation in advanced technologies and explore opportunities for joint business activities, he added.

“The two countries can together become world leaders in the sector, with South Korea being a global force in the mobility sector and Israel with more than 500 research centers and start-ups in the field of vehicles of the future”, said ministry official Lee Min-woo.

South Korea and Israel signed an industrial technology cooperation agreement in 1998 and jointly spent $77 million on about 196 projects

Source: israelvalley