ID :
188645
Wed, 06/15/2011 - 06:17
Auther :
Shortlink :
https://oananews.org//node/188645
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S. Korea, Russia agree on US$100 mln nano engineering fund
South Korea and Russia have agreed to set up a joint US$100 million fund to enhance the global competitiveness of nanotech companies in the two countries, the government said Wednesday.
The memorandum of understanding (MOU), signed in Moscow on Tuesday, calls for both countries to invest in the fund that can help merge Russia's expertise in the basic nano technology field with South Korea's prowess in commercialization knowhow, the Ministry of Knowledge Economy said.
"Combining basic technology and knowhow to make commercially viable products is the optimum arrangement that can benefit all sides," it said.
Nanotech refers to the manipulation of materials on an atomic or molecular scale and has applications in such areas as electronics, biomaterials and energy production.
Seoul said it will invest 5.4 trillion won (US$5.0 billion) by 2020 into the nanotech field with Russia expected to allocate 4.3 trillion won by 2015.
Besides the nano agreement, the two countries signed four more MOUs outlining expanded cooperation in investment cooperation; information communication and technology research; medical devices; and international tie-ups between businesses, academia and think tanks.
The agreements were all signed on the sidelines of bilateral investment and industrial forums in the Russian capital that were follow-ups to the summit meeting held in Seoul late last year.
Knowledge Economy Minister Choi Joong-kyung led the South Korean delegation and held talks with senior Russian officials like Arkady Vladimirovich Dvorkovich, the economic advisor to Russian President Dmitry Medvedev.
The memorandum of understanding (MOU), signed in Moscow on Tuesday, calls for both countries to invest in the fund that can help merge Russia's expertise in the basic nano technology field with South Korea's prowess in commercialization knowhow, the Ministry of Knowledge Economy said.
"Combining basic technology and knowhow to make commercially viable products is the optimum arrangement that can benefit all sides," it said.
Nanotech refers to the manipulation of materials on an atomic or molecular scale and has applications in such areas as electronics, biomaterials and energy production.
Seoul said it will invest 5.4 trillion won (US$5.0 billion) by 2020 into the nanotech field with Russia expected to allocate 4.3 trillion won by 2015.
Besides the nano agreement, the two countries signed four more MOUs outlining expanded cooperation in investment cooperation; information communication and technology research; medical devices; and international tie-ups between businesses, academia and think tanks.
The agreements were all signed on the sidelines of bilateral investment and industrial forums in the Russian capital that were follow-ups to the summit meeting held in Seoul late last year.
Knowledge Economy Minister Choi Joong-kyung led the South Korean delegation and held talks with senior Russian officials like Arkady Vladimirovich Dvorkovich, the economic advisor to Russian President Dmitry Medvedev.
