Business and Energy Secretary Greg Clark signed the memorandum of understanding with his South Korean counterpart Minister of Trade, Industry and Energy Joo Hyung-Hwan, ensuring the two governments continue to work together to stimulate even greater UK-Korean partnerships in areas of research and innovation.
The Science, Technology and Innovation Partnership agreement, first signed in 2004, encourages joint research as well as increased university and business partnerships, and has already been instrumental in developing exciting new technologies in areas such as ICT, biotechnology and advanced materials.
Business and Energy Secretary Greg Clark said: “The UK and South Korea have a proud history of collaboration in areas such as biotechnology, energy and manufacturing and this agreement will ensure this partnership continues to grow.
“We want to maintain our position as a world leader in research, which is exactly why our upcoming industrial strategy will place science and innovation at its core, helping businesses across the UK thrive.”
Today’s announcement follows the government’s Autumn Statement commitment to invest an additional £2 billion per year for research and innovation by 2020/21 to unlock the full potential of the UK’s research base in areas such as robotics and biotechnology.
Earlier this month, Universities and Science Minister Jo Johnson announced the creation of six new £10 million research hubs that will explore and improve new manufacturing techniques across fields such as targeted biological medicines, 3D printing and composite materials.