Major Korean company signs R&D agreement with Israel
Korean steel giant POSCO (Pohang Iron and Steel Company) agreed to participate in a joint Israei-Korean industrial R&D program on Sunday.Chief scientist at the Industry, Trade and Labor Ministry Dr. Eli Opper on Sunday signed a R&D cooperation agreement with POSCO CEO Chang Jeon-Yong that will facilitate the company@@@s investment in R&D projects in Israel.POSCO is the first Korean as well as first East Asian company to participate in a joint R&D agreement under the auspices of the Industrial Cooperation Authority of the Industry, Trade and Labor Ministry. Eighteen other international corporations already participate ICA administered R&D programs, including Abbott Laboratories, Intel, Oracle, IBM, General Electric, Microsoft, Deutsche Telecom, Merck, HP, and others.POSCO, the world@@@s second largest steel producer by market value was founded in 1968 as part of a joint government-private sector initiative by the South Korean government to help build a domestic steel industry in Korea to fulfill the supply finished steel to country@@@s developing shipping and automotive industries. The company reported $33 billion in global sales in the last fiscal year.ByREUTERS06/08/2025 07:57 AMByREUTERS06/08/2025 05:36 AMByMAARIV06/07/2025 02:33 PMByWALLA!06/07/2025 11:18 AMByREUTERS06/07/2025 03:25 AM
