Israel, Korea to fund more R&D

The Korea-Israel Industrial R&D Foundation announced on Monday that they have granted $1.5m. in funding for five projects to be undertaken by teams of Israeli and Korean technology companies.

The Korea-Israel Industrial R&D Foundation announced on Monday that they have granted $1.5 million in funding for five projects to be undertaken by teams of Israeli and Korean technology companies. KORIL was established in May 2001, initiated by a treaty between the Israeli and Korean governments. The treaty was ratified for the purpose of promoting joint industrial R&D collaborations between companies in Korea and Israel that have potential to develop commercial projects or processes.