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AI & Enterprise

Science ministry to expand science institute-affiliated gifted schools to nurture regional talent

South Korea\'s Ministry of Science and ICT said it will launch a call for designations and conversions of science institute-affiliated gifted schools, aiming to help regional students use the education and research capabilities of science and technology institutes. The call targets seven areas without gifted schools, including Gangwon and Jeju. The ministry plans to select about three existing local high schools for conversion, with applications due Oct. 16 and final designation expected around December.

Finance

IBK Industrial Bank of Korea seeks commitment to fund for startups at regional national universities

IBK Industrial Bank of Korea is working with South Korea’s Education Ministry and nine regional national universities to support commercialisation of university-held innovative technologies and foster regional startups. The bank signed a multilateral agreement on July 28 to promote technology transfer and business development and to support the growth of university startups. It will build a cooperation framework for investment links and identifying promising local firms, and pursue matching commitments to a dedicated fund for research- and technology-based startups.

Industry

MSIT, education ministry select four national research labs with annual 10 billion won support

South Korea has selected four university-affiliated research institutes as National Research Labs (NRL 2.0) to lead basic research. The Ministry of Science and ICT and the Education Ministry said support will begin on July 1. Each lab will receive up to 10 billion won a year for up to 10 years, though 5 billion won will be provided this year for six months. Funding levels may change depending on future budgets.