South Korea\'s Ministry of Science and ICT said on Wednesday it has newly selected 11 centres as leading research centres under its 2026 basic research programme. The scheme, launched in 1990, supports mid- to large-scale joint research and strengthens university collaboration and industry-academia-research links. The 11 centres span science, engineering and basic medical science. Each will receive 1.5 billion to 2.2 billion won a year for seven years.

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.