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KORIL-RDF | The Premier R&D Engine, KORIL-RDF. Draw Your Future with Us

Our Mission & Activities

Mission and Activities

The Agreement on bilateral cooperation in private sector industrial
research and development between Korea and Israel was signed on
November 25, 1998.

The Ministry of Trade, Industry & Energy(MOTIE) of Korea and the Israel Innovation Authority (IIA), Ministry of Economy of Israel are the two Cooperating Authorities responsible for implementing this Agreement.

The objectives of the Agreement are to

  • Share experiences in national R&D policies and programs of each country
  • Promote the activities of each private sector to intensify bilateral industrial R&D cooperation
  • Facilitate the identification of specific projects or partnerships between Korean and Israeli companies that can lead
    to industrial R&D cooperation
  • Coordinate and focus suitable government resources and programs to enhance commercial relations and industrial
    cooperation including the establishment of a joint industrial R&D cooperation initiative
  • Give expression to the initiative through the establishment of an Industrial R&D Fund between Korea and Israel to
    support mutually agreed Industrial R&D Cooperation Projects between entities from the Parties, leading to
    commercialization in the global market and, in particular, the Asia Pacific region.

In accordance with the Agreement, Korea-Israel Industrial R&D Foundation was incorporated in May 2001
by the governments of Korea and Israel. KORIL-RDF supports industrial R&D projects that lead to potential
commercialization and contribute to the economic progress of the two countries; furthermore, to promote and
encourage joint industrial R&D collaborations between firms in Korea and Israel.

KORIL-RDF is charged with management of the joint R&D fund consisting of equal financial contributions by
both governments totaling USD 4 million per year. Partnerships between Israeli & Korean companies whose
joint projects are approved by KORIL-RDF are awarded grants covering up to 50% of the eligible R&D costs to
a maximum of USD 1 million. The grants are subject to re-payment, up to but not exceeding the total amount
disbursed, when commercial revenues result from products developed in these projects.

Main activities include

  • Matchmaking businesses between Korea and Israel
  • Project approval and funding to companies
  • Consultation for prospective Korean and Israeli companies for joint R&D projecs
  • Communication between Korean and Israeli government agencies
  • Events including joint technological conferences, Industrial Delegation, etc
  • Special programs
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