Joint Press Release: Signing of Science, Technology and Innovation Agreement between the Republic of Korea and Canada

December 20, 2016

The Minister of Foreign Affairs of the Republic of Korea Yun Byung-se and Canada’s Ambassador to the Republic of Korea Eric Walsh, today signed the Science, Technology and Innovation Agreement.

The signing ceremony builds on the in-depth discussion by our two leaders during then Canadian Prime Minister’s visit to the Republic of Korea in March 2014 and the Korean President’s visit to Canada in September 2014, and honours their commitment to further expand our cooperation in the field of science, technology and innovation.

This Agreement sets forth the institutional framework for cooperative activities in science, technology and innovation for peaceful purposes, in fields of common interest, on the basis of equality and mutual benefit. The Agreement further elaborates cooperative activities in innovation to include commercially viable research and development, commercialization of technologies, incubation of start-ups, in addition to common cooperative activities in science and technology.

The Ministry of Science, ICT and Future Planning of the Republic of Korea and Global Affairs Canada, as Executive Agents under this Agreement, will jointly establish a Joint Committee on Science, Technology and Innovation Cooperation. The Joint Committee will hold its first meeting in 2017 to create the platform and an action plan to promote collaborative efforts.

Under this Agreement the two countries will pursue joint R&D projects in key sectors including aviation and space, environment, energy and clean technology, life sciences (medical devices), and information and communications technology. Furthermore, the two parties will share experiences and know-how on innovation policies and programs to create a strong cooperative environment for science and technology research and development and collaboration.

The Government of the Republic of Korea and the Government of Canada will continue to enhance their bilateral relationship, based on a firm strategic partnership, and seek new opportunities to expand cooperation in science, technology and innovation. /End/