The Korean government will establish a ministerial channel with the German government to strengthen industrial cooperation in the field of material and components.
Minister of Trade, Industry and Energy Sung Yun-mo met with Peter Altmaier, federal minister for economic affairs and energy of Germany on Dec. 10. Both agreed to pursue cooperation in material and parts between Korea and Germany.
The two countries agreed to set up a Korean-German ministerial industrial cooperation channel as they shared the view that a comprehensive and institutional foundation for industrial cooperation was needed, in particular, in material and parts. They will sign a letter of intent for cooperation soon.
The two countries plan to cooperate in the development and commercialization of material and components through a high-level channel and jointly pursue medium-sized to large R&D projects.
In addition, the Korea Electronics Technology Institute and Germany’s Fraunhofer, Europe's largest applied technology research institute, signed an MOU on cooperation in material and parts and decided to pursue R&D projects in the display sector beginning next year.
The two countries plan to establish the Korea-Germany Material and Parts Technology Cooperation Center in Germany in 2020 to support technology transfers and commercialization between Korean and German companies. The Second Korea-German Standard Cooperation Talks will be held in Germany in the same year for cooperation in the international standardization of material and parts, they said.