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New R&D labs promise know-how, jobs in Korea

Posted: 23 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:R&D labs? technological know-how? engineering jobs?

South Korea has established cooperative ties with eight companies to set up R&D centers in the country, giving the industry a major boost.

The government said the contracts include those with chipmaker Analog Devices Inc.; Toppan Photomasks, a supplier of photomask technologies; database management giant Oracle; and software professionals Aveva plc, BEA Systems Inc. and TASS B.V. It also attracted French car exhaust manufacturer Faurecia and Sigma Coatings, a supplier of corrosion-resistant products.

The Ministry of Science and Technology declined to reveal the financial details of the pacts, only saying that the fresh investments would open up job opportunities for local engineers and help the country in its bid to build up its technological know-how. The ministry is looking forward to both the central and local governments lending their support for the new facilities. "Regional administrations are expected to defray land purchase costs to a certain extent, while the central government can help pay for new engineers and provide so-called matching funds for research efforts carried out by these laboratories," a government official said.

Negotiations are underway for more R&D centers, with some to be completed by yearend, he added.




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