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Industry Report

Industry reports, briefs issued by Samsung Economic Research Institute

Strengthening Industry-Academia Collaboration

Strengthening Industry-Academia Collaboration

LIM Young-Mo

Apr. 28, 2006

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For a long time now, the Korean government has sought to promote school-industry collaboration as a means of raising corporate competitiveness and boosting regional industries. More than 30 laws, including the law on the promotion of industrial education and industry-academia cooperation, are currently in effect to aid the school-industry-government collaboration. On top of that, the Ministry of Science and Technology said in February 2006 that it would introduce a special law to provide tax exemption for collaborative activities between the industry and academia. Support for research and development programs is also increasing. In April, the Small and Medium Business Administration announced that it would provide 53 billion Won for projects involving collaboration between the industry and schools.

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