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S Korea: Gov to grant $208M for private-military tech cooperation

S Korea: Gov to grant $208M for private-military tech cooperation
S Korea: Gov to grant $208M for private-military tech cooperation

The government of South Korea reportedly plans to allocate ₩251 billion ($208 million) to support over 250 state-run initiatives aimed at enhancing defense systems through the integration of innovative technologies with military activities, according to the industry ministry.

The move to strengthen private-military collaborations comes at a time when the technological capabilities are becoming increasingly important, as a result of the rising dispute between the world's two greatest economies.

Korea has actively sought a strategic plan for limiting and navigating external shocks brought on by IT issues. This concept is progressively spilling over into defense and other areas of national security.

This year, 14 government agencies and ministries, along with the Defense Acquisition Program Administration (DAPA), as well as the Ministry of Trade, Industry, and Energy, have committed ₩251 billion o promote 250 initiatives, up 19.2% from the year before.

The projects, which include 47 additional tasks, are an extension of past projects, the first of which was established in 1999 to help identify a development catalyst for the economy in the private industry, as well as to boost the performance of defense capabilities.

A total of ₩191.3 billion will supposedly be invested in private-military technological development and 48.4 billion won on technology sharing programs.

Seven programs will receive funding totaling ₩37.7 billion to explore autonomous driving, virtual reality (VR), robots, as well as mixed reality technology (MR).

A total of ₩16.6 billion will be spent on eight projects to assist establish the track history necessary to demonstrate stable new technologies demand in the defense industry, which will be aided by the rapid adoption of high-tech military equipment.

Nine projects will get ₩193 billion to enhance space and satellite projectile technologies, a difficult venture that will necessitate intense, imaginative efforts.

This year, the South Korean government will set up an office under the Institute of Civil-Military Technology Cooperation (ICMTC), which is overseen by DAPA, to better promote defense technologies as well as state-run programs.

Source credit: https://www.koreatimes.co.kr/www/tech/2022/03/419_324762.html

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.