MIGHT, SOUTH KOREA'S OSP INK MOU ON STRENGTENING TECHNOLOGY-DRIVEN COMMERCE

KUALA LUMPUR, June 24 (Bernama) -- The Malaysian Industry-Government Group for High Technology (MIGHT) and the Office of Strategic Research and Development Planning (OSP) inked a memorandum of understanding (MoU) to collaborate on strengthening technology-driven commerce based on collaborative value technologies. 

OSP is a non-profit organisation under South Korea’s Ministry of Trade, Industry and Energy that promotes industrial technological innovation, including the discovery of future industrial growth engine areas and core technologies.

In a joint statement today, the Ministry of Science, Technology, and Innovation (MOSTI) and MIGHT said the proposed collaboration would run for three years in areas of high value and strategic significance to both nations.

bootstrap slideshow

They said the collaboration is supported by the Malaysia Science Endowment, an initiative by MOSTI and the Academy of Sciences Malaysia (ASM) to sustain the national research and development funding.

“This includes the semiconductor and electronics industry, biotechnology and pharmaceutical industry, smart manufacturing and automation; electric vehicles (EV) and battery technology; artificial intelligence (AI), data analytics, and renewable energy and green technology.

“The collaboration also involved technology policy and strategy planning; research and development performance analysis, space and aerospace, and rail industry,” they said.

bootstrap slideshow

The statement said the partnership will be instrumental in driving Malaysia’s aspiration towards achieving a high-tech nation status through the advancement of science, technology, innovation and economy for societal well-being and sustainable development. 

“South Korea’s experience serves as a valuable benchmark in the various elements of science and technology development, including R&D funding and coordination strategies, among others.

“Both parties look forward to the positive value creation resulting from the exercise, established on the basis of equality and mutual benefit towards industry and innovation deepening, including the potential establishment of business-to-business project agreements,” it added.

-- BERNAMA