Our Mission
The Agreement on bilateral cooperation on research, development, and technological
innovation between Korea and Israel was signed on November 25, 1998.
- The Ministry of Trade, Industry & Energy (MOTIE) of Korea and the Israel Innovation Authority (IIA) of Israel are the two Cooperating Authorities responsible for implementing this Agreement.
- Korea-Israel Industrial R&D Foundation (KORIL-RDF) was jointly established by the Korean Ministry of Trade, Industry & Energy (MOTIE) and the Israel Innovation Authority (IIA) in May 2001 under the Agreement on bilateral cooperation on research, development, and technological innovation between Korea and Israel.
- Our missions are to generate mutual benefit for Korea and Israel by promoting collaborative industrial R&D and to strengthen science and technology, business to business, and ultimately economic and trade relations between the two countries.
- According to the current version of the bilateral Agreement, both countries each contribute the sum of USD 4 million per year to KORIL-RDF. The objective of KORIL Fund is to support partnerships between Korean & Israeli companies and award grants up to USD 5 million per joint project.
- The grants are subject to re-payment, up to but not exceeding the total amount disbursed, when commercial revenues result from products developed in these projects.
