President Kim Hak-do of the Korea Institute for Advancement of Technology (KIAT). (Photo: KIAT)

President Kim Hak-do of the Korea Institute for Advancement of Technology (KIAT) said, “KIAT will create business models that benefit Korean companies by providing comprehensive support ranging from R&D support to technology development, commercialization, marketing sales and exports.”

KIAT President Kim said in an interview with a local financial daily that KIAT will provide support for corporate job creation by solving difficulties companies suffer in the course of commercialization and strengthen economic diplomacy efforts to transfer technology expertise to such countries as Vietnam and connect it to Korean exports. Kim’s moves are designed to boost support of SMEs and mid-size superstars with industrial spill-over effects and a potential to create added values and implement win-win strategies to promote international technology collaboration that can lead to corporate exports. 

Kim set 2018’s top three tasks as: creating jobs through solving of difficulties SMEs and mid-size superstars experience in the course of technology commercialization; supporting innovative growth of new industries to cope with the 4th Industrial Revolution; and offering policy support to comply with the “New South Policy” and “New North Policy” initiatives of the President Moon Jae-in government.

The KIAT plans to support such follow-up steps as the developing of products based on R&D outcomes, market exploration and patent application. Solving woes and problems related to technology commercialization is essential for job creation. 

The institute implements “Rediscover R&D Program” designed to induce the transferring of useful public technologies to the private sector while utilizing technology licensing offices (TLO) to expand commercialization of technologies owned by universities and startup support.

Manpower required by the top five new industries, including self-driving cars and bio health, will be nurtured. This year, 2,694 expertise personnel, including master’s degree and doctorate degree holders who can be immediately dispatched to new industries, will be produced. In order to promote technology commercialization in new industries, 200 billion won will be poured as tech loans annually. 

KIAT plans to support a project for creating an environment of verifying and testing new technology products in the five new industries and test-bed for certifying their safety.

Development of Technology Platforms for Creating New Business Models

KIAT is accelerating efforts to promote international technology cooperation in line with the government’s New South Policy initiative. KIAT President Kim revealed his willingness to make the institute a promoter to not only transfer technology to emerging countries and but also help Korean SMEs export their products and equipment there. 

The institute plans to refine the specifics of technology collaboration according to each region to support corporate market diversification. 

KIAT is seeking to implement joint R&D projects to make the most of high growth potential of such countries as Vietnam and India under the New South Policy initiative, build local collaboration centers and promote personnel changes. The institute is striving to rebuild partnerships through technology collaboration in such areas as Russia under the New North Policy initiative. KIAT is expanding ways of promoting cooperation in the new and renewable energy sectors like the construction of eco-friendly energy towns in Mongolia. 

“If Korea-Eurasia Economic Union Free Trade Agreement Korea is negotiating with Russia is signed, demand for industrial technology cooperation will be on the rise, and Korea will have much room to enter Mongolia and other Central Asian countries whose economic modernization demand is high,” Kim said. 

Meanwhile, KIAT has inaugurated a super management innovation task force early this year and implemented “You First Strategy,” a customer-oriented corporate culture and job paradigm shift.

The institute has also inaugurated a corporate “doctor-in-charge” system designed to help experts visit SMEs, which have technology competiveness, but face slower growth due to lack of information and understanding of policies, and present specific diagnosis and solutions to them. 

KIAT President Kim said his institute will focus on developing platforms to build an innovative industrial technology ecosystem by creating business models which will bring practical benefits to companies beyond its R&D support.