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Korea-Finland cooperation in future industries spanning from 5G communications, AI, to big data (June 11)

- Korea-Finland MOU to jointly respond to 4th Industrial Revolution

- 6G and innovation cluster cooperation

Korea and Finland held a joint press conference and announced that the two countries will lay the foundation for expanding innovation-based cooperation and will carry out various collaboration projects in future industries such as 5G, AI, and big data.

Firstly, the MSIT and Finland’s Ministry of Economic Affairs and Employment signed an MOU to respond to the Fourth Industrial Revolution as Korea’s President paid a state visit to Finland during the visit of Koreas’s President to Finland.

The two governments will hold a Joint Committee Meeting based on this MOU and share ICT policy and discover and carry out various cooperation programs in the fields of 5G, AI, big data, and others.

Korea’s Electronics and Telecommunications Research Institute (ETRI) and Finland’s Oulu University signed an MOU to pursue cooperation and joint research in 6G telecommunications technology on June 10.

The MOU will provide opportunities to participate in both “6Genesis” of the Oulu University and “B5G” and “B6G” of ETRI.

- The two sides will hold seminars on a regular basis to share the research outcomes of B5G and B6G, which are in their initial stages, thereby building a global cooperation framework for the next-generation telecommunications.

Finland’s Espoo Marketing, which manages three innovation clusters (Espoo Innovation Garden) including the Otaniemi, Tapiola, and Keilaniemi and Korea’s Innopolis Foundation signed an MOU on June 10.

The two sides agreed to promote innovation-driven growth of companies in the innovation clusters and to explore ways for global expansion through entrepreneurial cooperation.

As their first cooperation project, the two sides will co-host a pitching day event of Korean startups and a workshop for entrepreneurial exchanges on the sidelines of the SLUSH event in November.

Also, the Korean delegation visited the Otaniemi Innovation Cluster, which has grown into the Silicon Valley of Europe based on its holistic industry-academia ecosystem.

The visit was made to find out how Finland has grown to be an innovation powerhouse in just about a decade and to diversify growth engines and explore sustainable ways to pursue innovation-led growth in Korea where large conglomerates have led the charge.

The Korean delegation looked at the role and achievements of Finland’s Aalto University and Technical Research Centre (VTT), which are the mainstay of talent cultivation and technology development in the Otaniemi Innovation Cluster. The delegation also shared the experience of starting business of ICEYE, a satellite startup that has grown in the ecosystem of industry-academia cooperation and Forethink, a Korean startup in Finland.

The delegation also introduced the joint research in 5G which Yonsei University and Aalto University have carried out, monitoring disaster sites with drones, location tracking using AI, realizing AR and VR videos.

To achieve the goal of becoming a country leading sustainable innovation, it was reaffirmed that Korea should cultivate talent and R&D in R&D special zones, through which the industry-academia collaboration is strengthened to boost startups and business growth.

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