The Korea Industrial Technology Association has held a foundation convention of the “Foreign R&D Executives Council (FORDEC)”with about 50 officials related with the FORDEC and R&D fields, at the Novotel, on Dec. 17 (Wed). FORDEC plans to break bottlenecks in foreign investment and support network activities. 

The ‘Foreign R&D Executives Council’ is a consultative organization of officials from foreign investment who are deeply related with research activities in the foreign investment in Korea. Wide range of projects including proposing policies for solving R&D difficulties, introducing and also exchanging management theories of advanced technology and other projects are expected to be steered by FORDEC. 

(Middle omitted) 

As a part of establishing the Northeastern R&D hub, the Korean government is making efforts on inviting overseas R&D centers to Korea. A plan to expand foreign company research centers from the current 134 (based on Oct. 2003) to 300 within 5 years is undergoing process. The government is expected to support the establishment of the consultative organization. 

Source: Ministry of Science and Technology, December 16, 2003