South Korea, Israel sign agreements in high tech

ANKARA

South Korea and Israel on Wednesday signed $18 million joint investment agreements in robot and other high-tech fields.

The two countries signed several agreements in next-generation technologies during a business event in the capital Seoul, South Korea's Yonhap News reported, citing a statement issued by the Industry Ministry.

The latest deal is part of the efforts to boost bilateral cooperation between the two countries, it said.

According to the news agency, South Korea's leading mobile carrier SK Telecom, and Israel's Intuition Robotics signed a $9.4 million contract to develop a robot specialized in caring for elderly citizens.

While Everybot of South Korea and Inuitive of Israel also agreed on an $8.2 million project for an AI-based robot platform.

So far, the two countries have jointly spent some $77 million on 196 projects under an industry technology cooperation agreement signed in 1998.

*Writing by Islamuddin Sajid