TechnoPark, the science and technology facilitator of Economics Zones World, a Dubai World company, has signed an agreement with a top South Korean techno institution, Daejeon TechnoPark, located in the Metropolitan city of Daejeon.

The deal comes close on the heels of TechnoPark's recent collaboration with South Korean research and development district Daedeok Innopolis.

The agreement was signed by Dr Samir Hamrouni, senior advisor, TechnoPark and Lee Jin Ok, president of Daejeon TechnoPark.

Under the agreement, the two parties will work together to promote joint projects, international research internships and co-operative networking among research institutes and businesses in both areas.

The deal facilitates exchange of science, technology and co-operation in information technology, bio-technology and new and renewable energy between the two parties.

They will also exchange management know-how and facilitate exchange programs in technology development, business promotion, education of technicians and workforce exchanges in IT, BT and new and renewable energy.

Commenting on the deal's significance, Dr Hamrouni said: 'In this century knowledge-intensive, high- technology industries are the most significant and strategic industries for the continued existence and growth of businesses and nations alike.'

'South Korea has embraced this ideology to nurture these industries. Daejeon Technopark is well respected in the international scientific community and we hope to learn a lot from their model."

"Our partnership will open up further global opportunities for investment, collaboration and research and development for both TechnoPark and Daejeon-based companies,” Hamrouni added.

Daejeon Technopark plays a vital role in activating the Korean economy by finding and fostering new industrial growth engines.

There are 232 research and educational institutions to be found in Daejeon, many in the Daedeok region, the most famous of which are the Electronic Telecommunications Research Institute (ETRI) and Korean Aerospace Research Institute (KARI). There were over 5,000 researchers with doctorate degrees located in the area as of 2007.-TradeArabia News Service