Officials from TIPA and Germany's WFS signed a hybrid Letter of Intent (LOI) for technology exchange and cooperation between Korean and German SMEs. (Photo courtesy of TIPA)

Expectations for revitalization of ICT, machinery convergence , and the automotive sector
Cooperation to Promote Medium- and Long-term Technology Exchange and Resolve Difficulties Between the Two Countries

The Korea Technology Information Promotion Agency for SMEs (hereinafter TIPA) held the 2022 Korea-Germany Technology Exchange Webinar with the Saxony Economic Development Agency in Germany and pledged to foster SMEs in both countries and cooperate in key industrial sectors.

The Korea Institute of Technology Information Promotion for SMEs and the German Economic Development Agency of Saxony (CEO Thomas Horn, hereinafter WFS) signed a hybrid Letter of Intent (LOI) for technology exchange and cooperation between SMEs in Korea and Germany at the 2022 Korea-Germany Technology Webinar held at the Glad Hotel in Yeouido on the 17th.

Based on information and technology exchanges with Germany, both organizations pledged mutual promotion and cooperation to foster small and medium-sized enterprises in both countries and to collaborate in key industrial sectors.

The agreement also includes the holding of joint seminars to promote mutual industry-academia-research linkage through the recommendation and introduction of advanced technologies and the utilization of infrastructure between the two institutions, as well as to facilitate technology transfer and the exchange of technical information.

This MOU follows the TIP held during the first Korea-Germany technical exchange working group consultation in September 2020.Starting with a non-face-to-face meeting between A and the Saxony State Economic Development Agency, the TIPA-WFS LOI was signed following discussions at an online meeting in March of this year.

A business agreement ceremony with the Saxony Economic Development Agency was scheduled for early 2022 in Germany, but it was postponed due to the pandemic. Despite many difficulties, we eventually signed a business agreement and held an event to support small and medium-sized enterprises.

The BBA project budget was allocated to this event, which is being held jointly with the German state government of Saxony.

With the signing of the LOI today, technology exchange and cooperation between companies from both countries will be actively pursued with the Saxony Economic Development Agency, a German region specializing in materials, parts, and equipment, manufacturing innovation, and ICT research.

The purpose of the event is to revitalize technological exchange between the two countries by presenting technological case studies from outstanding research institutes and organizations in the fields of ICT-machinery convergence and the automotive sector (e-mobility, lightweight materials, and hydrogen technology), where there is significant synergy for collaboration between Korea and Germany.

Following the signing ceremony, a technical seminar was held where experts from both countries could share their insights on gaming technology in the mechanical engineering industry, including digital twin, simulation, digitalization, and AR/VR, as well as future vehicle technology, including autonomous driving, e-mobility, and lightweight materials.

A venue was provided to hear about expertise and trends, with Dirk Vogel, Network Manager of the Sachsen Automotive Suppliers Network, delivering a keynote speech on “The Future of Mobility and the Automotive Industry,” and Lee Soon-yeol, CEO of I2 Co., Ltd., explaining “Digital Twin Cases Utilizing AR/VR in the Domestic Manufacturing Industry.”

TIPA President Lee Jae-hong stated, “Starting with a business agreement with the Saxony Economic Development Agency for sustainable cooperation between Korea and Germany, TIPA [is developing linkage strategies] for technology development cooperation among SMEs with growth potential in both countries and for discovering future growth engines. "We will explore opportunities and consistently support domestic SMEs in entering the European market," he said.

Thomas Richter, Deputy Director of WFS, expressed his delight at participating in the Korea-Germany Technology Webinar, stating, "I am very pleased to participate in the Korea-Germany Technology Webinar." He added, "Facing an international crisis due to Russia's invasion of Ukraine and other factors, the importance of exchanges between Asia and Germany has grown significantly. We will focus on cooperation with the goal of ensuring smooth trade between the two countries."

Stephan Brauckmann, Director General of the Economic Department of Saxony, stated, “Since taking charge of foreign trade in Saxony, we have engaged in extensive exchanges with Korea. This successful collaboration was achieved through the collective efforts of experts from all fields,” adding, “This event will expand cooperation between the two countries and have a positive impact across various industrial sectors, including automation and future vehicles.”

Meanwhile, on the 18th, the second day of the event, a 1:1 business matching consultation session was held online.

SMEs with experience or plans to carry out SME technology development projects that wish to hold consultations with Germany can receive support in resolving difficulties related to inter-company technology development and be provided with opportunities for joint market entry through this consultation session.