The Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA) said on the 10th they will support the return of 20 teams of Korean talent active overseas. The plan is to help bring back talent in artificial intelligence (AI), advanced robotics, aerospace, bio, and manufacturing and stem the outflow of talent.
The Ministry of Science and ICT (MSIT) will push the K-Tech Pioneers project to support 20 teams of Korean talent. It will be carried out in connection with the government's national agenda to secure talent for leading "gap-closing" AI technologies.
Teams of Korean talent returning from overseas will be able to move into commercialization after technology validation and joint research with domestic corporations. They can seek investment linked with venture capital (VC) and receive support such as from the Korea Credit Guarantee Fund (KODIT). Legal, patent, and accounting advice will be provided to help them settle in Korea.
The Ministry of Science and ICT (MSIT) will hold a K-Tech Pioneers orientation in Myeong-dong, Seoul, on the afternoon of the same day. Twenty Korean teams and more than 100 officials from domestic corporations and VCs, including Hyundai Motor Group, LG Science Park, SK Innovation, Toss, and Kakao Mobility, will participate.
At the event, the 20 teams will be introduced and collaborative projects to be pursued with domestic corporations will be shared. Networking with corporations and VCs will take place. In addition, Kim Seong-hun, head of UKF Korea, and Kim Yu-jin, head of SparkLabs, will each give special lectures on entry opportunities into Korea and startup growth strategies.
Park Un-gyu, president of the National IT Industry Promotion Agency (NIPA), said, "We will support Korean talent who have shown innovative results overseas so they can quickly settle in the country." Park Tae-wan, director general for ICT industry policy at the Ministry of Science and ICT (MSIT), said, "We hope to see technology collaboration and business outcomes materialize quickly."