South Korea, Israel Sign Deals On Joint Robot, AI Projects Worth $18Mln - Reports

MOSCOW (UrduPoint News / Sputnik - 07th June, 2023) South Korean and Israeli companies signed investment deals worth nearly $18 million for joint robotics and artificial intelligence projects, South Korea's Yonhap news agency reported Wednesday, citing the country's industry ministry.

The $9.4 million deal to develop a robotic companion for the elderly was signed between South Korea's telecom operator SK Telecom and Israeli digital companion developer Intuition Robotics during a business seminar in Seoul, the report said. The South Korean manufacturer of robotic home cleaners, Everybot, and the Israeli processor developer, Inuitive, reached an agreement worth $8.

2 million on an AI-based robot platform.

In addition, companies from both countries signed agreements on biotechnologies, smart mobility, cybersecurity, autonomous driving and enhanced trade.

The meeting between Korean and Israeli entrepreneurs was attended by South Korean Industry Minister Lee Chang-yang and Israeli Foreign Minister Eli Cohen.

In 1998, South Korea and Israel signed an agreement on industrial technology cooperation. Since then, the two countries have invested about $77 million in nearly 200 projects, the news agency said.