Iran, South Korea Discuss Commercialising Nanotechnology Products

The meeting, called “Iran-Korea Club,” was organised by the government-funded research institute Iran Nanotechnology Initiative Council (INIC) and the Korea Institute of Science and Technology (KIST).

Under a plan for cooperation, the firms select innovative ideas, organise teams, train their members, develop the product and finally put them on market.

The plan will allow Iranian and South Korean firms to obtain easier access to East Asia and Middle East markets, respectively.

The second meeting will be held this July in South Korea, according to a report by the Persian-language ISNA.

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The KIST is a top-security compound for South Korea’s best scientific minds, which has contributed significantly to the economic development of the country.

Founded in 1966, it has a staff of over 1,800 research scientists, visiting scientists, fellows and trainees, and foreign scientists involved in basic research in various fields of science and technology.

The INIC is an affiliate of Iran’s Vice-Presidency for Science and Technology, tasked with promoting knowledge-based economy.

The incumbent administration has adopted plans to commercialise knowledge-based firm, as knowledge-based activities can make a significant contribution to Iran’s economic development by increasing added value among other things.

Experts believe nanotechnology could worth a lot to the Iranian economy, as Iran currently ranks seventh globally in this field.

The government plans to boost export of nanotechnology-related products and equipment to $1 billion by 2019.