Singapore: The Korea Evaluation Institute of Industrial Technology (KEIT) has inked a Memorandum of Understanding with the Ontario Centers of Excellence (OCE), to collaborate and develop technology research and innovation.

Mr Reza Moridi, Ontario's Minister of Research and Innovation said, "This strategic partnership unites the expertise of Ontario and South Korea to help transfer innovative technologies to the marketplace." He further said that collaborative research projects will generate positive research outcomes for people in Ontario and South Korea.

Dr Tom Corr, OCE president said, "OCE is a perfect fit for this kind of collaboration, considering its excellence in commercializing academic research. Ontario's universities and colleges are producing world-class research and innovations that have applications and potential beyond our borders."

Mr Ki-Sub Lee, CEO, KEIT said, "This MOU will help in promoting the industrial technology cooperation between Canada and Korea. This will further help in advancing the business opportunities for technology based firms in both the countries."