South Korea to be first global Eurostars member

South Korea is expected to be the first non-European member of Eurostars when the programme’s second phase is launched under Horizon 2020.

Earlier this year, the High Level Group endorsed the rules for participation in Eurostars for associated countries. South Korean Minister Yoon Sang-jick and Head of EUREKA Secretariat, Pedro de Sampaio Nunes, signed a Memorandum of Understanding (MoU) as the first major step toward a South Korean membership. This MoU lays down the conditions for Seoul to sign a bilateral agreement with the EUREKA Secretariat.

Speaking about the new partnership in a press release, the South Korean Government said: “The [South Korean] ministry believes the Eurostars programme will be a great opportunity for the country’s SMEs to learn and experience the advanced technology and innovation of Europe’s hidden champions through exchange and mutual co-operation.”

As a joint R&D programme operated by EUREKA together with the European Commission, the budget of the Eurostars programme comprises member country contributions and is topped-up by the Commission. South Korea is expected to invest an estimated €35bn won (€24m) and the final confirmation of Seoul’s participation awaits the approval of the European Parliament.

Eurostars is a joint programme between more than 30 EUREKA member countries and the EU. In 2012, the EUREKA Ministerial Conference endorsed the ‘Budapest document’ which stated strong interest of EUREKA countries in supporting the continuation of a strengthened Eurostars-2 programme within Horizon 2020.