[THE INVESTOR] Korea and Israel will collaborate in developing amphibious unmanned aerial vehicles, Korea’s Ministry of Trade, Industry and Energy announced on June 20.

The project will be conducted by Korea’s KEVA Drone and Israel’s Aerodrome with the support of both governments through the Korea-Israel Industrial R&D Foundation.

The two companies plan to develop light drones that can land on both land and water fitted with water-resistant imaging equipment. 

Founded in 2001, Korea-Israel Industrial R&D Foundation supports research and development projects with the US$4 million fund Korean and Israeli governments provide each year.

Since its launch, the foundation has aided 99 projects. Of the 63 completed projects, 23 have been commercialized by Korean firms.

Along with the drone project, the foundation will also sponsor a project developing high-tech grape production method, the ministry said. In the project, Korean sensor technology will be combined with Israeli-developed grape farming algorithm, the ministry said.

Aside from the two new projects, the ministry said that the two governments are considering raising the US$ 1 million ceiling on funding for each project to US$ 2 million.

By Choi He-suk (cheesuk@heraldcorp.com)