According to Yonhap News Agency, the Ministry of Knowledge Economy of Korea recently signed a Memorandum of Understanding (MOU) on the development of information communication and SoC (System-on-Chip) industry with the Shenzhen Municipal Committee of China. According to the MOU, both parties will jointly operate R & D centers related to ICT and SoC, and refine joint R & D and other cooperation matters. Korean semiconductor integrated circuit design company (Fabless) will work with related Chinese companies to promote the system-on-chip platform R & D project. The R & D center will be responsible for tapping the needs of China and South Korea for R & D projects and supporting Korean companies to invest in the Chinese market. The Ministry of Knowledge and Economy stated that it will use this as an opportunity to further strengthen cooperation with China, the world's largest semiconductor market.
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