Peruvian Production Minister Pedro Olaechea and Republic of Korea's Vice-Minister of SMEs and Startups Sugyu Choi on Friday signed an agreement to open a Peru-Korea Technology Exchange Center (PKTEC) in the Andean nation.
According to Olaechea, the deal will allow South Korean firms to transfer technology to small and medium-sized enterprises (SMEs) based in Peru.
"Korea has become a technology power over the past decades, and thanks to this agreement, Peruvian SMEs will be able to garner technological licenses, technical assistance, a joint venture with Korean peers," he said.
The agreement will take effect as of the date of signing and will remain in force for a period of two years. Plus, it will continue in effect following a mutual agreement between the two parties.
Peru's Production Ministry (Produce) will select the candidates for the technical coordinator position and
South Korea's Ministry of SMEs & Startups (MSS) will be in charge of the training.
The technical coordinator shall carry out a diagnosis to Peruvian companies and identify their technical requirements to improve their quality and productivity.
MSS, on the other hand, will release a list of Korean SMEs that could provide the technology required by Peruvian companies.
(END) CNA/CAN/RMB
Published: 9/15/2017