The Advanced Technology Investment Company (ATIC) of Abu Dhabi and the Korea Semiconductor Industry Association (KSIA) announced on Tuesday that they had signed a memorandum of understanding in which the two parties will explore potential areas of collaboration in the semiconductor industry.

The agreement will allow ATIC and KSIA to explore cooperative partnerships with leading companies in each other’s markets, as well as global companies located in the UAE and South Korea. With significant intellectual capital and a shared financial interest in the semiconductor industry, the ATIC and KSIA partnership will also explore further technology education and public/private technology advancement.

Under the MOU, ATIC and KSIA will evaluate potential development and commercial projects, including semiconductor-related research and development programs; technology trends and industrial policy seminars; collaboration between UAE and Korean companies to further competitiveness and investment; and education-related exchanges between students and faculty in various UAE and Korean universities and associations.

“South Korea’s semiconductor industry is tremendously innovative and is an amazing source of talent and insight. We look forward to exploring shared development and commercial opportunities as we advance ATIC’s goal of becoming an industry leader and strengthening Abu Dhabi’s advanced technology sector,” said Ibrahim Ajami, chief executive officer of ATIC.

KSIA is the advisory association behind the Korean semiconductor industry, a major economic pillar of the Korean economy, representing the interests of a variety of Korean semiconductor companies including Samsung and Hynix. Earlier this month it transpired that ATIC may invest into Hynix Semiconductor.

 “ATIC’s investment in Globalfoundries is propelling some of the leading advances in the industry. As we begin to see recovery in this industry, we are very excited to be collaborating with this major industry partner, with its long-term perspective and global viewpoint,” said Dr. Jun-Cheol Yang, CEO of KSIA.

Tags: ATIC, KSIA, Semiconductor, Business