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29 Oct 2018

Belarus to use S. Korea’s expertise in digital transformation of economy

Belarus to use S. Korea’s expertise in digital transformation of economy

MINSK, 29 October (BelTA) – Experts of South Korea and Belarus have discussed digital transformation of the Belarusian economy within the framework of the Knowledge Sharing Program of the Republic of Korea, BelTA learned from the press service of the Economy Ministry.

A delegation of Korean experts representing the Ministry of Economy and Finance and leading research institutions of the Republic of Korea was on a visit to Belarus on 23-25 October. During the visit the Korean delegation held a series of talks with senior officials of the Belarusian Economy Ministry, Belarusian experts and representatives of government agencies in charge of digital transformation of the manufacturing sector. The parties communicated best practices and confirmed interest in mutually beneficial cooperation.

The press service informed that the Memorandum of Cooperation between the Economy Ministry of the Republic of Belarus and the Ministry of Economy and Finance of the Republic of Korea was approved. The parties outlined key areas of forthcoming research. Experts will analyze whether the Belarusian manufacturing industry is ready for digital transformation taking into account South Korea’s expertise and knowledge. They will also work out recommendations on digital transformation of the Belarusian economy and the roadmap to implement the transformation program in the manufacturing sector. Proposals will be made on digitalization of the leading industries of the country’s real economic sector (mechanical engineering, petrochemical industry, pharmaceutics).

Since 2004, projects under the umbrella of the Knowledge Sharing Program of the Republic of Korea have been implemented in 64 countries worldwide. The project in Belarus aims at utilizing Korea’s expertise and knowledge for digital transformation of the Belarusian economy, first of all, its backbone – processing industry. The parties finalized the plan of action to implement the project, the Economy Ministry added.

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