# Korea Institute for Advancement of Technology

Korea Institute for Advancement of Technology is a Government / Public Body based in Seoul, South Korea.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Seoul, South Korea
- **Region:** Asia
- **Address:** Seoul, South Korea
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** kiat.or.kr
- **LinkedIn:** https://www.linkedin.com/company/korea-institute-for-advancement-of-technology-kiat
- **Wikidata:** Q17062696

## Regulatory record

- **Reports private funds:** No

## About

Korea Institute for Advancement of Technology is a Seoul-based organization founded in 2009. It focuses on technology innovation funding and industrial policy development within the technology sector. KIAT provides services through project initiation and funding distribution for sectors engaged in technology innovation and industrial policy.

## Sectors

- Industrial Tech
- AI/ML
- Energy Transition & Renewables
- Robotics & Automation
- Mobility & Transportation
- Enterprise Software

## Offices

- Brussels, Belgium
- Washington D.C., USA

## People

- Min Byung-ju — President

## Questions

### Does KIAT manage an investment portfolio or provide equity funding?

No. KIAT is a government agency that administers public R&D grants, co-financing arrangements, and technology development subsidies from the South Korean national budget. It does not manage an investment portfolio, make equity investments, or hold stakes in private companies. Its deployment takes the form of programmatic funding rather than capital allocation seeking financial returns.

### What is KIAT's relationship to other Korean government innovation bodies?

KIAT sits within the Ministry of Trade, Industry and Energy and focuses specifically on industrial technology advancement. It operates alongside other specialized agencies: the National Research Foundation handles basic research, the Korea Innovation Foundation supports entrepreneurship, and KOTRA handles trade promotion. KIAT's mandate is distinctively centered on applied industrial R&D and technology commercialization.

### What is the annual budget size of KIAT?

KIAT administers a significant portion of South Korea's government R&D budget for industrial technology, which runs to several hundred billion Korean won annually across multiple programs. However, KIAT does not consolidate these appropriations into a single publicly disclosed annual figure on the agency's own materials. Precise program-level disbursements are published in Korean-language government budget documentation.

### Does KIAT partner with private venture capital firms?

KIAT's primary partnership model connects Korean R&D-performing companies with foreign research organizations and public funding bodies, not venture capital firms. It does not operate a fund-of-funds or make LP commitments. Its role is complementary to venture capital — funding technology development and proof-of-concept stages that precede private investment rounds.

### What sectors does KIAT explicitly prioritize?

KIAT's R&D funding priorities align with South Korea's national industrial technology roadmap, covering advanced manufacturing, future mobility, robotics and automation, artificial intelligence, clean energy and climate technology, and materials science. The specific priority areas are periodically updated through government policy directives published by the Ministry of Trade, Industry and Energy.

## Related profiles

- [Korea Federation of SMEs](https://altss.com/profile/korea-federation-of-smes)
- [Korea Investment Corporation](https://altss.com/profile/korea-investment-corporation)

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Last updated: 2026-06-03T20:00:00.000Z

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