A Memorandum of Understanding (MOU) between the Korea Institute for Advancement of Technology (KIAT) and IPI was signed on 12 July 2018. The agreement aims to promote Korea-Singapore technology transfer and R&D collaboration, through the exchange of technology profiles as well as participation and support in mutual events.

KIAT is a quasi-government organisation established under the Ministry of Trade, Industry and Energy of Korea. It provides support for technological innovation in companies, universities, and research institutes to promote technology commercialisation and international technology cooperation.