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South Korea and Myanmar will create a research institute worth 20 million dollars

South Korea and Myanmar signed a memorandum of understanding on the establishment of a state research institute, IA RUSKOR reports with reference to the Ministry of Foreign Affairs of South Korea.

The ministry plans to send a delegation to Myanmar to start the project until the end of 2014. The Institute, called the Institute for Development of Myanmar, will be established on the model of Korea's Development Institute and will study economic and social issues.

According to the plans coordinated by the leadership of the two countries in 2012, $ 20 million will be invested in the project within four years, starting from this year.

South Korea will provide the project with equipment and materials, as well as send experts to train staff.

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