Among the projects are developing the next-generation code, and enhancing security of the Internet of Things (IoT) and cloud computing sectors.

"This research project is an example of the two countries' efforts to overcome their institutional differences by closely working together to come up with a cooperation system amid consistent global cyberthreats," said Song Jeong-soo, an ICT official. "The ministry will push forward to work with other leading countries, such as Israel."

The ministry said the two countries will share the cost by half and will hold a forum every year to exchange the result of their work.

South Korean has beefed up its cybersecurity capabilities amid growing hacking threats from both home and abroad in recent weeks.

A recent report showed that cyberattacks against South Korea increased during the first quarter of the year, with the country being hit with the second-highest number of attacks. (Yonhap)