South Korea, home to companies like Samsung, LG, and Hyundai which are known globally for bringing new technologies to the market, had always enjoyed strong relationship with India. The bilateral relationship between the two countries got significant boost in 2009 with the signing of Comprehensive Economic Partnership Agreement between heads of India and South Korea that supported strategic partnerships in various areas including science and technology. This took further shape when Korea Institute of Science and Technology (KIST), the premier research organization in Korea, opened Indo Korea Science and Technology (IKST) Centre in Indian Institute of Science Bangalore. IKST was inaugurated on 27th January 2010 by former President of India, Dr. A. P. J. Abdul Kalam.

Main objective of IKST is to strengthen collaboration between Indian and Korean scientists by leveraging complementary strengths and expertise of the two countries. IKST visualizes being the platform for advancing science and engineering to develop next-generation technologies for the common benefits of the two countries.

Currently, IKST is located in Jakkur, Bangalore, with a small R&D team in the area of Computational Material Science and has established Memorandum of Understanding with research institutes like Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), and Indian Institute of Science (IISc) Bangalore for taking up collaborative projects.