Solvay, Korean university joint venture R&D centre

Solvay, Korean university joint venture for R&D centre

5:02 PM, 30th May 2011
Solvay, Korean university joint venture for R&D centre
Christian Jourquin, Chief Executive Officer, Solvay.

Solvay invests € 13 million in research, development and technology (RDT) centre, which is focusing on high-growth markets such as electronics, lithium ion batteries and photovoltaic cells.

BRUSSELS, BELGIUM: Solvay and EWHA Womans University in Seoul, Korea, have agreed to base its Korean research, development and technology (RDT) centre and headquarters of Solvay’s global business unit special chemicals on the EWHA university campus in Seoul. EWHA is the largest women’s university in the world and it can capitalize on a strong international research network with universities and research institutes.

Solvay will invest € 13 million in the RDT centre, which will enhance research collaboration with the academic world and customer intimacy. It will also invest € 3.8 million in a five year collaborative research fellowship with EWHA. The RDT centre will mainly focus on high-growth markets such as electronics, lithium ion batteries and photovoltaic cells, markets for which Solvay produces high value-added specialty polymers and chemicals. 

It is the first time a non-Korean private company strikes such an agreement with a Korean university. The agreement complements Solvay’s R&D efforts in Korea. Solvay is investing KRW 20 billion (€ 13 million) in Korean technology venture capital fund Korea Advanced Materials Fund. 

“This agreement will enhance Solvay’s activities in Korea, a country that has developed an impressive knowhow and is conveniently located in a dynamic region. By teaming with such a well-established university, we will intensify our R&D in close co-operation with the academic world. Our RDT centre in Seoul will focus on developing products to help the world overcome challenges of the 21st century,” said Christian Jourquin, Chief Executive Officer, Solvay.

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