Business Wire

LG Chem to Seek Innovative Technology Ideas Worldwide through 2nd Global Innovation Contest

Share

LG Chem (KRX: 051910) announced on 25th that it will host the 2nd Global Innovation Contest (GIC) for leading universities and research institutions worldwide.

Being the first of its kind in Korean chemical industry, Global Innovation Contest invites organizations around the world to discover innovative ideas and technologies.

The contest is open for entry until 30th September in 4 categories: Petrochemicals, Batteries, Advanced Materials, and Bio technologies.

Scholars and researchers who are interested in developing the next generation’s innovative technology and industry-academia collaboration research are welcome to participate and submit their research proposals through the official GIC website (http://www.rnd.lgchem.com/global/gic).

LG Chem will form a judging panel of internal experts to evaluate the research proposals based on the company’s business strategies of each division.

The panel will also consider the technological innovativeness, marketability, and price competitiveness to draw up a shortlist. The nominees will be notified individually in December.

Nominated universities and institutes will be granted up to $150,000 of research and development expenses per year during their projects, as well as opportunities for researcher dispatch and technology exchange to support them.

In 2018, LG Chem held the 1st Global Innovation Contest in which total of 17 projects, including next-generation batteries and new energy technologies, were selected. The company has been supporting them with project expenses and technology exchange.

Furthermore, in April 2019, LG Chem held The Battery Challenge, the first global start-up contest in the battery industry and selected five start-ups to collaborate on developing new battery technology.

“The Global Innovation Contest has great significance as it provides open innovation that develops innovative R&D level technology into commercial technology through corporate-academia collaboration”, said Kisu Ro, the CTO of LG Chem.

Ro added, "We will continue to collaborate with third parties and invest in start-ups that have innovative solutions to acquire promising future technologies in advance.”

In 2019, LG Chem plans to invest the largest-ever amount of KRW 1.3 trillion (around $1.1 billion) in R&D and increase R&D manpower from 5,500 to 6,200 by the end of the year.

For more information on GIC 2019, please visit http://www.rnd.lgchem.com/global/gic

Contact information

LG Chem
GIC 2019 Organizing Committee
JIN HYUN PARK
+82-42-866-5731
lggic@lgchem.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Softomotive Named a Strong Performer Among Robotic Process Automation Vendors by Independent Research Firm23.10.2019 16:18:00 CESTPress release

Softomotive announced today it has been positioned as a Strong Performer in The Forrester Wave™: Robotic Process Automation, Q4 2019 report. According to the Forrester report, Softomotive received the highest possible score in three categories, including the Innovation/market approach/access to capital, product roadmap and differentiation, and Enterprise RPA customers criteria. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191023005637/en/ Softomotive Named a Strong Performer in The Forrester Wave™: Robotic Process Automation, Q4 2019 report. According to the Forrester report (Graphic: Business Wire) Softomotive believes that this report arrives at a time of huge growth in the category, with companies focused on not only adopting RPA technology, but being concerned about how to scale and empower their workforce. This shift has driven a 2x increase in customer count year over year for Softomotive as it expands its global rea

Citi, OPIC and Ford Foundation Launch Scaling Enterprise, a $100MM Financing Partnership to Support Social Enterprises23.10.2019 16:00:00 CESTPress release

Citi Inclusive Finance, the Overseas Private Investment Corporation (OPIC) and the Ford Foundation today introduced Scaling Enterprise, a $100 million loan guarantee facility, which will enable Citi to provide early-stage financing in local currency to companies that expand access to products and services for low-income communities in emerging markets. The announcement was made at the 2019 SOCAP Conference. Loans and working capital in local currency and at affordable rates can enable early-stage social impact companies to achieve scale, greater efficiencies and lower costs. Scaling Enterprise will facilitate vital growth financing to eligible companies that are expanding access to finance, agriculture, energy, affordable housing, water and sanitation to low-income households in emerging markets. Marking the first two transactions under Scaling Enterprise, the partners have committed $5 million in financing to INI Farms to help smallholder banana and pomegranate farmers in India access

Velodyne Announces ADAS Collaboration with Hyundai Mobis23.10.2019 12:00:00 CESTPress release

Velodyne Lidar, Inc. today announced an agreement with Hyundai Mobis to launch a new lidar-based advanced driver assistance system (ADAS) that integrates Velodyne lidar technology and Hyundai Mobis cognitive software. The Velodyne Velarray™-based system is designed specifically for ADAS in consumer vehicles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191023005425/en/ Velodyne Lidar announced an agreement with Hyundai Mobis to launch a new lidar-based ADAS system that integrates Velodyne lidar technology and Hyundai Mobis cognitive software. (Photo: Velodyne Lidar). "Hyundai Mobis is delighted to cooperate with Velodyne Lidar, one of the industry's most innovative lidar sensor providers, to launch a lidar system that is essential in high level autonomous driving," said Ko Youngsuk, Head of the Hyundai Mobis Strategy Planning division. "The Velarray, utilizing Velodyne’s industry-leading sensing technology, meets the deman

GSMA and Sónar Release First Details of xside23.10.2019 11:00:00 CESTPress release

The GSMA’s successful Four Years From Now (4YFN) start-up platform and Sónar, the international festival devoted to advanced music, creativity and technology, today announced further details of their hotly anticipated co-curated event, xside. Taking place within the 4YFN venue, from 24-26 February 2020 at Fira Montjuïc, in parallel to 4YFN and MWC Barcelona 2020, xside is a new gathering including conference, networking and music to explore the role technology, design and innovation play in the future of creativity, cultures and business. As the creative heart of 4YFN and MWC Barcelona, xside is designed to create links between Sónar’s audience of creative communities, and the technological and entrepreneurial attendees of the world’s largest mobile event. It is the first integrated convergence event of its kind on this scale, co-created by leading event brands of music, creativity, technology, design and entrepreneurship. xside will welcome over 25,000 attendees across three days and

SES and Thales Reach Record Speed and Enhanced Coverage via Integrated GEO/MEO Network, Raise Bar for Inflight Connectivity23.10.2019 06:55:00 CESTPress release

SES and Thales have taken inflight connectivity to a new level, successfully demonstrating uninterrupted access to high-throughput broadband applications for the first time over a platform supporting multi-orbit interoperability, switching seamlessly between SES’s geostationary (GEO) and O3b medium earth orbit (MEO) satellite beams. The demo flight from Melbourne, Florida to the Atlantic coast of Nicaragua saw dozens of switches successfully completed between GEO and MEO beams, and between multiple MEO satellites within a beam, using the Hughes JUPITER(TM) Aeronautical system high performance airborne modem system, SES and Thales announced today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191022006244/en/ SES and Thales Reach Record Speed and Enhanced Coverage via Integrated GEO/MEO Network, Raise Bar for Inflight Connectivity (Photo: Business Wire) Engineers aboard the test flight were able to simultaneously use a broad

REE Cooperates with Hino Motors to Showcase New FlatFormer Concept Vehicle at the 46th Tokyo Motor Show23.10.2019 06:30:00 CESTPress release

Tokyo Motor Show – Today, REE announced its cooperation with Hino Motors, a leading provider of commercial vehicles, and showcased its technology within Hino’s new FlatFormer modular concept model, a super-flexible chassis that optimizes electric mobility solutions, at the 46th Tokyo Motor Show. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191022006241/en/ (Photo: Business Wire) REE’s corner module technology plays an important role to the FlatFormer concept design. FlatFormer leverages REE’s unique technology, which allows the entire drive components to reside within the wheel housing, thus creating a fully flat chassis. With the contribution of REE’s novel electric solution, Hino’s light duty FlatFormer chassis delivers optimized space, flexibility and energy efficiency to customers. [SO2] It supports a diverse range of plug-and-play body configurations that optimize internal vehicle space and provide room for additional