Major German science and technology company Merck and the Korea Advanced Institute of Science and Technology (KAIST) are ready to collaborate to accelerate progress in life sciences.
The scientific collaboration, sealed with a non-binding memorandum of understanding announced on Thursday, aims to promote the research and development ecosystem in South Korea for industrial applications.
Through the partnership, Merck will provide products from its chemistry and biology portfolios to laboratory researchers.
The company will also offer development opportunities for KAIST researchers.
In addition, Merck and KAIST will establish an experiment laboratory in Korea.
Merck executive Matthias Heinzel said, “The collaboration with KAIST is an important step in accelerating the advancement of biotechnology for the local and global life sciences industry. Advancing research and preparing the next generation of scientists is critical to discovering new medicines that meet the needs of a global population – this is how we impact lives and health with science.”
In March, the company announced a 300 million euro ($324 million) investment in Korea to build a new bioprocessing production facility in Daejeon.
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