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South Korea’s LG Chem is launching an international competition in search of ideas for innovations.
The winning individual and group in the Global Innovation Contest 2018 (GIC 2018) get top prize money of $150,000 and research support from LG Chem for at least one year. Online submission is possible from June 18 to Sept. 30 at: http://www.rnd.lgchem.com/global/gic.
It is the first time for any Korean chemical company to hold an international technology contest, said LG Chem.
The proposed technologies will be evaluated based on the degree of innovation, marketability and price competitiveness, and the winners will be announced in December.
The company said it will be hosting seminars and conferences for the GIC participants to expand its network with world’s technology experts as well as continue its “open innovation” platform to incubate promising startups in the future.
LG Chem vowed largest-ever 1.1 trillion won ($996.7 million) in R&D spending this year with an aim to increase investment by 10 percent every year. It also plans to expand its R&D workforce to 6,300 by 2020 from this year’s 55,000.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
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