BERLIN (dpa-AFX) - German science and technology major Merck KgaA (MKGAY.PK) announced that it has signed a non-binding Memorandum of Understanding with the Korea Advanced Institute of Science and Technology or KAIST to further progress in life sciences advance scientific collaboration.
The academia-industry scientific collaboration aims at advancing the research and development ecosystem in South Korea for industrial applications.
Through the partnership, Merck will provide products from its chemistry and biology portfolios for researchers in the lab. The company will also offer development opportunities for KAIST researchers.
In addition, Merck and KAIST will establish an experience lab in Korea.
Matthias Heinzel, Member of the Executive Board of Merck and CEO Life Science, said, 'Our collaboration with KAIST is an important step towards accelerating the biotechnology ramp-up for both the local and global life science industry. Advancing research and preparing the next generation of scientists is key to discovering new medicines to meet the needs of a global population - this is how we impact life and health with science.'
In March, the company announced a 300 million euros investment in Korea to build a new bioprocessing production facility in Daejeon.
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