LG Chem to Seek Innovative Technology Ideas Worldwide through 2nd Global Innovation Contest
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
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190725005030/en/
Contact information
LG Chem
GIC 2019 Organizing Committee
JIN HYUN PARK
+82-42-866-5731
lggic@lgchem.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Guinea Emerges as West Africa's New Digital Transformation Powerhouse9.12.2025 17:53:00 EET | Press release
The Republic of Guinea has reached a decisive turning point as a regional digital power. By hosting the Transform Africa Summit 2025, becoming the first francophone nation to receive this major continental event since its creation in 2013, Guinea confirmed the emergence of Conakry as a new digital innovation hub in West Africa. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209780892/en/ Rose Pola Pricemou, Minister of Posts, Telecommunications and Digital Economy of the Republic of Guinea (Photo: AETOSWire) The numbers break all records: over 7,000 participants from 79 countries, including 47 ministers, 1,552 government representatives, 584 business leaders, over 590 start-ups, and 14 MoUs signed. Never before in the history of the Transform Africa Summit has such mobilisation been accomplished. This unprecedented turnout demonstrates international confidence in Guinea's ability to lead Africa's digital transformation ch
Rapid Medical™ Completes Enrollment in DISTALS Trial Evaluating TIGERTRIEVER 13™ for Distal Vessel Occlusions9.12.2025 17:47:00 EET | Press release
Rapid Medical™, a leading developer of active endovascular devices, announces the completion of patient enrollment in the DISTALS Trial, a multicenter randomized study assessing the TIGERTRIEVER 13™ device in patients with distal medium vessel occlusions (DMVO) in acute ischemic stroke. “DMVO strokes represent up to 40% of ischemic strokes and can cause significant disability, yet their treatment has remained uncertain. Recent neutral results from ESCAPE-MEVO and DISTAL made one thing clear: distal thrombectomy requires devices and trials specifically engineered for distal vessels,” said Dr. Jeffrey Saver of UCLA in California, Principal Investigator of DISTALS. “TIGER 13 and DISTALS bring that dedicated design. Completing enrollment is a major step toward evidence that can truly advance care for these patients.” The TIGER 13 is purpose-built for distal interventions. Its proprietary adjustable design is the only thrombectomy device that can actively remove tension from the vessel duri
Suzano Launches Nature Strategy and Reinforces the Strategic Importance of Biodiversity Conservation to the Business9.12.2025 17:41:00 EET | Press release
Suzano, the world’s largest pulp producer, has launched its Nature Strategy, reaffirming the company's commitment to biodiversity and how it guides decision-making within the business. Suzano's operations depend directly on nature, and the company recognizes that its longevity and ability to innovate are intrinsically linked to the health of ecosystems. Therefore, nature occupies a significant strategic role in the business’ vision. The science-led Nature Strategy, developed in collaboration with IUCN, is guided by the mitigation hierarchy: avoid, reduce, restore and transform. This approach enables the prevention of impacts, the minimization of risks, and the promotion of ecosystem regeneration. With support from IUCN, Suzano has pioneered the use of the STAR metric – a tool that enables the company to map sensitive areas within the territories where it operates, identify endangered species, and set priority actions required to reduce their risk of extinction. Biodiversity monitoring
Winners of the Global Prize for Innovation in Water Announced9.12.2025 17:28:00 EET | Press release
The city of Jeddah today witnessed a landmark global event with the announcement of the winners of the Global Prize for Innovation in Water in its third edition, marking the conclusion of a highly competitive showcase that drew the attention of the international water community. The winners were revealed during the opening ceremony held as part of the fourth edition of the Innovation Driven Water Sustainability Conference (IDWS2025). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209514013/en/ Winners of the Global Prize for Innovation in Water Announced (Photo: AETOSWire) During the ceremony, the names of 14 winners were announced. Their pioneering solutions succeeded in meeting the rigorous criteria set by the international jury panel. With total prizes amounting to 10 million dollars across all stages, the award recognizes exceptional efforts in transforming research ideas into practical, real-world water technologies.
ITA Group Expands Global Event Capabilities With Two European Acquisitions9.12.2025 17:00:00 EET | Press release
ITA Group, a global leader in engagement solutions, is announcing the strategic acquisition of two award-winning European event agencies: C2events, based in West Yorkshire, England, and Daymakers, based in Utrecht, Netherlands. Effective October 31, 2025, these acquisitions significantly expand ITA Group's local presence and event capabilities throughout Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209885574/en/ Back row: Mark Saxby – C2, Executive Director, Brent Vander Waal – ITA Group, CEO; Front row: Sarah Haines – ITA Group, President Event Solutions, Sophie Hopes – C2, Client Services Director, Danielle Gunn – C2, Client Services Director, Cheryl Clarke – C2, Executive Director, Erica Lalk – ITA Group, Director - Global & Event Strategy The dual acquisitions strengthen ITA Group's position as a global events leader, offering current and prospective clients immediate benefits, including: In-region event tea
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom