LG Chem to Seek Innovative Technology Ideas Worldwide through 2nd Global Innovation Contest
25.7.2019 16:00:00 EEST | Business Wire | Press release
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
Lexon × Jeff Koons Unveil the Chromatic Collection: a Colorful New Chapter for the Acclaimed Balloon Dog Lamp and Balloon Dog Speaker24.3.2026 16:10:00 EET | Press release
Following the success of its 2025 inaugural edition, the Lexon × Jeff Koons collaboration enters a bold new era with the launch of the Chromatic Collection—a colorful evolution of its Balloon Dog Lamp and Balloon Dog Speaker. Pre-orders will be available starting March 24, 2026, exclusively on lexon-design.com as part of a time-limited edition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324498068/en/ Lexon x Jeff Koons — new Chromatic Collection Retaining the signature translucent body that reveals the technology within, the Chromatic Collection introduces eight models: Balloon Dog Lamps in Gold, Blue, Red, and Platinum, and Balloon Dog Speakers in Gold, Blue, Red, and White, reinforcing the collectible nature of the series, offering new audiences an entry point while giving existing collectors the opportunity to enrich their collection. This new approach brings greater variety and a more personal dimension to the col
iQmetrix Joins TM Forum as ODA Component Directory Partner, Giving Telecom Operators a Faster, Cleaner Path to Modern Commerce24.3.2026 16:00:00 EET | Press release
iQmetrix, the global provider of Interconnected Commerce solutions purpose-built for telecom retail, today announced it has joined TM Forum and earned recognition as an Open Digital Architecture (ODA) Component Directory Partner. The achievement validates that iQmetrix aligns with the ODA vision and that its platform is built around standardized open APIs, modular cloud-native components, and interoperable architecture aligned with how leading operators are building their digital futures. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324562860/en/ iQmetrix partners with TM Forum’s ODA Component Directory to accelerate open, future‑ready telecom transformation The recognition comes as communications service providers (CSPs) accelerate AI adoption and move away from integration-heavy legacy environments. For operators under pressure to reduce technical debt, lower cost, and move faster, architecture standards are no longer
Andersen Consulting Enters into a Collaboration Agreement with Ventum Consulting24.3.2026 15:30:00 EET | Press release
Andersen Consulting expands its global platform with the addition of collaborating firm Ventum Consulting, a German-based business transformation and technology consulting firm specializing in digital transformation, enterprise agility, product development, data-driven innovation, and emerging technologies such as AI. Ventum Consulting helps organizations bridge the gap between business and technology by delivering tailored solutions across strategy, process optimization, and IT implementation. The firm’s expertise includes data and AI, cybersecurity, enterprise architecture, sustainability, cloud transformation, and agile enablement, representing only a selection of their comprehensive service portfolio. Ventum Consulting works with clients across industries including automotive and manufacturing, financial services and insurance, healthcare and life sciences, and the public sector to accelerate digital transformation, enhance operational resilience, and drive measurable business valu
SES Taps K2 Space to Accelerate Next-Gen MEO Satellite Network, meoSphere24.3.2026 15:00:00 EET | Press release
SES, a space solutions company, today announced it will deploy meoSphere, a next-generation medium Earth orbit (MEO) satellite network targeted for operation by 2030 and designed to significantly boost the company’s MEO network capacity. The program launches with a close collaboration designed for efficient satellite production. SES will pair its own software-defined payloads, being developed and manufactured in Luxembourg, with an initial 28 high-power satellite platforms developed by K2 Space, representing the first phase of the broader meoSphere rollout. The collaboration gives SES tighter control over key supply-chain elements, compresses the build timeline, and allows the company to manage schedules and costs with precision, laying the foundation for future scalability. meoSphere is SES’s next generation MEO network, significantly boosting global broadband capacity, increasing user data speeds while reducing terminal sizes and costs. These step-change improvements come from advanc
Xsolla and Stevenage FC Launch Charity Campaign With SpecialEffect to Make Gaming Accessible for All24.3.2026 15:00:00 EET | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, has partnered with Stevenage FC to launch a charity campaign with SpecialEffect in the United Kingdom, a charity dedicated to helping everyone to have the ability to enjoy video games. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324722671/en/ Graphic: Xsolla Through the Official Partnership of Stevenage FC, Xsolla is donating the kit for the April 6th match vs Blackpool. SpecialEffect will be the primary kit brand for the match and will receive a percentage of the jersey sales leading up to the match and throughout the rest of the season. Xsolla will match donations from jersey sales, with the goal of using the funds to provide up to 50 Accessible Setups to disabled gamers at the end of the 2025-2026 season, and to support programs leading up to the 50th Anniversary Season of Stevenage FC in 2026-2027. This progra
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