BUSAN < invest Korea

According to Yonhap News,

Biotechnology Research Institute of Technical University of Berlin, the world’s leading research institute in the biotechnology sector, has confirmed to establish its subsidiary research institute in Busan.

Busan City said on March 17th that it will sign an MOU to launch Biotechnology Research Institute in Busan with Technical University of Berlin at Busan Lotte Hotel on March 18th.

Deputy Mayor for Economic Affairs Lee Gi-u of Busan, Chancellor Jang Je-uk of Dongseo University, and President Joerg Steinbach of Technical University of Berlin will attend the MOU signing ceremony.

Technical University of Berlin will found a biotechnology research institute to conduct research on microalgae to produce high value-added metabolite at Dongseo University under the MOU.

Technical University of Berlin said that BMBF (the Ministry of Education of Germany) promised to provide 200,000 euro for the research.

The University plans to dispatch four German researchers to the new research institute.

Dongseo University will offer a place for research, equipment, and reagent and dispatch four researchers. Busan City plans to provide KRW 300 million to the biotechnology research institute for two years.

Busan City said “the new biotechnology research institute is expected generate a synergy effect along with the Bioprocess Engineering Department of FAU Busan Campus,” and added “also, it will serve as a catalyst for attracting excellent research institutes and companies of Europe.”

Meanwhile, Busan plans to attract Karoliska Institute of Sweden, which is equipped with one of the world’s best research and development infrastructure and Bell Laboratories of the U.S. in association with regional universities.  

Source Text

Source: Yonhap News (March 17, 2011)

**This is an English translation of a Korean news article.