Invest KOREA

KOTRA opened a global business partnership program '2019 GAPS Day' on Oct 23
World renowned corporations BASF Korea, Dow Chemical Korea Ltd and Arkema France came together for the event

KOTRA (President & CEO: Pyung-oh, Kwon) had an event of '2019 GAPS Day' on Oct 23 at the reception hall in Yangjae EL Tower. This 'GAPS (Global Alliance Project Series) Day' is a special session, officially sponsored by KOTRA to find the way forward for multilateral cooperation among global business partners.

Specific themes shared at the event include: the ownership of the share of Korean businesses, research institutions (or its affiliated universities), establishment of JV(joint ventures), technology transfer and R & D.

The event, co-hosted by the Ministry of Trade, Industry and Energy, invited world- class giants-BASF Korea, Dow Chemical Korea Ltd and Arkema France. R&D workers in Korea office joined together to share their idea of how to build up cooperative network with businesses in Korea, running a session for one-on-one consulting service for the visitors.

All three, BASF Korea, Dow Chemical Korea Ltd and Arkema France, highly praised Korea's technological capability. BASF Korea is currently looking for its local business partner to work with in order to further advance technologies for a new generation of Cu- and PM- catalysts for low temperature, chemical blends to make EUV photoresists.

Dow Chemical Korea Ltd wants to form a business alliance in Korea who can work together in new materials to be used in Green car industry. Arkema France is now seeking Korean developers for the bigger market share for SOFC (solid oxide fuell cell).

KOTRA has long provided the matching platform inviting 16 world prominent businesses in total since 2009, along with other activities to further promote technology partnership and foreign investment in Korea.

Enterprises with high potential but still struggling to get into overseas market can have greater access to opportunities through collaborative work with global businesses, pushing for technology transfer, joint research and marketing.

Anyone who wants to work with the three giants introduced earlier is required to complete and send an application form by the end of next month. Candidates will go through a series of steps to be selected to fully enjoy the benefits of the 'GAPS' program. Detailed business information will be released in June 2020.

Head of the KOTRA Invest Korea, Chang Sang-Hyun, says "We're pushing up with the program, especially targeting chemistry industry which is increasingly getting into the spotlight as new future growth engine in our society. KOTRA works on giving full support to the business to keep up with the government's industry stimulus package."

Source : Invest KOREA (2019.10.23)