Korea Advanced Institute of Science and Technology (KAIST) and Saudi Aramco held an opening ceremony Wednesday for Saudi Aramco-KAIST CO2 Center, almost a month after the two entities signed a memorandum of understanding in Dhahran.

The ceremony was attended by KAIST President Nam-Pyo Suh, Vice President of Engineering Service division of Aramco Samir A. Tubayyeb, former Chairman of Hyundai Heavy Industries Min Gye-sik, former Minister of Foreign Affairs Yu Jong-ha, CEO of S-Oil Nasser Al-Mahasher and others.

Aramco’s research collaboration with universities outside Saudi Arabia is uncommon in that the state-run oil company forged partnerships with only two foreign research institutes in America and France, respectively.

The research center, to be jointly managed by KAIST and Saudi Aramco, will strengthen research partnerships in reducing carbon dioxide (CO2) emissions by removal or capture of CO2.

Each side will invest USD 5 million annually in a matching fund for six years.

The newly opened center will be operated temporarily until a 16,500 square meter-center is built near KAIST’s main campus in Daejeon-si (City).

Source: Yonhap News (Feb. 20, 2013)

** This is the translation of a Korean article.