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According to Yonhap News,
The University of Ulsan has decided to launch ‘Industry Academia Cooperation Committee’ and expand its R&D projects.
The University said on April 9th that it would form ‘Industry Academia Cooperation Committee’ in order to provide human resources needed for new growth engine industries at right time and to support knowledge-based high-technology industries.
The Committee aims to grow the R&D projects of the University of Ulsan which is currently worth KRW 75 billion a year to KRW 130 billion by 2015 and KRW 200 billion by 2020 and to grow the University into one of the top ten universities in Korea.
‘Industry Academia Cooperation Committee’ will recruit former Ulsan Vice Mayor for Economic Affairs Ju Bong-hyeon and appoint 21 officials including representatives of major agencies and industries to the committee in a bid to improve its capacity to win bids for new projects, cooperate with other bodies, and focus on securing budgets from the central government.
Also, general measures will be devised to provide more incentives to organizations and individuals that participate in R&D projects to strengthen and expand industry and academia cooperation.
The University of Ulsan is the only one to adopt ‘recruitment of full-time professors from the industry’ in Korea and plans to expand the program.
The University has submitted projects to attract excellent foreign agencies for regional green growth (worth KRW 5 billion) and to form the industry academia convergence district (worth KRW 27 billion) to the government, and plans to put forward projects to create zero-carbon technology pilot city (worth KRW 150 billion), to promote a leading university in industry academia cooperation (worth KRW 190 billion), and to develop electric vehicles (worth KRW 150 billion).
The inauguration ceremony of the committee will be held at the University of Ulsan on April 11th.
Source: Yonhap News (April 8, 2011)
**This is an English translation of a Korean news article.