The Korea Chemical Industry Association held the launch ceremony for the 'Research and Development (R&D) Council for High Value-Added and Eco-Friendly Transition in the Chemical Industry' on the 1st, with the participation of more than 20 experts from academia, industry, and research.
The R&D Council is expected to consolidate the R&D capabilities of academia, industry, and research to plan and coordinate R&D promotion strategies aimed at high value-added and eco-friendly transition in the chemical industry, conduct demand surveys and planning for R&D projects, commercialize R&D, disseminate results, and propose improvements for government policies and systems.
The Korea Chemical Industry Association noted, "R&D for high value-added and eco-friendly transition is a key strategy for strengthening competitiveness amid China's rise in the chemical industry and tighter global environmental regulations," and added, "If academia, which plays a crucial role in basic research and technology development, and the industry, which has the capacity for the practical application and commercialization of technologies, combine their R&D capabilities to create synergies, we can accelerate the high value-added and eco-friendly transition efforts."
Na Seong-hwa, Director of the Industrial Supply Chain Policy at the Ministry of Trade, Industry and Energy, said in his speech, "With the global oversupply in the petrochemical industry and the paradigm shift towards high value-added and eco-friendly solutions, the Korean chemical industry is at a critical crossroads of growth and decline," and urged, "Let's join forces in the public and private sectors to secure future growth engines through technology development and turn the crisis into an opportunity for growth."