German science and technology major Merck and the Korea Advanced Institute of Science and Technology (KAIST) are set to collaborate to speed up progress in life sciences.
The scientific collaboration, sealed with a non-binding memorandum of understanding announced on Thursday, aims at advancing the research and development ecosystem in South Korea for industrial applications.
Through the partnership, Merck will provide products from its chemistry and biology portfolios for researchers in the lab.
The company will also offer development opportunities for KAIST researchers.
In addition, Merck and KAIST will establish an experience lab in Korea.
Merck executive Matthias Heinzel said the "collaboration with KAIST is an important step towards accelerating the biotechnology ramp-up for both the local and global life science industry. Advancing research and preparing the next generation of scientists is key to discovering new medicines to meet the needs of a global population - this is how we impact life and health with science."
In March, the company announced a €300 million ($324 million) investment in Korea to build a new bioprocessing production facility in Daejeon.
