February 15, 2022
(press release)
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LOTTE Chemical announced that it will establish the ‘Carbon Neutral Research Center’ together with KAIST (Korea Advanced Institute of Science and Technology), which is the nation’s best institute for fostering scientists, in order to procure future technologies and discover talented human resources to realize a carbon neutral society. LOTTE Chemical Basic Materials Division President Hwang Jin-koo, KAIST President Lee Kwang Hyung, and others attended the ‘LOTTE Chemical-KAIST Carbon Neutral Research Center’ opening ceremony held at the KAIST Energy Environment Research Center in Daejeon in the afternoon of the 24th (Mon). The LOTTE Chemical-KAIST Carbon Neutral Research Center selects technological development and economic feasibility analysis projects to conduct research in fields such as ▲production of clean hydrogen through pyrolysis and electrolysis of waste plastics ▲eco-friendly naphtha production technologies ▲liquid organic hydrogen storage and vehicle technologies ▲optimization of clean hydrogen production price and reduction of carbon emissions through LCA (life-cycle assessment), etc. LOTTE Chemical will invest a total of 2 billion KRW for research expenses over the next three years until 2024 for research and development, and KAIST in Daejeon will construct an exclusive research area and install experimentation equipment, etc. for technological development. Professor Lee Jae-woo of the KAIST Department of Chemical and Biomolecular Engineering was appointed as the director of the Carbon Neutral Research Center, and it will be joined by five professors and 23 master’s and doctorate’s level personnel. In addition, senior researchers and researchers of LOTTE Chemical will also participate as members. LOTTE Chemical Basic Materials Division President Hwang Jin-koo stated, “It is difficult for a company to solve the formidable challenge of realizing carbon neutrality alone,” adding, “We will create the two solutions of procuring future technologies and finding talented human resources through R&D on key eco-friendly technologies together with KAIST that is made up of the nation’s best researchers.” KAIST President Lee Kwang Hyung commented, “The carbon neutrality issue represents the birth of a new international order and it may serve as a national crisis or opportunity.” He further explained, “By preemptively procuring future technologies and fostering creative personnel, we will take the initiative in solving the global crisis together with LOTTE Chemical and create opportunities for national development even in the new world order.” Meanwhile, LOTTE Chemical plans to speed up the pursuit of commercialization by quickly procuring future business capacities such as hydrogen, carbon neutrality, batteries, bio, etc. in addition to its existing petrochemical business unit by reinforcing open innovation research activities with the best domestic and foreign universities, research institutes, and companies in each sector including this research investment with KAIST. For this, in order to make it possible for the Basic Materials Research Institute and Magok Innovation Center to respond to market changes with agility and flexibility, organizations in existing business sectors were abolished and switched to agile small project teams that can concentrate exclusively on researching different items.
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