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LG Chem partners with Seoul National University to develop green biotech products

Collected: 2016.12.20

Distributed: 2016.12.22

Source: Go Direct

Park Jin-soo, CEO and vice chairman of LG Chem (right), and Jeong Cheol-young, Dean of the College of Agriculture and Life Science at Seoul National University sign an MOU on research cooperation. [Photo by LG Chem]

South Korea’s LG Chem Ltd. has joined hands with the College of Agriculture and Life Science (CALS) of Seoul National University to develop green biotechnology applications.

LG Chem said on Monday it signed a memorandum of understanding under which it will invest 5 billion won ($4.21 million) into the college’s research projects to develop seeds, crop protection and other green biotech products over the next five years.

Green biotechnology refers to biological techniques to new varieties of crops with the aim of improving the nutritional quality, quantity and production economics compared with red and white biotechnology, which refers to the areas of medicine (red) and industry (white).

LG Chem acquired South Korean agrochemical company Dongbu Farm Hannong early this year to enter the green biotech market. Pharm Hannong is the country’s largest player in crop protection products and the second largest in seeds and fertilizers.

By Jung Wook

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