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International innovation receives boost with new UK-Korea agreement

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-Imperial College Korean Society
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For immediate use
Wednesday 28 September 2005

An agreement to work together to promote scientific innovation and entrepreneurship is signed today by Imperial College London and the Korea Technology Foundation (KOTEF).

The agreement will promote closer ties between Imperial and Korean researchers through a programme of postgraduate scholarships and exchange visits. It is hoped that the relationship will form the foundation for closer collaboration between Korean industry and Imperial.

The agreement will enable Korean postgraduate students, sponsored by KOTEF, to study at Imperial, focusing specifically on MBA studies and programmes in the physical sciences and engineering.

The Imperial-KOTEF Scholars will have the opportunity to develop their knowledge and skills in innovation, management of technology, entrepreneurship and new product development in emerging technologies.

They will also be encouraged to become involved in hands-on projects that give them experience of the interdisciplinary aspects of early-stage technology development and its translation into practical applications. Sir Richard Sykes, Rector of Imperial, said:

"Nurturing and supporting scientific talent is vitally important if we are to bring forward the next generation of inventors and innovators. I am delighted that Imperial is working with KOTEF to encourage young Korean researchers and hope this will be the start of a long and fruitful relationship."

Bong-Kyo Park, President of KOTEF, said: "KOTEF believes that collaboration between industry and academia is the key to promoting innovation. An important part of this is educating Korean managers, scientists and entrepreneurs. As an institution at the forefront of technology and business innovation, Imperial College is the ideal partner."

The agreement will take effect in the academic year 2006-07, when KOTEF will provide four scholarships for Korean students, subject to the satisfaction of Imperial's admissions criteria. There are currently around 100 students from the Republic of Korea studying at Imperial.

For further information contact:

Abigail Smith
Imperial College London Press Office
Tel: 020 7594 6701

Notes to editors:

About the Korea Industrial Technology Foundation (KOTEF)

The Korea Industrial Technology Foundation (KOTEF) was founded with the aim of strengthening the technology industrys innovative capacity and to heighten public awareness of technology. Since then, it has evolved to play a central role in establishing the nations technology infrastructure. Today, KOTEFs role in promoting industrial technology in Korea can be summarized in five goals: promoting industrial technology diffusion; industrial technology networking; human resources development and education; technology policy research; and international cooperative activities.

About Imperial College London

Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality.
Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture.