The Sungkyunkwan University’s Research & Business Foundation signed an MOU with Versitech Ltd on September 5 (wednesday) at the SKKU Natural Sciences Campus to establish a cooperation for technology commercialization and academic-industrial cooperation. Under this agreement, the two universities will cooperate in advancement of excellent intellectual property rights into the global market.

Versitech LTd was founded in 1994 by Hong Kong University for technology transfer and technology commercialization. It has abundant technology transfer experience with overseas leading companies. Hong Kong University is Hong Kong's first higher education institution and is the 20th largest research university in the world.

At this event, SKKU and Hong Kong University shared best practices of technology commercialization such as large-scale technology transfer contracts, patent infringement lawsuits, and know-how on intellectual property rights management, and discussed ways to develop academic-industrial cooperation to secure global market competitiveness.

"I think that this agreement will be a stepping stone for us to actively pursue the global market by combining the technology commercialization know-how and research capabilities of both universities have," said Ji Beom YOO, executive vice president of SKKU.

Andy HOR, the vice president and pro-vice-chancellor of research at Hong Kong University said, "Through the partnership between SKKU and Hong Kong University, I think intellectual property rights of the two universities will have a strategic bridge to go beyond the Korean and Chinese markets to the world.”