BASF explores new partnership opportunities in Korea

• Collaboration with the Global Alliance Program Series (GAPS) from the Korea Trade-Investment Promotion Agency
• Program supports Korean start-ups to expand into overseas markets through various partnerships
• Start-ups can sign-up for 2019 GAPS DAY until October 18

Seoul, Korea – October 15, 2019 – In collaboration with the Korea Trade-Investment Promotion Agency’s (KOTRA) Global Alliance Program Series (GAPS), BASF is exploring opportunities to partner with Korean start-ups, companies and research institutes that are looking to expand into the global markets.

“To meet the increasingly stringent environmental regulations and support the sustainable development of the chemical and manufacturing industry, we must accelerate and strengthen our research efforts to develop next-generation material technology,” said Manwoo Lee, Head of Specialty business in BASF Korea. “By building up a cooperative research network with local companies, we aim at developing innovative technologies supported by industry-leading expertise for the growth of the entire industry.”

Through GAPS, BASF will evaluate the opportunities for a variety of partnerships, including joint technical studies, research and development (R&D) projects, and setup of joint ventures. Key areas of interest include technologies that provide greater compliance with low-VOC (volatile organic compounds) emission policies, sensor technology for autonomous driving, and material technology for advanced battery systems.

Specifically, BASF is looking to develop innovative technologies such as new solutions for LiDAR sensors, advanced chemicals for extreme ultraviolet (EUV) photoresists and related materials, coating technology and related materials for superionic conducting in all-solid-state battery systems.

Since 2008, GAPS has been supporting local companies, universities and research institutes to facilitate collaboration with global enterprises for joint ventures, technology transfers, as well as joint research and development projects. With a focus on chemical materials, GAPS aims at helping Korean companies to expand into overseas markets while providing global companies with various investment opportunities in Korea.

2019 GAPS DAY, an information session about the program and participating companies, will be held on October 23 at Yangjae L Tower. Through 1:1 meetings with company representatives and networking sessions, attendees will learn what focus areas global companies such as BASF are interested in.

Online sign-ups for the 2019 GAPS DAY are open until October 18. For companies that are unable to attend the information session but wish to participate in the GAPS program, a separate application will be available until October 31. For more information about GAPS, please visit http://www.kotra.or.kr/kh/about/KHKINY130P.html?SEQ=7613&EVENTID=7613.

About BASF in Korea

BASF has been a committed partner to Korea since 1954. As a leading foreign investor in the chemical industry in Korea, BASF operates eight world-scale production sites in the country. BASF also maintains a research and development center in Suwon and four technical development centers across Korea, and the Asia Pacific headquarters of BASF’s Electronic Materials business is located in Seoul. In 2018, BASF posted sales to customers in Korea of approximately €1.4 billion, and employed 1,182 employees as of the end of the year. Further information is available on the Internet at www.basf.com/kr.

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of around €63 billion in 2018. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.