Oct. 15, 2008 -- KAIST and Korea Research Institute of Bioscience and Biotechnology (KRIBB) have agreed to cooperate in the research of convergence fields of biotechnology, information technology and nanotechnology.

To this end, the two institutions concluded a memorandum of understanding to create a new academia-institute cooperative model in the convergence fields on Oct. 15 in Seoul, with KAIST President Nam-Pyo Suh, KRIBB Director Young-Hoon Park and Vice Minister of Education, Science and Technology Jong-Koo Park in attendance.

Under the agreement, the two institutions will set up the tentatively-named KAIST-KRIBB BINT Convergence Institute for the development of technologies and nurturing skilled manpower in the convergence fields.

The partnership of the two institutions is expected to bring broad-based cooperation opportunities and create a massive synergy effect by combining their resources and infrastructure for the development of convergence technologies, KAIST officials said..

The proposed institute is also designed to build a world-class research hub in systems biotechnology by combining strengths of the two institutions with initiatives to achieve the Korean government's new vision for "low carbon, green growth."

The institute will also serve as a base for domestic brain convergence by concentrating the nation's research capacities in genetics and brain technology.

KAIST also signed a memorandum of understanding for cooperation in researches in Oriental medicine with three institutions, KRIBB, Daegu Hanny University and Korea Institute of Oriental Medicine.

The agreement calls for the four institutions to conduct joint researches in traditional sciences and Oriental medicine based on systems biology, develop manpower in related fields and share academic and research information.

The agreement is expected to provide impetus to reinforcing competitiveness in compound and convergence technologies and discover new properties in Oriental medicine, according to KAIST authorities.