University of Ulsan signed 1 billion KRW Fund Agreement with Equinor’s Bandibuli Project in Oslo, Norway

Under this agreement, Equinor will invest 1 billion won to establish a regional industry development fund, one of the University’s Glocal university projects*. Through this fund, the two organizations plan to promote joint research and development, such as the development of a marine maintenance personnel health checkup program and research and development of a telemedicine diagnosis system for maintenance vessels and will also cooperate in training next-generation offshore wind farm technical personnel.

President Oh Yeon-cheon of University of Ulsan said, “This agreement will strengthen university’s capabilities as a Glocal university and will be an opportunity to create synergy between the university and company through infrastructure linkages such as the involvement of university hospital.” Torgeir Nakken, project director of Bandibuli Floating Offshore Wind Project, responded, “This is a great opportunity to jointly develop the technology needed to build a floating offshore wind farm and foster talent.”

The day after the agreement was signed, on August 21st, an industry-academia cooperation seminar was held at Equinor’s Research Centre in Trondheim. The seminar, organized by Equinor’s Technology and Digital Innovation Department, focused on the theme of “Transformation through Technology” and introduced the latest technologies and trends at Equinor.

Through this agreement, the two organizations plan to strengthen industry-academia cooperation for fostering local industries and further accelerate future technology development and talent cultivation.

*The Glocal University 30 Program is a policy initiative by the Ministry of Education that aims to designate and support 30 universities outside the capital region as “Glocal Universities” by 2026.