Yeungnam University-‘ISET’ MOU signed, Promise for global cooperation to develop next-generation solar cells
50 million dollar investment, construct solar cell mass-production line in Korea
[February 18, 2011]

 Yeungnam University (president Lee, Hyo-soo) won direct investment in Korea by a US company specializing in solar cells to construct a domestic solar-cell mass-production line.

 On the 15th, Yeungnam University signed an MOU on FDI (foreign direct investment of ISET (International Solar Electric Technology) with ISET and K&K Solar (Korean investment corporation of ISET) at the headquarters of ISET located in Chatsworth, a city located northwest of LA. Through this, it will receive 50 million dollars in investments.

 
 MOU signing ceremony of Yeungnam University-ISET-K&K Solar
(from left to right, Kim, Young-sik, chairman of K&K Solar, Jung, Jae-hak, director of the Yeungnam University Regional Innovation Center for Solar Cell & Module, Kapur, chairman of ISET, Park, Jin-ho, Yeungnam University director of the Institute of Solar Energy and Solar Cell Materials and Process R&D Workforce Cultivation Program)

 ISET is a company that possess the sole technology for printable CIGS (copper, indium, gallium, selenium) thin-film solar cells. It was established in 1985 and recently, it is planning to construct a global production line.

 Its first overseas project is to construct a mass-production line in Korea. For this, in November of last year, ISET participated in the GGECN (Global Green Energy Cluster Network) that promised global cooperation among solar cell cluster institutes of Korea, US, France, Germany and Australia in the green energy sector at Yeungnam University. This time, an MOU was signed directly with Yeungnam University.

 Accordingly, Yeungnam University\'s RIC for Solar Cell & Module (Regional Innovation Center, director Jung, Jae-hak), Institute of Solar Energy (director Park, Jin-ho), and Solar Cell Materials and Process R&D Workforce Cultivation Program(director Park, Jin-ho) were chosen as business partners to pursue the construction of the domestic mass-production line of low-cost, high-efficient CIGS thin-film solar cells developed by ISET. In addition, it is expected that they will conduct close mutual cooperation for industry-academic joint research and Recruitment of R&D personnel with Yeungnam University.

 Dr. Vijay K. Kapur, chairman of ISET, stated, \"It is an epochal opportunity for ISET\'s new solar energy technology development experience to meet the outstanding human resources of Yeungnam University, which represents Korean research sector of solar cells. \" adding, \"This cooperation will be a new page in history to construct a low-cost, high-efficient production line, to create global jobs, and to construct a highly profitable solar cell system.\"

 Meanwhile, this MOU was made possible through the cooperation of KOTRA (Korea Trade-Investment Promotion Agency) LA branch and DGFEZ (Korea\'s Daegu Gyeongbuk Free Economic Zone), receiving considerable media coverage from the local press.