Tom Connelly, executive vice president and chief innovation officer, and Carl Lukach, president, East Asia joined employees of the DuPont Korea Innovation Center on June 2, to celebrate its first anniversary.
During the celebration, Tom shared the difference between invention and innovation. He said inventions occur in laboratories while innovation takes place in the marketplace. In other words, an innovation hasn't occurred until its value has been captured.
"Each Innovation Center was set up to serve the local market. The focus of the Korea Innovation Center was on electronics, automotive and energy,” said JT Rim, president, DuPont Korea. “It is quite encouraging to find that the Center has identified new projects of approximately $10 million worth of development opportunity revenue."
As a result of these efforts, new products were already commercialized, including DuPont™ Corian® solid surface with LED technologies for consumer electronics and building interiors, and sports nutrition application development with Solae™ soy protein product. A project with Hyundai Motors also is in progress on the application of various structures and components made with lightweight engineering plastic materials for the automotive industry.
"During the past year, we have received 236 companies and 803 guests from various industries. We exchanged new ideas and offered solutions based on our new and wide range of products and technologies,” said SY Lee, leader of the Korea Innovation Center.
The Korea Innovation Center was DuPont’s first Innovation Center. It was set up to serve the unmet needs of local customers and business partners in a more responsive and collaborative way. It plans to expand its focus to food and construction industries, in addition to automotive, electronics, and energy.