[By NBC-1TV H. J yook]Lockheed Martin [NYSE: LMT] is expanding relationships with Korean universities to establish a local science, technology, and research investment fund to benefit students, universities, and industry in the region.

The Republic of Korea Science, Technology and Research (RoKST&R) program is now holding an open competition for proposals in the areas of aeronautics, space, sensors, flight sciences, modeling and simulation, training, and emerging technologies in renewable energy generation and nanotechnology. The deadline for submission is June 4, 2014.

“Entrepreneurship is a prerequisite to launch Korea’s creative economy,” said Dr. Ray O. Johnson, Lockheed Martin senior vice president and chief technology officer. “Through direct investment and hands-on mentoring, we want to inspire students and nurture university projects that could become the next generation of technological advancement and innovation.”