ZYX Technology CEO Choi Jong-bok (left) and Jung Sung-taek, president of Chonnam National University, pose for a photo at a signing ceremony at the university on Thursday. (ZYX Technology)

South Korean design software developer Zyx Technology announced Friday that it has signed a memorandum of understanding with Chonnam National University, aiming to foster tech talent and strengthen collaboration.

Under the agreement, the company said it will provide academic support, including free access to cutting-edge design software and opportunities for joint research and development of artificial intelligence software.

As a member of the Innobiz Association, Zyx Technology has developed a versatile computer-aided design software, dubbed ZYX CAD. By offering licenses worth 1 billion won ($711,700), 500 students and faculty members at Chonnam National University will have free access to ZYX CAD for the next three years, the company said.

ZYX CAD is a domestically made CAD software program registered on the Korea Online E Procurement System, or KONEPS.

According to Zyx Technology, the software leverages multiple central processing units and memory optimization for improved performance. It also features a user interface with commands and shortcut keys compatible with Lisp, which is attractive to potential clients familiar with other CAD programs. Additionally, its CAD application software, Works, helps enhance productivity with more than 300 utility functions, the company added.

"We appreciate the company’s decision to provide our students with this advanced software. It will significantly help them become future leaders in the AI industry," said Jung Sung-taek, president of Chonnam National University.

ZYX Technology said it plans to host ZYX CAD competitions for students in Korea as well as Vietnam.

"Since offering ZYX CAD licenses, we have received positive feedback from students at our partner universities home and abroad," a ZYX Technology official said.