On March 15, Chong Kun Dang announced that as part of the Harvard Business School's 'Korea Trek 2024' program, 55 students visited its headquarters on March 13th.The Harvard Business School Korea Trek is a training program that introduces students to Korean culture, society, industry, and history. I
Big South Korean companies are exiting China one after another. Business uncertainties are being fueled by fiercer competition and declining profitability in the Chinese market coupled with the U.S. government’s checks on China and policy changes by Chinese government authorities.Lotte Chemical sold
Pharmaceutical companies are expanding their presence into Southeast Asia, particularly Indonesia and Vietnam. There is a high preference for Korean products and a high growth potential in these markets, leading to strong optimism about the possibility of expansion. Among these countries, Indonesia
Hyundai Motor Group has sold its Chongqing plant in China for about 300 billion won. This has reduced the number of production bases in China from five to three since Hyundai entered the country in 2002. The decision was made to reorganize the structure of its Chinese business, thereby boosting its
Chong Kun Dang Pharmaceutical, a leading biotechnological and pharmaceutical company in South Korea, is poised to achieve a nearly sevenfold increase in operating profit in the fourth quarter of last year compared to the same period the previous year. This remarkable growth is attributed to the tech
Forbes today unveiled its 2023 Asia’s Power Businesswomen list, honoring 20 successful female leaders across the Asia-Pacific region, who operate in a broad range of industries including finance and banking, property, technology and commodities. The complete list can be found in the November issue o
Chong Kun Dang announced on Nov. 6 that it has entered into a technology export agreement with Novartis worth US$1.305 billion for its new drug candidate CKD-510.Under the agreement, Novartis obtains exclusive rights outside of South Korea for the development and commercialization of CKD-510, a low-
Hyundai Motor and Toyota, two major players that have been struggling in the world’s largest automobile market, China, are taking different paths. Hyundai Motor has recently considered outsourcing local car brand production as it played its “sell Chinese factories” card. On the other hand, Toyota ha
Beijing Hyundai, a joint venture between Hyundai Motor Company and its Chinese partner, has lowered its asking price for the Chongqing factory by 30%.According to reports by Reuters and local Chinese auto media outlets on Oct. 9 (local time), Beijing Hyundai specified in the documents submitted to t
Amid the so-called “Huawei Shock,” with the company launching its Mate 60 Pro smartphone equipped with a 7-nm semiconductor, the U.S. is tightening its stance on China. Observers are now keenly watching how far the repercussions of this tension between the two giants will spread.As the end of the U.
On Sept. 20 (local time), the Chong Kun Dang Kochon Foundation announced that it had held the “17th Kochon Prize Ceremony” at the U.N. Headquarters in New York on Sept. 21.This year, the Kochon Prize focused on the theme of “Recognition for medical professionals who do not give up on tuberculosis tr
Chey Tae-won, chairman of SK Group, visited the Yongin Semiconductor Cluster construction site in Yongin City, Gyeonggi Province, on Sept. 15 and described it as “the most strategic and planned project in SK hynix’s history.” SK hynix had previously decided to invest 120 trillion won in 2019 to buil
On Aug. 30, CKD (Chong Kun Dang) Healthcare announced that its PKG Identity Design project won a silver award in the packaging category at International Design Excellence Award (IDEA) 2023. IDEA is a prestigious design competition in North America initiated in 1980 and organized by the Industrial De
Samsung Heavy Industries has completed the shutdown of its local production subsidiary in China, Samsung Heavy Industries Ningbo Co., Ltd. This move comes as cost competitiveness in China has weakened due to reduced productivity and rising labor costs, eliminating the need for manufacturing faciliti
Hyundai Motor has started the process of selling its Chongqing factory in China, which has been non-operational for over a year. This is the second such move after it sold its Beijing 1 factory in 2021. Hyundai also plans to halt operations and prepare for the sale of its Chengzhou factory, one of t
An alarm bell has sounded in Korea’s auto parts industry with China’s entry into a deflationary phase. Some companies are selling off their local subsidiaries in China or drastically downsizing their operations as demand for new cars has fallen in the country.According to the electronic disclosure s
On Aug. 11, Cosmax, a global cosmetics R&D and production (ODM) company based in Korea, held a ceremony to celebrate the completion of a joint venture factory with Yatsen. It is the largest single cosmetics factory in Asia. With the new plant, Cosmax will expand its presence in the Chinese market.Th
GC Biopharma’s and SK plasma’s entries into Indonesia will accelerate this year. GC Biopharma is expected to finalize all procedures within this year after receiving approval for business rights related to the construction of a blood product factory and a technology transfer from the Indonesian gove
Samsung Display has filed a patent infringement lawsuit in the U.S. against Chinese display manufacturer BOE. As technology infringement from China intensifies, spreading to appliances, smartphones, and now displays, Samsung Display has decided to take a firm stand.According to the industry on July
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.In the early hours of Mar 13, a fire at Hankook T&T’s Daejeon plant shut down production lines. For the time being, the company can sustain shipments by tapping into inventory. The impact of the fire will d