New drug development at Hanmi Pharmaceutical, an icon of the Korean pharmaceutical industry, is at a standstill, raising questions about the company’s drug development capabilities.Currently, the company’s pipeline has 28 new drug candidates. Although the number increased by five from 23 in early 20

The Korea Customs Service (KCS) has launched an investigation into Heineken Korea Co. for alleged manipulation of beer import prices, according to a report by the Maeil Business Newspaper on Jan. 17.The report says Heineken Korea is expected to face a fine of more than 10 billion won (US$8.90 millio

Samsung C&T Corp. has recently sold off its solar power plants in Bulgaria, continuing its move to secure cash by selling its assets at home and abroad.Investment banking (IB) industry sources said on Jan. 17 that Samsung C&T, the de facto holding company of Samsung Group, recently sold seven solar

Korea Aerospace Industries Ltd. (KAI) is planning to develop a new mid-size civilian airplane with less than 100 seats in consideration of the rapid growth in civilian aircraft market in Northeast Asia.The plan was disclosed by KAI CEO Kim Jo-won who held a press conference under the theme of “aeros

Lotte Advanced Materials, a subsidiary of Lotte Chemical, has made the leap to one of the world's top five engineered stone (artificial marble) companies by completing an M&A deal worth 123.4 billion won (US$110.1 million).Lotte Chemical announced on July 17 that Lotte Advanced Materials will ac

Hyundai Mobis and KT Corp. have teamed up to develop autonomous drive and connected car technologies based on fifth generation (5G) mobile telecommunications.The two companies launched a 5G telecommunications network at the Hyundai Mobis Driving Test Center in Seosan, South Chungcheong Province, on

LG Chem has teamed up with its foreign partners, including IBM and Ford, to establish a blockchain platform to trace cobalt.Industry sources said on Jan. 17 that five companies -- LG Chem, IBM, Ford, Huayou Cobalt of China, and RCS Global of the United Kingdom -- recently agreed to launch a blockcha

Photo caption:LG Chem will establish an advanced cobalt supply chain based on blockchain technology with its foreign partners, including IBM and Ford.Industry sources said on Jan. 17 that five companies -- LG Chem, IBM, Ford, Huayou Cobalt of China, and RCS Global of the United Kingdom -- recently a

SsangYong Motor has decided to increase capital by 50 billion won (US$44.5 million) by issuing new shares to its majority shareholder, Mahindra & Mahindra Ltd. of India.The automaker will issue 11.89 million new shares, which represent 8.6 percent of the total number of shares issued before the capi

A fierce air conditioner war is underway in the middle of the winter. In particular, this year’s editions can speak on their own as they are based on more advanced artificial intelligence (AI). They can also block fine dust, which has emerged as a big health problem.LG Electronics fired the first sa

Kia Motors has decided to produce 50,000 units of its popular compact crossover Soul at its factory in Georgia, the United State. The Soul model to be produced in the U.S. plant will be loaded with a 2.0-liter petrol engine. Production will start in mid-July of this year.Currently, all of the Soul m

Deputy Prime Minister and Minister for Economy and Finance Hong Nam-ki said that the government will increase the number of hydrogen fuel cell electric vehicles (FCEVs) in use in Korea from about 2,000 in 2018 to 80,000 units in 2022.Hong disclosed the plan during the first innovation growth strateg

The domestic biotech industry has been growing rapidly in recent years. Since 2016, Korea's biopharmaceuticals exports have surpassed imports. Biopharmaceuticals are pharmaceuticals made from materials derived from human or other organisms. Examples are biologics, genetically modified drugs, cel

Hyundai Motor and Kia Motors had their presence felt at the 2019 North American International Auto Show by unveiling strategic new models. After the “Genesis G70” and the small SUV “Kona” were selected as the North American Cars of the Year on Jan. 14, the automakers added new SUVs and high-performa

Kolon Life Sciences said on Jan. 14 that it has signed an agreement with Mundipharma of the United States to export 100 billion won (US$89.75 million) worth of Invossa, the world's first cell and gene therapy for osteoarthritis, to nine countries.Under the terms of the agreement, Mundipharma wil

Samsung Venture Investment, an investment arm of Samsung Electronics, has made an equity investment in a Chinese diabetes management platform startup.Investment banking industry sources said on Jan. 14 that Samsung Venture Investment took part in the US$100 million Series C fund which was recently e

Samsung SDI showcased its next-generation battery technologies, including a roadmap for all-solid-state batteries, at the 2019 North American International Auto Show (NAIAS 2019) held in Detroit, the United States on Jan. 14 (local time).A solid-state battery represents a new battery technology that

Global auto component producer Mando Corp. will spin off its advanced driver assistance systems (ADAS) division, which is in charge of developing core technologies for future cars, in order to strengthen its research and development (R&D) capabilities.The company announced on Jan. 14 that it will st

LS Cable & System Ltd. is believed to have attained 4 trillion won (US$3.56 billion) in sales last year for the first time in five years after 2013.The company’s cumulative sales as of the third quarter last year stood at 3.05 trillion won (US$2.72 billion), exceeding 1 trillion won (US$890.08 milli

South Korea’s shipbuilders have started off the year with good news. They have continuously won new orders since the beginning of the year, making industry analysts feel hopeful for the year ahead. Hyundai Mipo Dockyard Co. has received an order for four medium range (MR) tankers from Central Shippi