SK Telecom Co. will acquire ID Quantique (IDQ), the world's No.1 quantum-safe cryptography solutions provider based in Switzerland.The company announced on Feb. 26 that it will receive 50% majority shares in IDQ with the investment of 70 billion won (US$65.38 million). SK Telecom’s quantum technolog
CJ HealthCare announced on January 31 that it signed a contract with NCPC GeneTech Biotechnology to export CJ-40001, a second-generation erythropoietin (EPO) biosimilar.According to the contract, CJ HealthCare transfers its technology for the production of CJ-40001 to the Chinese company in return f
Yonsei University Medical School professor Kim Hyung-bum and Seoul National University engineering professor Yoon Sung-ro announced on January 30 that their joint research team developed an AI program choosing the most effective gene scissors for cutting different target parts.Gene scissors can be d
The South Korean government is planning to minimize its regulations on gene therapy and organ transplantation. Under the circumstances, research and commercialization of various types of biotechnology, such as CRISPR gene scissors, are expected to be accelerated.Gene scissors are used to cut and cor
Nongshim Co. will set up a joint venture with global food firm Ajinomoto Co. to manufacture Vono Soup in South Korea.The company announced on December 21 that it has signed an agreement to set up a joint venture to produce instant powder soup at the Ajinomoto headquarters in Tokyo, Japan. The signin
Amid local bio pharmaceutical companies’ active development of new drug technologies, the Korean bio pharmaceutical industry shows mixed results in new technology exportation. The technology export of Kolon Life Science’s degenerative arthritis drug “Invossa” worth 440 billion won (US$407.11 million
According to industry sources on December 18, the number of domestic pharmaceutical and biotech companies that are seeking to develop cell therapy products has greatly increased. There are two primary concerns that domestic firms have. First of all, there is an outstanding boom in the development of
Mirae Asset will create 1.8 trillion won (US$1.65 billion) of funds and invest in the project to develop a mega fourth Industrial platform-based complex in Pangyo, south of Seoul. Mirae Asset Global Investments announced on December 11 that it will create real estate funds and enter into a real est
Some analysis says that Korea’s future visions for the 4th industry attract to Korea. Chinese investors have strategized to solidify their positions in the global 4.0 Industry by directly investing in Korea's future industries such as the bio, cultural contents, and information technology (IT) indus
Kang Stem Biotech announced on December 5 that the Ministry of Food and Drug Safety of South Korea approved the initiation of the third phase of the clinical trial of Furestem-AD, the world’s first stem cell-based atopic dermatitis drug it is currently working on.Regarded as a highly innovative new
In the traditional IT sector, Google, Facebook, Apple and so on are already dominant and it is extremely difficult for newcomers to hit the jackpot. This is not so in the biotech and healthcare sector because techniques and solutions for utilizing a huge amount of data have just begun to be develope
An increasing number of KOSDAQ stocks will be traded on the derivatives market from next year in order to revitalize the KOSDAQ market. The Derivatives Market Division of the Korea Exchange (KRX) announced that it will help the National Pension Service (NPS) invest more into the KOSDAQ market and in
Korea and New Zealand celebrated another year of growth, innovation and friendship under the theme of Korea-New Zealand “Inspire with Innovation” at a year-end networking function held at the Four Seasons Hotel Seoul on Wednesday, Nov. 15.The Year End Grand Hui, hosted by the New Zealand Chamber of
There are a growing number of patent applications for “bio-printing” technology which combines 3D printing with biotechnology to produce artificial organs. The reason is that donors are in shortage compared to need for organ donations and the negative side effects of existing organ transplants such
As food-and-entertainment conglomerate CJ Group has decided to sell off its pharmaceutical affiliate CJ Healthcare, bio pharmaceutical affiliates of domestic large businesses are drawing a bigger picture. They have different detailed strategies, such as spin-off, merger and listing, but they have a
China has monopolized global clinical trials in the field of genome editing technology that will dramatically change the bio industry, leading commercialization. With the China’s swift move, biotechnologically advanced countries, including the United States and Europe, have greatly eased gene-relate
The South Korean government held a meeting on September 27 and finalized its biotechnology development plan for the period of 2017 to 2026.According to the plan, the government is going to increase the number of new drug candidates by 100 to 185 in 2026 and help the companies come up with at least f
Toxic substances, such as preservative and disinfectants, had been found in foods imported from China. According to the Ministry of Food and Drug Safety (MFDS) on September 13, six cases of kimchi imported from China were found to contain preservative, including propionic acid and dehydroacetic acid
Chong Kun Dang Pharmaceutical Corp. announced on September 13 that it has signed a joint promotion agreement with Amgen Korea, a local subsidiary of the world’s leading biotech company Amgen, to sell osteoporosis biologic drug Prolia. The agreement comes as the first joint contract made between a mu
After the ruling of the first trial on Samsung Electronics Vice Chairman Lee Jae-yong on August 25, Samsung Electronics has been receiving many inquiries from foreign investors. Not only U.S.-based funds, such as BlackRock and Citigroup, but also Dutch pension funds, which had been against the merge