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
Samyang Biopharm announced on August 17 that the company received a permission to sell multiple myeloma remedy 'Lenalid based on Lenalidomide' by developing it in the form of tablets.Lenalid is a generic version of 'Levlimid Capsule' sold by Celgene Korea. Compared to existing capsule products, Lena
It has been found that last year, the volume of M&As in the chemical industry was the largest in 10 years. It is said that the chemical industry is a crossroads in its growth due to the creation of new markets through the development of biotechnology (BT) and information technology (IT).Samjong KPMG
It has been found that the four largest petrochemical companies in South Korea are planning to make an investment of approximately 10 trillion won (US$9 billion) in total this year, up more than 20% from a year ago.Specifically, LG Chem’s capital expenditure for this year is estimated at 2.7 trillio
Much attention is now paid to whether Coupang, the largest e-commerce platform in South Korea, will be listed on the KOSDAQ as the first Korean version of Tesla. As the company raised 1.1 trillion won (US$975.61 million) of investment from Japanese telecommunication giant SoftBank in 2015, its corpo