SK Biopharmaceuticals has established Ignis Therapeutics, a central nervous system (CNS) pharmaceutical company, with 6 Dimension Capital (6D), a global investment company based in Shanghai.SK Biopharm has acquired a 44.9 percent stake in Ignis Therapeutics by transferring the sales rights in China
LG Energy Solution and Samsung SDI will supply batteries to a large-scale energy storage system (ESS) project in the United States.U.S. renewable energy company Terragen has selected LG Energy Solution and Samsung SDI as battery suppliers in connection with a large-scale solar power and ESS project
A former Hyundai Motor employee who reported safety issues with vehicles from Hyundai Motor Co. and Kia Corp. to the U.S. National Highway Traffic Safety Administration (NHTSA) will receive an award of US$24.3 million.NHTSA announced on Nov. 9 (U.S. local time) that it has paid the award to the whis
The National Pension Service (NPS) of Korea will create a US$1.5 billion joint venture (JV) fund specializing in real estate investment with Tishman Spyre, one of the largest real estate investment companies in the United States.The fund will focus on affordable housing in the United States, which m
The Federation of Korean Industries said in its report on Nov. 10 that South Korea’s exports to and South Korean products’ market shares in India require improvement, with India emerging amid the rivalry between the United States and China.“South Korea’s exports to India have decreased since 2018 an
The Korea Economic Research Institute announced on Nov. 10 that the total deduction and reduction applied to South Korean enterprises’ corporate taxes was equivalent to 8.4 percent of the taxes in 2019 whereas the ratio was as high as 24.8 percent in Japan. It also said that the ratio was 18.6 perce
South Korea’s heavy reliance on Chinese industrial raw materials is posing increasing risks, examples of which include the ongoing urea solution shortage.According to the Korea International Trade Association, South Korea is currently depending on one exporting country for more than 80 percent of it
South Korean Trade, Industry and Energy Minister Moon Sung-wook and U.S. Secretary of Commerce Gina Raimondo had a meeting in the United States on Nov. 9. There, the minister asked the U.S. government to protect the trade secrets South Korean semiconductor companies submitted at the request of the U
SK Group has decided to invest more than US$600 million to build wafer production facilities in the United States. It is the first detailed plan after SK Group chairman Chey Tae-won announced a 60 trillion won investment plan during his recent visit to the U.S.The U.S. Department of Commerce disclos
POSCO has been selected as the "world's most competitive steelmaker" for the 12th consecutive year.World Steel Dynamics (WSD), a world-renowned steel analyst, selected POSCO as the world's best steel company at the 36th Steel Success Strategies held in Miami of the United States for two days
Hyundai Motor Group’s urban air mobility affiliate in the United States has been dubbed Supernal.The group set up the affiliate last year and has since been conducting research and development on electric vertical take-off and landing (eVTOL) vehicles. Supernal means "best quality" and "heavenly." I
Urea solutions are becoming harder and harder to come by in South Korea, and some Chinese news outlets are claiming that China can use urea solutions in order to put pressure on South Korea. They are also claiming that China has to take legal action against Samsung Electronics and SK Hynix for their
CJ CheilJedang announced on Nov. 8 that it will acquire 50,807 shares of Batavia Biosciences, a Dutch biotech (BT) company, for 267.7 billion won to enter the global cell and gene therapy (CGT) contract development and manufacturing market.The scheduled acquisition date is Dec. 31. CJ CheilJedang wi
LG Household & Health Care has won a trademark dispute with Two Faced, a U.S. cosmetics company affiliated with Estee Lauder.The Patent Court of Korea has recognized the legitimacy of LG Household & Health Care's "Born This Way" trademark, which is used for the company's daily beauty product
The Korea Economic Research Institute said in its recent report that South Korea has the strongest tendency of automatic pay increase proportional to the length of service among 28 OECD member states.“In South Korea, a service period increase of 10 years leads to a 15.1 percent pay rise,” it said, a
The IMF said in its recent report that South Korea’s national debt-to-GDP ratio is likely to reach 51.3 percent at the end of this year and 66.7 percent at the end of 2026 and the rate of increase, 15.4 percentage points, is the highest among those of 35 countries classified as advanced economies.Ac
HLB announced on Nov. 8 that its oral cancer drug candidate "Rivoceranib" has been designated as an orphan drug for liver cancer treatment by the U.S. Food and Drug Administration (FDA) on Nov. 4.The FDA operates the Orphan Drug Designation (ODD) program to support the development of orphan drugs.Or
LG Energy Solution will supply batteries to Nikola, a U.S. hydrogen-electric truck company, for eight years from 2022 to 2029.Nikola announced in a third-quarter earnings report on Nov. 4 that it has signed a long-term battery supply contract with LG Energy Solution on Oct. 20. The company kept the
The South Korean government and some local politicians are claiming that South Korea should become a part of the MSCI World Index. Under the circumstances, short selling is drawing attention. This is because the current partial short selling ban must be lifted for South Korea to become a part of the
The Bank of Korea said in its report on Nov. 7 that South Korea is more vulnerable than Japan and China to the ongoing manufacturing production setbacks in Indonesia, Thailand, Vietnam, Malaysia and the Philippines.“The five ASEAN states’ manufacturing production fell 7 percent or so in the third qu