SK bioscience introduced a new global partnership model at the Riyadh Global Medical Biotechnology Summit 2023 (RGBMS 2023), which took place from Jan. 25-26 at Hilton Riyadh Hotel in Riyadh, Saudi Arabia.The company's president Ahn Jae-yong shared the successful development history of Korea'
Morgan Stanley said in its recent report that South Korea has become the country with the largest luxury goods consumption per capita based on a surge in real estate prices.According to the report, the consumption per capita in South Korea was US$325 last year whereas those of the United States and
HK inno.N has licensed out K-CAB, a novel drug for GERD that has Tegoprazan as its active ingredient, to Eurofarma, a major pharmaceutical firm in Brazil, the company announced on Jan. 26.Eurofarma is the third-largest pharmaceutical firm in Latin America, with operations in 20 different countries i
Daewoong Pharmaceutical's botulinum toxin “Nabota” (export name: Nuceiva) obtained approval from Australia on Jan. 13, the company announced on Jan. 25.Nabota has been approved in 61 countries around the world, including Australia. Now Daewoong aims to make its botulinum toxin available in more
Teatra, a tea brand operated by SPC Group, has won the Superior Taste Award at the 2023 ITI International Food & Beverage Fair.The ITI International Food & Beverage Fair is an annual event held by the International Taste Institute (ITI), a food and beverage quality evaluation agency located in Bruss
Samsung Electronics and LG Electronics are working on special measures to cope with the steep drop in sales of home appliances.Samsung Electronics has recently divided the Kitchen and Living Development Groups under the Development Team of the Home Electronics Division into five development groups -
SPC Group announced on Jan. 19 that it opened the first branch of Paris Baguette Malaysia in Kuala Lumpur, the capital of Malaysia.The opening of the branch came six months after the establishment of Berjaya Paris Baguette, a joint venture between SPC and its Malaysian partner Berjaya Group, in June
Kolmar Korea announced on Jan. 19 that its research on correlations between androgenic hair loss and intestinal and scalp microbiomes has been published in the Frontiers in Microbiology journal.Androgenic hair loss is one of the most frequent types of hair loss and is characterized by hair becoming
Korea’s wine imports hit an all-time high in 2022. Although the amount of imports decreased somewhat, imports of high-priced products expanded, driving up the import value to a new high.According to the Korea Customs Service’s trade statistics system on Jan. 18, Korea imported US$581.27 million (abo
Harmful substances have been detected in some of Nongshim's Shin Ramyun products exported to Taiwan.The Taiwan Food and Drug Administration (TFDA) announced on Jan. 17 that harmful pesticide residues were detected in a bowl of Shin Ramyun Black Tofu Kimchi and called the product unsuitable for i
Interpark announced on Jan. 18 that the number of South Korean travelers who visited Japan by purchasing flight tickets it sells increased 37,943 percent year on year in the period of Oct. 11 last year to Jan. 11 this year.According to the company, the number increased 384 percent and 68 percent com
Medytox announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Dubai Science Park (DSP) to build a botulinum toxin plant in Dubai, the United Arab Emirates.DSP is owned by Tecom Group, a state-run company in Dubai. A signing ceremony was held on the sidelines of the Korea-U
Coway Co. announced on Jan. 16 that the company's Neo Plus Water Purifier CHP-264L has obtained the NSF-JWPA P508 certification from NSF for its water filtration ability in low-water pressure areas. This makes Coway the world’s first water purifier manufacturer to receive the NSF-JWPA P508 certi
Lotte Biologics will invest an additional 1.2 trillion won to build one more CMO plant in Korea. The company will have a total of three CMO plants in Korea. It also plans to create a bio campus around the three plants to provide drug developers with one-stop service from clinical tests to commercial
HK inno.N announced that its gastroesophageal reflux disease treatment K-CAB Tab has been approved by the Health Sciences Authority of Singapore on Jan. 11.According to approval documents, the drug has four approved indications – the treatment of erosive gastroesophageal reflux diseases, the treatme
Samsung Biologics shared its 2023 business plans and vision at the 41st Annual J.P. Morgan Healthcare Conference, which took place between Jan. 9-12 in San Francisco, California, USA. During the main track presentation on Jan. 12, John Rim, CEO and president of Samsung Biologics, said the company wi
Samsung Biologics, a leading contract development and manufacturing organization (CDMO), has received the Sustainable Markets Initiative’s Terra Carta Seal, the company announced on Jan. 11.The Terra Carta Seal, launched at COP26 by His Majesty King Charles III when he was Prince of Wales, recognize
For the upcoming Korean New Year, Pernod Ricard Korea has introduced whisky gift sets tailored to many different lifestyles and tastes of recipients, from whisky aficionados and for those that gift-giver wants to express gratitude and respect. Pernod Ricard offers and expands the range of options fo
Korea Ginseng Corp. (KGC)’s red ginseng brand, CheongKwanJang, has kept its No. 1 position in the global ginseng market for 10 years running. KGC is gradually expanding its markets from China, Taiwan and Southeast Asia to Europe and the Middle East.The global ginseng retail market in 2022 was estima
EOFlow Co., a provider of wearable drug delivery systems, has partnered with Diabeloop, a French company developing diabetes automated treatment solutions, to provide patients with convenient access to EOFlow’s EOPatch system combined with an automated insulin delivery (AID) system.EOFlow and Diabel