Nongshim Co., the No. 1 player in the domestic ramen market, is setting its sights on the global market. The company is developing instant noodle products that can fascinate consumers in overseas markets.The Korean ramen market in the third quarter amounted to 1,473.4 billion won, up 4.5 percent fro
Global luxury resort brand Capella Hotels & Resorts broke ground for Capella Yang Yang, its first luxury beach resort in Korea, at Songjeon Beach in Yangyang County, Gangwon Province, on Oct. 27.Some 500 people attended the groundbreaking ceremony, including Kim Jin-ha Kim, governor of Yangyang, Kim
Economic organizations expressed concerns on Oct. 27 over the Supreme Court’s ruling that dispatched workers at Hyundai Motor Co. and Kia Corp., who had worked for more than two years in 'indirect manufacturing processes' that do not directly involve conveyor belts, should be directly hired
DL E&C (formerly known as Daelim Industrial) is ranked third in the Korean construction company capability rankings, but it has been stigmatized as the construction company with the highest number of fatalities.The builder had four fatal accidents for four consecutive quarters -- in October 2021 and
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Recommend BUY, TP of KRW30,000 We maintain BUY on GS E&C but lower our TP by 35.5% to KRW30,000 (0.48x 12m fwd P/B) to accommodate a rise in COE (10.4%→11.2%) and a decline in ROE (8.6%→7.3%) following ea
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Maintain BUY but cut target price to KRW45,000 We maintain BUY on Hyundai E&C but cut our TP by 18.2% to KRW45,000 (0.62x 12m fwd P/B) to reflect an increase in COE (9.1%→10.0%) and decline in ROE (7.8%→7
KT&G has expanded the overseas markets for its cigarette-type e-cigarette Lil to 30 countries through global cooperation with Philip Morris International (PMI).The two tobacco giants signed a product supply contract for overseas sales of Lil in 2020 and introduced the product to Russia, Ukraine and
Dong-A ST announced on Oct. 26 that it would purchase treasury stocks worth 10 billion won to enhance shareholder value.The stock repurchase plan will be implemented immediately beginning from Oct. 27. It will be carried out four times in a one-year period. The purchase method is a direct acquisitio
Celltrion Healthcare is in dispute with the U.K. government over a "penalizing rebate."The U.K. government introduced the Voluntary Scheme for Branded Medicines Pricing and Access (VPAS) in 2019, which requires pharmaceutical companies to pay a percentage of their net sales of certain products to th
Lawmaker Kim Seung-soo remarked on Oct. 25 that Netflix Korea’s 2019 to 2021 sales amounted to 1.233 trillion won and 77.8 percent of the sales were sent to its parent company in the United States. “The figures were 185.9 billion won and 65.7 percent in 2019, 415.5 billion won and 77.1 percent in 20
SK Bioscience is preparing for another technological leap in vaccine R&D. It is planning to secure an mRNA vaccine platform to quickly respond to infectious diseases in cooperation with international organizations.SK Bioscience signed a grant agreement with the Coalition for Epidemic Preparedness In
EOFlow Co. announced on Oct. 25 that it has received certification from the Ministry of Health of Indonesia to commercialize its wearable insulin pump ‘EOPatch’ and its controller ‘ADM’. Its smartphone app ‘Narsha’ does not require an approval from the ministry.On December 2021, EOFlow announced tha
Boryung (formerly Boryung Pharmaceutical) announced on Oct. 25 that it has signed an asset acquisition agreement for ‘Alimta (API: pemetrexed)’, a non-small cell lung cancer (NSCLC) treatment, with Eli Lilly and Co. The completion of this transaction is subject to customary regulatory reviews and cl
A Korean Air passenger plane with 162 passengers on board deviated from the runway at Cebu International Airport in the Philippines on Oct. 23. Korean Air said no one was hurt in the accident, which was caused by a brake system failure.The Korean Air flight KE631 veered away from the runway, overran
EOFlow Co., a provider of wearable drug delivery systems (DDS), announced on Oct. 24 that it would invest 36.9 billion won in its U.S. subsidiary EOFlow, Inc.The majority of this investment in EOFlow, Inc., approximately 31 billion won, will be used for collecting loans given by EOFlow to its U.S. s
Pernod Ricard Korea announced on Oct. 21 that it has selected Ananti's Hawkeye team, which has planned the ‘Cabinet de Poisson’ project with the aim of a sustainable environment, as the winner of the ‘Aberlour Craftsmanship Award’.‘Cabinet de Poisson’ is Ananti's eco-friendly project for a s
SK bioscience announced on Oct 21 that it has hired Harry Kleanthous, senior program officer of the Bill & Melinda Gates Foundation, as vice president of vaccine R&D strategy and external innovation of SK bioscience USA, its U.S. subsidiary.Kleanthous has served as vice president of Acambis Inc., a
Incheon Free Economic Zone (IFEZ) Authority announced on Oct. 21 that it will hold an international symposium on smart city online at the Gyeongwonjae Ambassador Incheon Hotel in Songdo International City, Incheon on Oct. 25.This annual symposium marks its fifth anniversary this year and will consis
HK inno.N announced on Oct. 20 that Braintree Laboratories, its U.S. partner, has received approval for a phase 3 clinical trial plan for tegoprazan, the ingredient name of its new drug K-Cab Tab., from the U.S. Food and Drug Administration (FDA) and has started the final clinical trial. Braintree L
Hyundai E&C announced on Oct. 19 that it has held a ceremony with its partner Holtec International of the United States to initiate detailed design and commercialization of the SMR-160, a small modular reactor designed by the U.S. company.At the end of last year, Hyundai E&C and Holtec signed a coop