On July 1 (local time), the U.S. Humira biosimilar market, worth 24 trillion won a year, opened. In the first week alone, six Korean and foreign companies plan to launch their products.According to sources in the biotech industry on July 2, Samsung Bioepis launched Hadlima, a Humira biosimilar, in t
Samsung Display has filed a patent infringement lawsuit in the U.S. against Chinese display manufacturer BOE. As technology infringement from China intensifies, spreading to appliances, smartphones, and now displays, Samsung Display has decided to take a firm stand.According to the industry on July
LG held a two-day venture networking event in Silicon Valley starting on June 26, which involved global startups and venture capitals, to secure future growth engines by expanding the startup innovation ecosystem.This event was the first hosted by LG Technology Ventures, LG’s corporate venture capit
LG Innotek has set up a two-track strategy to ramp up production capacity for budget products at its forward base in Vietnam and focus on high-value-added premium products in Korea. The company announced on June 26 that it will invest 1.3 trillion won (approximately US$1 billion) in its Hai Phong pr
Korean companies are shifting their major patent application destinations from China to the United States, Europe, and Japan, regarded as “allied countries.” This move appears to be a response to the business uncertainties resulting from the U.S.-China hegemony dispute, a reopening effect that has f
Korea’s imports from Japan of high-purity hydrogen fluoride, a key material for semiconductors, have exceeded 1,000 tons for the first time since Japan’s economic retaliation against Korea in July 2019.According to the Korea Customs Service on June 21, Korea’s imports of hydrogen fluoride stood at 1
SK hynix announced today that it has received the automotive ASPICE1 Level 2 certification, marking the first case that a Korean semiconductor company wins the recognition.The certification, essential for automotive NAND solution products, is expected to lead to an increased supply and stronger prof
Korea Expressway Corporation announced on June 16 that it participated in the opening ceremony of the 66 km Almaty Ring Road in Kazakhstan and began operation and maintenance of it.About 500 people attended the opening ceremony, including Kazakhstan’s Minister of National Economy Kuantyrov Alibek Sa
Last month, while imported car sales decreased compared to the previous year, the sales volume of high-end models priced over 100 million won (US$77,892) increased. This indicates an ongoing preference for luxury vehicles among high-income earners, who continue to accelerate their efforts in the Kor
The Fair Trade Commission (FTC) announced on June 18 that it has decided to impose a correction order and a fine on GM Asia Pacific for running promotional discount events without consulting local dealerships.GM Asia Pacific, a 100% subsidiary of General Motors (GM), which imports and sells Cadillac
The number of vehicles recalled in Korea since 2017 crossed three million in 2022. By mid-June of this year, 700,000 vehicles were already recalled. Some of these recalls were voluntarily carried out by car manufacturers while others were ordered by the government through the Automobile Management A
Samsung and LG are showing mixed results in the automotive electronics domain that both companies have chosen as their new growth drivers. Samsung has spent an astronomical amount of money, close to 10 trillion won, to take over Harman, but has not been able to generate much synergy with the company
South Korea’s labor unions have proposed a 24.7% increase in the minimum wage for next year.This proposition comes as the country’s minimum wage, which is already the highest in Asia, is set to exceed that of France, placing it among the top tier in Europe alongside the U.K., Germany, and the Benelu
The world's first four-wheeled robot that can freely climb stairs, a drone managing Lotte World Tower, the tallest building in Korea, and an AI-based music service platform are all products of startups that Hyundai Motor Group has invested in.The Hyundai Motor Group announced on June 15 that it
In the fiercely competitive landscape of South Korea's 5 trillion won burger market, Shake Shack, a front runner in the premium burger sector, is setting out to solidify its top position.According to market research firm Euromonitor on June 15, the domestic burger market, worth 2.6 trillion won
Korean credit card companies are growing fast in Southeast Asia. KB Card has risen to the top of the local car installment market share standings in Cambodia since making a foray into the country four years ago. Shinhan Card is also earning billions of won from its installment business in Vietnam an
The author is an analyst for NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.For SK hynix, inventory restocking orders have started to materialize from some customers. With the inventories of memory makers trending down, industry conditions are forecast to improve in earnest fr
Mr. A, a former Samsung employee who worked at Samsung Electronics’ semiconductor division for 18 years and even served as a vice president at SK hynix, stole design data on a semiconductor plant, a trade secret and Korea’s core national technology. He planned to build a replica plant 1.5 kilometers
A former senior executive of Samsung Electronics, referred to as Mr. A, has been arrested and will stand trial for his attempt to copy Samsung Electronics' semiconductor plant in its entirety in China.The Defense Industry and Industrial Technology Crime Investigation Division of the Suwon Distri
The author is an analyst for Shinhan Securities. He can be reached at jaewonjeong@shinhan.com -- Ed.All negatives reflected in 1Q23 earningsGC Biopharma reported disappointing earnings results in 1Q23, remaining in the red for the second quarter. Sales declined by 16% YoY to KRW349.5bn due to a high