On Aug. 22, JW Pharmaceutical announced that it has received approval for the Phase 3 clinical trial plan (IND) of the gout drug “Epanewrad” (code name URC102) from the Taiwan Food and Drug Administration (TFDA).Epanewrad, which JW Pharmaceutical is developing as an oral medication, is a uric acid e
The Ministry of SMEs and Startups (MSS) has set detailed requirements for multiple voting rights to a venture startup that allows its founder to retain management control even if the venture startup receives investment from the outside. The ministry announced on Aug. 21 that it has issued a legislat
The Japanese yen-U.S. dollar exchange rate rose to 146 yen per U.S. dollar on the Tokyo foreign exchange market on Aug. 17. It reached the highest level in nine months since November 2022 and the highest so far this year.While the Japanese yen has stayed at one of the lowest points in history, the K
Seoul Sisters participated in KCON LA 2023 and, at the same time, they are actively targeting the US market. Seoul Sisters, who are targeting the global market starting with Amazon, plan to accelerate their entry into the US mainland by expanding offline channels after KCON LA 2023.Seoul Sisters has
Aiitone, a company that specializes in the defense industry, is enhancing its cooperation with Saudi state-owned military companies.Aiitone, a KOSDAQ-listed company, announced on Aug. 17 that a visiting delegation led by CEO Jin Yeop Lee made a surprise visit to Saudi Arabian Military Industries (re
Korea’s coffee imports have shrunken this year, according to the Korea Customs Service. The decline is attributed to a drought that impeded global coffee production.According to the Korea Customs Service’s trade statistics on Jan. 21, the volume of Korea’s coffee imports from January to July this ye
Korean materials companies are considering launching research about LFP cathode materials, but this is the first time they have officially announced that.EcoPro BM and POSCO Future M started developing LFP cathode materials in earnest from the second quarter of this year, according to their semi-ann
Following a ban on overseas transfers of rare earth permanent magnet manufacturing technology at the end of 2022, China has decided to control the export of gallium and germanium emerging as next-generation semiconductor materials, starting from August. The Russian-Ukrainian war, which has been goin
The Korean government has secured the rights to negotiate a US$1 billion water supply project for an industrial park in Bangladesh.The Korean Ministry of Land, Infrastructure, and Transport and Korea Overseas Infrastructure & Urban Development Corporation (KIND) said on Aug. 21 that Bangladesh grant
Domestic TV manufacturers such as Samsung Electronics and LG Electronics have been holding a dominant position in the global market but are now showing signs of unease. This is because Chinese companies like TCL and Hisense have been aggressively competing with lower-priced offerings, rapidly erodin
In the ranking of the “Global 1000 Banks” published by the U.K. financial journal “The Banker,” which aggregates the performance of the previous year, six domestic banks, or financial groups, including KB Financial, Shinhan Financial, Korea Development Bank (KDB), Hana Financial, Woori Financial, an
Harim, Dongwon, and the LX Group have actively joined the acquisition battle for HMM. Hapag-Lloyd, the largest shipping and container transportation company in Germany, is also participating in the preliminary bidding.According to the investment banking (IB) industry on Aug. 21, Korea Development Ba
CJ Foodville announced on Aug. 21 that it has opened its 100th Tous Les Jours store in the U.S. This one is named the “Bronxville Branch,” located about 15 miles north of midtown Manhattan, New York.Notably, the Bronxville Branch holds special significance as it’s the fifth store opened by a multi-s
LG Chem is accelerating the development of its gout treatment, Tigulixostat. After the United States, the company has submitted a plan for phase 3 clinical trials in Europe.According to the electronic disclosure system of the Financial Supervisory Service on Aug. 21, LG Chem has applied for the glob
On Aug. 21, SK bioscience announced that it had signed a contract with Thailand’s state-run pharmaceutical company GPO to supply SkyCellflu, a cell-cultured influenza vaccine concentrate, valued at 679.9 billion won.Following the MOU with GPO last month for the establishment of local vaccine product
On Aug. 21, Hanwha Life’s Vietnam subsidiary announced that it had achieved cumulative profitability for the first time since its establishment in 2008. It is the first time for a domestic insurance company, fully funded and set up as a sole proprietor, to achieve this overseas.Eight years after its
On Aug. 20, Shinhan Bank announced that it had celebrated its 30th anniversary of entry into Vietnam with an event at the Intercontinental Hotel in Ho Chi Minh City on Aug. 18.Shinhan Bank made its foray into Vietnam in 1993, a year after South Korea and Vietnam established diplomatic relations, bec
Daewoong Pharmaceutical announced on Aug. 20 that due to the global expansion of its self-developed botulinum toxin treatment “Nabota” and newly developed drugs such as Fexuclue and Envlo, its overseas exports have grown by more than 200% in the past two years.Exports, which stood at 448 billion won
Chinese companies that have been exporting solar cells and modules to the United States through Southeast Asia are facing a “tariff bomb” from the U.S. Department of Commerce. Hanwha Q CELLS, the solar division of Hanwha Solutions, based in Malaysia, stands to benefit from these tariffs.On Aug. 18,
SK hynix has successfully developed the world’s first 5th generation High Bandwidth Memory (HBM), setting a new benchmark for high-performance DRAM.On Aug. 21, SK hynix announced, “We have successfully developed ultra-high-performance DRAM for Artificial Intelligence (AI), dubbed the 5th generation