SK Group will invest 67 trillion won in non-capital regions over the next five years, the group announced on Sept. 14.SK Group announced its investment and R&D plans to enhance the domestic infrastructure and technological competitiveness of the so-called BBC industries -- batteries, biotech and chi
Hanmi Pharmaceutical has obtained U.S. approval for its neutropenia treatment Rolontis, opening a new chapter in its R&D history. It is the first drug that Hanmi has succeeded in commercializing in the global market.Spectrum Pharmaceuticals, a U.S. partner to which Hanmi Pharmaceutical licensed out
Chong Kun Dang announced on Sept. 13 that it shared the results of the Phase 1 clinical trial on CKD-702, a new anticancer dual antibody biotech drug, at the European Society for Medical Oncology (ESMO) annual conference held in Paris, France from Sept. 9 to 13.Since May 2020, Chong Kun Dang has bee
U.S. President Joe Biden signed an executive order on Sept. 12 to launch the National Biotechnology and Biomanufacturing Initiative, which is for boosting production in the U.S. pharmaceutical and biotech sectors. The idea is to build new supply chains and create decent jobs in the sectors to rely l
Korea’s defense exports are expected to reach an all-time high in 2022, with the export figure already topping US$10 billion, much more than the previous record of US$7 billion set in 2021.Exports to Poland drove the steep growth. The Polish government signed arms purchase contracts with Korean defe
Daewoong Pharmaceutical announced on Sept. 6 that it has launched the 4th class of the Daewoong Global Drug Delivery System (DDS) Training Program for talented students from Indonesia. A scholarship awarding ceremony was held at the Daewoong Pharmaceutical R&D Center on Sept. 5 with the attendance o
Perrier-Jouët, Pernod Ricard Korea's champagne brand, announced on Sept. 7 that it has donated 5 million won, which was raised through a consumer engagement event in the Perrier-Jouët pop-up store, to the Biodiversity Foundation.Perrier-Jouët operated the "I am Nature" pop-up store at The Hyunda
Lotte Group has started the construction of Thu Thiem Eco Smart City in Ho Chi Minh City, a project to build a large-scale commercial and residential complex at the Thu Thiem district in the Vietnamese city.A groundbreaking ceremony was held on Sept. 2, Vietnam’s Independence Day, with the attendanc
Korea BeRM Co., a company specializing in postbiotics, has signed a strategic cooperation agreement with the official Korean partner of Germany’s leading health food brand, Rabenhorst & Rotbäckchen.Germany’s leading health food brand Rotbäckchen, symbolized by a girl with her blue headscarf and rosy
With connectivity emerging as a hot topic at IFA 2022, the largest consumer electronics show in Germany, LG Electronics announced on Sept. 1 that it will enhance the connectivity of its ThinQ application to provide a differentiated experience that goes beyond Samsung Electronics’ device connection p
Hyundai Engineering & Construction (Hyundai E&C) participates in an eco-friendly smart city development project in Vietnam.The company signed a memorandum of understanding with its Vietnamese partners on Aug. 29 to jointly promote the development of the Ha Nam Eco-Smart Urban Living Tomorrow City, a
Attention is focusing on Hyundai Motor Group’s reorganization plan. Hyundai Motor Co. and Kia developers are scheduled to be relocated to recently acquired autonomous driving startup 42dot, and Hyundai Mobis, a core subsidiary of the group, is planning to set up module and component production subsi
The author is an analyst of Shinhan Investment Corp. He can be reached at bh.lee@shinhan.com. -- Ed. Health functional foods supplierCosmax NBT specializes in the manufacture of health functional foods with production bases in Korea, US, and China. As of 2Q22, the company generates more than 60% of
As the United States is in a hurry to strengthen its supply chains, Korean companies are accelerating their investments in North America. SK Group has recently announced a large-scale investment plan in North America. In a video interview with U.S. President Joe Biden in July, SK Group chairman Chey
SK Inc. and SK Innovation (collectively, “SK”) invest in a next-generation small modular reactor (SMR) developer in the United States, stepping up their efforts to reduce global carbon emission. The investment is likely to provide a boost to SK Group’s strategy for the early achievement of net-zero
Qualcomm signed a US$4.2 billion contract with GlobalFoundries on Aug. 8 to increase its chip purchase. The size of their contracts increased to US$7.4 billion and the additional contract is for GlobalFoundries to produce in New York chips designed by Qualcomm for 5G transceiver, Wi-Fi, automotive a
Competition is heating up among global memory semiconductor producers to develop compute express link (CXL)-based memory solutions. CXL is an open, industry-supported standard for CPU-to-device and CPU-to-memory connections. The CXL interface is a key technology that enables more innovative ways to
Medytox’s Chinese partner has announced that it would terminate cooperation with the Korean company in the botulinum toxin business, dealing a blow to Medytox’s efforts to expand its business in China. Bloomage BioTechnology announced on Aug. 3 that it notified Medytox on July 29 of its intention to
CJ CheilJedang announced on Aug. 1 that it would invest US$210 million to expand its amino acid plant in Brazil.Completed in August 2004, the plant produces lysine, an amino acid for livestock feed (feed additive).The company is expanding the plant to produce high value-added amino acid items other
The European Union Chamber of Commerce in Korea announced on Aug. 1 that 23 percent of European enterprises canceled or postponed their investment in China in the second quarter of this year. This is because China’s economic growth is slowing down and the United States and the European Union are res