JW Group announced on Nov. 1 that it has signed a joint research contract with KURE.AI Therapeutics, a U.S. biotech venture company, to develop innovative anticancer therapies based on artificial intelligence (AI).Under this contract, JW Pharmaceutical and JW CreaGene will start R&D activities for t
JW Pharmaceutical announced on Oct. 31 that it will make a poster presentation on the results of a preclinical study on JW0061, a Wnt target hair loss treatment, at Wnt 2022, a conference to be held in Japan for five days from Nov. 15.Wnt is an acronym in the field of genetics that stands for 'W
Passengers are worried about flying with Korean Air, as the company's planes have been involved in a recent series of accidents. Industry experts suspect the company may have neglected maintenance and flight-related crew training during the COVID-19 pandemic.A Korean Air flight that departed fro
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
Aekyung Industrial and SK Chemicals have been slapped with a combined fine of 110 million won for falsely advertising that their humidifier disinfectants containing toxic substances were safe and harmless.SK Chemicals and Aekyung Industrial developed humidifier sterilizers containing CMIT/MIT ingred
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
Coupang Inc., the global parent company of Coupang, announced on Oct. 26 that it has launched its rocket delivery service for customers in Taiwan.Taiwanese customers now can purchase most of the millions of rocket delivery products from Korea. In particular, more than half of the rocket delivery pro
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
Pernod Ricard Korea, the Korean unit of the global wine and spirits company Pernod Ricard, has signed an MOU with Dongseo University in Busan to expand its professional training on sustainability. This training, known as the “Bar World of Tomorrow,” is available to students aged 19 or above who are
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
Kakao Group and its affiliates have been sanctioned by the Fair Trade Commission (FTC) 14 times over the past five years.The FTC investigated a total of 19 cases in connection with allegations about unfair trade practices between Kakao and its affiliates from January 2017 to July 2021, according to
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