Celltrion has launched an 80-mg dosage form of its biosimilar Yuflyma (adalimumab) for the treatment of autoimmune diseases in the United States.Celltrion said on Jan. 17 that 80 mg is the same high-concentration (100 mg/ml) formulation as the 40 mg version that became available in the United States
A bill to amend the Petroleum and Petroleum Alternative Fuel Business Act passed the National Assembly’s plenary session on Sept. 9, paving the way for refiners to produce sustainable aviation fuel (SAF).SAF is an aviation fuel derived from renewable biomass or carbon dioxide. It has the same compos
A plenary session of the National Assembly passed an amendment to the Capital Markets and Financial Investment Business Act, which will require large-scale stock transactions by insiders of listed companies to be disclosed in advance beginning from the second half of 2024.The Financial Services Comm
A luncheon meeting of labor, management and government representatives was held at a Korean restaurant in Gwanghwamun, Seoul, on Dec. 14, according to the Ministry of Labor and Employment and Economic, Social and Labor Affairs Committee, a presidential social dialogue body. This marked the first tim
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that SK bioscience and Sanofi have initiated the submission process of an Investigational New Drug(IND) amendment to the U.S. Food and Drug Administration(FDA)
Hanwha Aerospace has secured a second phase contract for exporting 152 K9 self-propelled howitzers, worth approximately 3.4 trillion won, following their initial deal in August last year to export 212 units worth around 3.2 trillion won.On Dec. 4, Hanwha Aerospace announced the signing of this secon
The small and medium-sized enterprise (SME) sector is urging the swift passage of the “Business Succession Support Act” currently under consideration in the National Assembly, advocating for businesses to opt for continuity rather than closure. This comes as numerous companies consider closure inste
The Korean business community has been strongly opposing the Yellow Envelope Bill (an amendment to Article 2-3 of the Trade Union Act), saying it will disrupt Korea’s labor relations and industrial ecosystems. But the majority Democratic Party passed the bill in a plenary session of the National Ass
The Korean defense industry is growing rapidly as the world recognizes the excellence of Korean-made weapons. At the center of the Korean Defense Industry gripping the global arms market is the Korea Defense Industry Association (KDIA).Founded in 1976, the KDIA is a specialized defense industry orga
Starting next year, foreign residents in South Korea seeking eligibility for health insurance as dependent beneficiaries must have a minimum of 6 months of residency.According to the Ministry of Health and Welfare and the National Health Insurance Service on Oct. 26, an amendment to the Health Insur
On Oct. 24, Yoon Hee-sung, the president of the Export-Import Bank of Korea (KEXIM), stated that he anticipates the scale of the second round of defense exports to Poland to be “slightly larger than 30 trillion won (US$22.26 billion).”During a parliamentary audit of the National Assembly’s Strategy
As of the end of the first half of this year, there were approximately 86 domestic corporate venture capital firms (CVC) established and held by companies to invest in alignment with their business strategies. CVC’s share of the total venture investment amount stands at 22%, and the government has a
Google and Apple have been hit with a corrective order and a potential maximum fine of 680 billion won by the Korea Communications Commission (KCC) for forcing app developers into in-app payment systems, an act described as 'overbearing.'The KCC announced its intentions based on the results of a fac
The government has officially confirmed the decision to double penalties for stock price manipulation gains as fines starting from January next year. However, it has decided to exclude cases where the prosecution has raised investigation concerns. The Korea Exchange (KRX) has also decided to expand
Financial authorities have declared war on unfair trading forces, including stock manipulation. They will swiftly freeze accounts suspected of unfair trading, apply a zero-tolerance policy, and increase the reward for reporting to 3 billion won (US$2.24 million), up from 2 billion won (US$1.49 milli
On Sept. 19, a commemorative event was held at the Samsung Fire & Marine Insurance Guide Dog School in Yongin, Gyeonggi Province, celebrating the guide dog program that the late Lee Kun-hee, former Chairman of Samsung, had dedicated himself to for 30 years following his “New Management Declaration”
SK broadband and Netflix, the world’s leading online video streaming service (OTT), have settled their network usage fee litigation and agreed to a service partnership. Consequently, customers can now access Netflix content on SK telecom’s mobile and Internet Protocol TV (IPTV) platforms.While the l
The government, in a joint effort with the private sector, is establishing a “Startup Korea Fund” with a total size of 2 trillion won (US$1.51 billion) by 2027 to support the global expansion of deep tech and startups.The Ministry of SMEs and Startups (MSS) announced the “Comprehensive Startup Korea
Mirae Asset Securities announced on Aug. 30 that the inflow of overseas stocks from foreign depositories has exceeded 2 trillion won (US$1.51 billion). This growth is attributed to increased demand for stock compensation system consulting services targeting employees of overseas companies.According
The Korea International Trade Association (KITA) has expressed deep concerns, indicating that the electric vehicle (EV) subsidy reform proposed by the French government might violate the Korea-European Union (EU) Free Trade Agreement (FTA). France is pushing forward with the introduction of new envi