SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company has obtained prequalification (PQ) certification from the World Health Organization (WHO) for its typhoid conjugate vaccine (TCV), ‘SKYTyphoid®
Cell Biotech announced on Feb. 22 that it has obtained the highest level of safety recognition from the U.S. Food and Drug Administration (FDA), the Generally Recognized As Safe (GRAS) certification, for 11 Korean probiotic strains. Through this validation, Cell Biotech has added certification for 1
HL Group’s HL Mando has officially launched a joint venture with China’s automotive parts company, Tianrun Industry Technology, related to the manufacturing of electric steering for commercial vehicles. The joint venture, Tianrun Mando, will have a total capital investment of 100 million renminbi, w
LG Energy Solution has embarked on establishing a solid supply chain for the expansion of its lithium iron phosphate (LFP) battery business.On Feb. 22, LG Energy Solution announced a long-term supply contract for LFP cathode materials used in electric vehicles (EVs) and Energy Storage Systems (ESS)
South Korea holds the potential to become a global battery supply base, necessitating a national strategy to realize this potential, according to claims made by industry experts. The Korea Chamber of Commerce and Industry’s Sustainability Growth Initiative (SGI) highlighted in its report on Feb. 22,
CJ Logistics announced on Feb. 22 that it has established an integrated logistics center for the globally renowned shoe brand Crocs in Icheon, Gyeonggi Province.Spanning an area of 20,000 square meters, the new facility can handle up to 50,000 boxes per day, doubling the capacity compared to the pre
The Export-Import Bank of Korea (Korea Eximbank) announced on Feb. 22 that it has signed a memorandum of understanding (MOU) with Germany’s KfW IPEX-Bank (KfW IPEX) for cooperation in the field of advanced industries and supply chains.KfW IPEX is a subsidiary fully owned by the German federal govern
The government is focusing its policy efforts on “normalizing the nuclear power industry ecosystem.” It has come up with support measures encompassing advancing research and development (R&D), facilitating job opportunities, extending financial aid, and offering tax incentives.On Feb. 22, the govern
Samsung Electronics has confirmed the sale of its entire stake in ASML, a Dutch semiconductor equipment company. According to Samsung Electronics’ audit report on the Feb. 21, the company disposed of its entire stake of 1,584,070 shares (a 0.4% stake) in ASML during the fourth quarter of last year.
Chinese direct purchase shopping app Temu is stirring controversy in South Korea by attracting new members with cash-like credit points and free gifts through fishing-like events. Consumers have criticized Temu’s ambiguous prize events as “consumer deception” and “multi-level personal information sc
The legal risks facing the former President of POSCO, Jang In-hwa, who has been nominated as the next chairman of the POSCO Group, are growing, sparking controversy.According to industry sources, on Feb. 19, the People’s Livelihood Countermeasure Committee filed a complaint against former President
The Korea Evaluation Institute of Industrial Technology (KEIT) opened the Korea-Germany Supply Chain Technology Cooperation Center at the Fraunhofer Institute for Ceramic Technologies and Systems IKTS in Dresden, Germany, on Feb. 20 to help stabilize global supply chains in key industries.The openin
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
LG Innotek has taken a significant step towards dominating the autonomous driving camera market by developing a “high-performance heating camera module” suitable for harsh winter conditions.On Feb. 20, LG Innotek announced the development of a high-performance heating camera module for autonomous dr
The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-fo
Ahead of the Defense Acquisition Program Administration (DAPA)’s deliberations on slapping bidding restrictions on HD Hyundai Heavy Industries, Representative Seo Il-joon called for strict deliberations, saying, “The deliberations should be used as an opportunity to lay a foundation for the Korean d
The Fair Trade Commission (FTC) is targeting franchise businesses owned by private equity funds. In particular, tensions within the industry have escalated recently after Mom’s Touch was fined 300 million won (US$225,989) for unfair practices towards its franchisees.Yook Sung-kwon, the Secretary Gen
Governor Kim Jin-tae addressed the plenary session of the 325th Extraordinary Session of the Gangwon State Council on the 14th, delivering a New Year's speech. He expressed, "The recently discussed 4-day workweek will be a significant opportunity for the state," and asserted his determination to "th