Samsung Electronics unveiled plans for continuous process technology migration to 3- and 2-nanometer (nm) at its 5th annual Samsung Foundry Forum (SFF) on Oct. 7.The company said it is scheduled to start producing its customers' first 3nm-based chip designs in the first half of 2022, while its s
Hanwha Solutions announced in August that it would acquire renewable energy developer RES France for approximately one trillion won. “The French company was expected to be acquired by a European company, but Hanwha Solutions surprised the entire industry,” said an industry source, adding, “The South
The author is an analyst of Shinhan Investment Corp. He can be reached at sh.kim@shinhan.com. -- Ed. SK Materials has announced plans to split off into a holding company (tentatively named SK Materials Holdings) and a wholly-owned subsidiary focused on specialty gases (SK Materials). Upon the split-
Samsung Biologics has asked the leaders of the ruling Democratic Party of Korea (DPK) to raise the tax credit on investment in biotech facilities such as COVID-19 vaccine plants to 6 percent.The company delivered its request for increased tax benefits to DPK leader Song Young-gil, who recently visit
A smart plant of LS Electric, an LS Group subsidiary specializing in power, automation and smart energy, has been selected as a “Lighthouse” factory for 2021 by the World Economic Forum (WEF). LS Electric has become the second Korean company, following POSCO in 2019, to join the WEF’s Global Lightho
The Ministry of SMEs and Startups announced on Sept. 28 that the startup investment in South Korea for the first eight months of this year totaled 4,615.8 billion won, up 85.8 percent from a year ago. For reference, the previous yearly high, 4,304.5 billion won, was recorded last year.From January t
The Korea-America Association, the Korea Industry Alliance Forum, the Korea Chamber of Commerce and Industry, the American Chamber of Commerce in Korea, and the Korea Federation of SMEs held an industrial cooperation conference on Sept. 27.There, participants stressed the importance of mutual cooper
The K-mRNA Consortium announced on Sept. 9 that Dong-A ST and Ecell have become members of the consortium launched in June this year. The members of the consortium for COVID-19 vaccine development also include Hanmi Pharmaceutical, GC Pharma, ST Pharm and the Korea Innovative Medicines Consortium.Do
The Federation of Korean Industries and the Chinese International Economic Cooperation Association held the 45th Korea-Taiwan Economic Cooperation Committee Meeting on Sept. 7 to discuss cooperation in the fields of semiconductor, smart city, biotech, healthcare, etc.At the meeting, the federation a
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Sept. 5 that 193 out of the 299 South Korean companies in the industry are working on 1,477 new drug pipelines. For reference, 100 companies were working on 573 new drugs according to the association’s 2018 survey.The 1,4
South Korean pharmaceutical and biotech companies are increasingly utilizing AI and big data in the process of new drug development.JW Pharmaceutical is working on a new atopic dermatitis drug using AI and its Phase 2 clinical trial is scheduled for the second half of this year. C&C Research Laborat
The Ministry of Trade, Industry and Energy announced on Sept. 1 that South Korea’s exports totaled US$53.23 billion last month, the highest August figure ever.Last month, South Korea’s exports increased for the 10th consecutive month and increased by more than 10 percent for the sixth consecutive mo
AstraZeneca Korea, SK Bioscience and the Ministry of Health and Welfare had a comparator vaccine handover ceremony in Seoul on Aug. 31.The ceremony was for AstraZeneca to donate its COVID-19 vaccine for clinical research purposes so that Phase 3 clinical trials can be facilitated with regard to COVI
The South Korean government decided to increase its budget in the future car, semiconductor and biotech sectors by 43 percent to 6.3 trillion won next year.The government has provided a financial support of approximately 10 trillion won in the three sectors so far. The support is expected to further
Corporate interest in microbiomes is growing as microorganisms in the human body such as germs, viruses, and molds can be used to treat cancer and other diseases.Accordingly, companies that used to make health enhancement foods and cosmetics using microbiomes are starting to develop treatments for d
Samsung Electronics released a new investment plan on Aug. 24. At least 50 trillion won is expected to be invested in the system-on-chip industry for three years to come, and it is likely to include US$17 billion for another foundry in the United States.In addition, the company is expected to build
The New Zealand Chamber of Commerce in Korea (The Kiwi Chamber) and New Zealand Trade and Enterprise (NZTE) launched the two-day “New Zealand-Korea Tech Roadshow 2021” webinar on Aug. 25. The event is being held jointly with the New Zealand Embassy in Korea, the Seoul Metropolitan Government and Inv
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Aug. 19 that four pharmaceutical and biotech companies and the Korea Health Industry Development Institute newly joined the Cambridge Innovation Center (CIC) in Boston.The four companies are PharmCADD, WELT, Daewoong Phar
GC Pharma has succeeded in entering the Chinese hemophilia drug market.The company said on Aug. 14 that it has obtained approval from China's National Medical Products Administration (NMPA) for its hemophilia treatment GreenGene F. This is the first time that a genetically recombined hemophilia
Kakao founder Kim Beom-su has recently become the richest South Korean beyond Samsung Electronics vice chairman Lee Jae-yong. Their current assets are US$12.9 billion and US$11.8 billion, respectively.They are followed by Celltrion honorary chairman Seo Jung-jin (US$10.4 billion) and Nexon founder K