Samsung Bioepis said on April 25 (local time) that it has received final approval from the U.S. Food and Drug Administration (FDA) to sell its Enbrel biosimilar Eticovo (ingredient name: etanercept).Eticovo is the company’s third biosimilar product approved in the United States, following Renflexis
The South Korean economy is estimated to have contracted 0.34 percent in the first quarter of the year from the previous quarter, the Bank of Korea announced on April 25.The central bank attributed the unexpected negative growth of Korea’s gross domestic product to a drop in capital investment and f
Samsung Electronics is forecast to supply 5G modems for Apple’s 2020 iPhones that support 5G networks.Apple recently settled a legal battle with Qualcomm over patents and agreed to buy chips from Qualcomm again. Yet it is forecast to purchase 5G modems not only from Qualcomm but from Samsung Electro
The Korea Economic Research Institute announced on April 24 that 13 South Korean companies put their names on the list of the world’s top 500 R&D investors last year, when South Korea came in ninth in terms of the number of companies and eighth in terms of total R&D expenditure.The 500 companies inc
Samsung Electronics will invest a total of 133 trillion won (US$115 billion) by 2030 in research and development and production technologies in the system semiconductor sector and hire 15,000 professionals, the company announced on April 24.Samsung declared that it aims to be No. 1 not only in memor
The so-called “Huawei effect” is clearly noticeable in the global electronics parts industry. Sales of Taiwanese information technology (IT) companies that supply parts to Huawei have sharply increased.Taiwan's camera lens maker Largan Precision posted US$127.5 million in sales in March, up 55 p
While Samsung Electronics indefinitely postponed the launch of the Galaxy Fold due to defects, China’s Royole, Xiaomi and Huawei have launched their foldable phones, heating up competition among smartphone manufacturers.On the day Samsung Electronics announced the temporary postponement of the launc
With the expansion of 5G coverage and quality improvement work in progress, Korea’s three mobile telecom companies are suffering from a delay in 5G equipment delivery from Nokia. Originally, Nokia was scheduled to deliver 5G equipment to the three mobile carriers by January but the delivery was dela
Samsung Electronics has decided to open its foundry fab to small and mid-sized Korean companies including Silicon Works, a fabless company that belongs to LG Group. The decision was made in order to rev up Korea’s weak semiconductors ecosystem and promote win-win growth between small and big enterpr
The Korean shipbuilding industry is showing signs of recovery.Samsung Heavy Industries announced on April 22 that it has signed a contract with an Asian shipping company to build a floating production storage and offloading (FPSO) unit for 1.1 trillion won on the condition that the client receives a
With securities firms expected to show a better performance than expected in the first quarter of this year, Hana Financial Group has officially announced the tentative performance of its subsidiary, Hana Financial Investment.Hana Financial Investment posted 85.45 billion won (US$74.86 million) in c
Samsung Electronics Co. will soon come up with a system memory investment plan worth over 30 trillion won (US$26.28 billion).The government has decided to focus on promoting the non-memory, biotech and future car sectors and it is planning to announce its plan at Samsung’s Hwaseong campus at the end
Samsung Electronics has postponed its press briefings on the Galaxy Fold smartphone, which were scheduled for April 23 in Hong Kong and April 24 in Shanghai, due to its defects recently found in the United States.Wall Street Journal columnist Joanna Stern recently posted a YouTube video mocking the
Korean securities firms’ overseas subsidiaries saw their profits in 2018 increase 2.5 times from the previous year, the Financial Supervisory Service (FSS) said on April 21.By region, China was the only country where Korean securities firms suffered a loss. The reasons included the intensified trade
Even though the U.S.-China trade negotiations are entering the endgame, the United States does not show any sign of easing pressure on China in the semiconductor sector. This time, Qualcomm of the United States has decided to shut down its joint venture with a Chinese company at the end of this mont
South Korea’s tax burden, the ratio of national taxes and local taxes relative to its gross domestic product (GDP), soared to an all-time high in 2018 due to the highest increase in 18 years. The nation’s total tax revenues surged with a rise in corporate taxes and capital gains taxes.South Korea co
Korean biosimilars are penetrating deep into the European market. Sales of multinational pharmaceutical companies' original drugs fell sharply because of these biosimilars.According to the pharmaceutical industry on April 18, multinational pharmaceutical company Roche reported that European sale
Some units of Samsung Electronics’ Galaxy Fold, which were distributed for reviews before the U.S. launch on April 26, showed abnormal functions such as its display being turned off or flickering after one or two days’ use."Some units of Samsung Electronics's US$1,980 Galaxy Fold showed display
Samsung Electronics Co. and Harman International Industries Inc. are speeding up the creation of synergy.Samsung Electronics announced on April 18 that Harman has recently signed an agreement with Germany’s BMW and China’s Great Wall Motor (GWM) to supply next-generation infotainment modules. Harman
SK Hynix Inc., the world’s second-largest memory chipmaker, has completed the expansion of its dynamic random-access memory (DRAM) manufacturing plant in Wuxi, China.SK Hynix held a completion ceremony for C2F, an expansion of its existing C2 DRAM fabrication line in Wuxi, Jiangsu Province of China,