Celltrion announced on Jan. 24 that it has signed a memorandum of understanding with WuXi XDC, a China-based company specialized in Antibody-Drug Conjugates (ADC), for the development of new ADC therapeutics, and has commenced product development for Contract Development and Manufacturing Organizati
Daewoo Engineering and Construction announced on Jan. 23 that it has completed the construction of the Mumbai Trans Harbour Sea Link, the longest sea bridge in India.In 2018, Daewoo E&C started its participation in the the Mumbai Trans Harbour Sea Link construction project through a joint venture wi
Domestic construction companies have shown a consecutive two-year increase in the amount of construction projects secured overseas, riding an upward trend.According to the International Contractors Association of Korea (ICAK) on Jan. 22, the total value of construction projects secured by domestic c
Lotte Biologics recently announced the signing of a strategic business agreement with NJ Bio, a U.S.-based Contract Research Organization (CRO) specializing in non-clinical and clinical contract research, to provide one-stop Antibody-Drug Conjugate (ADC) services. Established in 2018, NJ Bio, based
Eric Sangyub Sung, chairman of the Korea Venture Business Association and CEO of Intellian, emphasized the necessity of globalization for the growth of venture businesses. In a New Year’s event for the innovative venture industry held on Jan. 19 at EL tower in the Seocho district of Seoul, Chairman
The government is restructuring industrial and energy technology development projects to focus on high-risk, next-generation, and large-scale tasks. There will be a significant reduction in the financial burden on companies. The plan is to transition to a demand-driven process where businesses and r
LG Chem announced on Jan. 18 that it has signed a master agreement in Rome, Italy, with ENI to establish a joint venture for next-generation bio-oil. The signing ceremony was attended by key figures including Claudio Descalzi, CEO of ENI; Stefano Ballista, CEO of ENI Live; Vice Chairman Shin Hak-che
Minister of SMEs and Startups Oh Young-Ju met with the startup winners of the CES 2034 Innovation Awards on Jan. 18 for a discussion.The meeting, held at the Seoul Center for Creative Economy & Innovation, aimed to encourage the representatives of the winning ventures and startups and to listen to t
SK telecom announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Vetology Innovations of the United States, targeting the U.S. market with its product, named X Caliber, during the world’s largest veterinary event, VMX2024, currently underway in the U.S.X Caliber is a diagn
SK D&D and SK gas announced on Jan. 16 that they have established a joint venture, SA Grid Solutions, with Apex Clean Energy, a U.S.-based renewable energy company, and signed an investment agreement for an Energy Storage System (ESS) business.Previously, in December 2023, SK D&D and SK gas founded
Orion is taking its first step into the next-generation anti-cancer drug market by acquiring LegoChem Bio for about 55 billion won.Orion Holdings acquired a 25 percent stake in LegoChem Bio and became the largest shareholder on Jan. 15, according to industry sources on Jan. 16. Orion acquired a tota
Hyundai Motor Group has sold its Chongqing plant in China for about 300 billion won. This has reduced the number of production bases in China from five to three since Hyundai entered the country in 2002. The decision was made to reorganize the structure of its Chinese business, thereby boosting its
Vice President Kim Dong-sun of Hanwha Robotics has been visiting global sites in the new year to explore strategies for overcoming the economic crisis and for future industries. Particularly, he has exchanged diverse opinions with global CEOs about synergies between traditional industries and advanc
Due to a slowdown in global demand for electric vehicles, leading to an “oversupply,” the prices of battery materials have significantly fallen. Companies in this sector are noticeably tense. According to Taiwan’s market research firm TrendForce on Jan. 14, in December last year, the prices of lithi
LG Energy Solution is actively expanding its business in North America. Following its success in electric vehicle batteries, the company is now accelerating its Energy Storage Systems (ESS) business. The growth of ESS is closely tied to the increasing generation of renewable energy.According to the
On Jan. 10, the Ministry of SMEs and Startups (MSS) announced the results of its Venture Enterprise Detailed Survey, analyzing the management performance, employment, and research and development (R&D) of venture companies as of the end of 2022.According to the MSS, the average revenue of venture co
Samsung C&T Corporation, along with its subsidiaries Samsung Biologics and Samsung Bioepis, announced on Jan. 9 the signing of a memorandum of understanding (MOU) for strategic cooperation with the U.S.-based Flagship Pioneering through their jointly established Life Science Fund No. 2 (SVIC 64th Ne
Considering the key role of electronics in future cars, alliances between electronics and automotive companies, dubbed E-Vehicle Alliances, are being formed worldwide.Sony Honda Mobility, the electric vehicle joint venture of Sony and Honda, held a press conference in Las Vegas on Jan. 8 (local time
The joint battery plant of Chinese battery maker CATL and U.S. automaker Ford in the United States is not excluded from those eligible for subsidies under the local Inflation Reduction Act (IRA) of the U.S. government, a leading Chinese newspaper reported.“Ford has not found anything in the IRA or i
Previously dedicated to producing pouch-type batteries, SK on has now embarked on the development of the “4680 battery,” a product Tesla has successfully made a game-changer in the electric vehicle (EV) market. This move to broaden its portfolio by adding cylindrical batteries follows its success wi