A Korean research team has developed a technology to strengthen the anticancer function of natural killer (NK) cells, which are known to attack cancer cells.The Korea Research Institute of Chemical Technology (KCCI) announced on May 1 that Dr. Lee Chang-hoon's team has developed a technology tha
As Korea Development Bank (KDB) chairman Lee Dong-geol announced on April 16 that creditors would quickly come up with a financial support plan for Asiana Airlines Inc., market watchers are speculating about the price of the country’s second largest carrier.Financial authorities and KDB believe that
The National Assembly is set to pass a bill on advanced biopharmaceuticals, which is intended to strengthen the global competitiveness of the Korean biotech industry.The bill examination subcommittee of the Legislation and Judicial Committee of the National Assembly decided on April 3 to put the bil
South Korea’s financial regulations are hampering insurers’ efforts to secure a next growth engine.Global companies based on information and communications technology (ICT), such as Google, Alibaba and Tencent, are making an aggressive investment in insurtech, which refers to the use of technology i
Key bills related to biotech industry globalization remain pending in the National Assembly. Experts point out there should be no more procrastination.The bills include those on advanced biopharmaceuticals and in vitro diagnostic devices. The National Assembly failed to pass the bills last year. Thi
Korean patients with cancer and dementia will soon be allowed to have genetic tests without going to hospitals by using direct-to-consumer (DTC) devices, which test using their saliva.DTC usually refers to the marketing of pharmaceutical products but also applies to the direct marketing of medical d
lululab, a member company of the K-ICT Born2Global Centre, wins the CES Innovation Awards in the biotech sector ahead of CES 2019, the world's largest consumer electronics show, to be held in Las Vegas next January.lululab is a spinoff company of C-Lab, Samsung Electronics' in-house venture
The South Korean government has presented 16 projects in four sectors to achieve results in the first half of next year.The four sectors of the “2019 Economy Policy Direction” released by the government on December 17 includes “big project” for boosting domestic demand and creating jobs, “big deal”
The total output of the South Korean biotech industry topped 10 trillion won (US$9 billion) in 2017 for the first time ever, led by the growth of the biomedicine sector. The industry’s annual exports showed a year-on-year growth of 11.2%.According to the Ministry of Trade, Industry and Energy, the c
A conflict between the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) is developing into an emotional fight.The labor union of the FSS issued a statement on Dec. 3 to request President Moon Jae-in to dismantle the FSC which, in its view, “unfairly helps Korean chaebo
Four South Korean startups from the Creative Economy & Innovation Centers – VPIX Medical, BA Energy, SB Solution and Doctor's Fab – have been selected for “SLUSH 100,” a startup contest hosted by Europe’s largest startup conference SLUSH.The companies, all incubated by the Creative Economy & Inn
Celltrion has obtained marketing approval for its anticancer drug Truxima from the U.S. Food and Drug Administration (FDA), the company annouced on Nov. 29.Truxima is a biosimilar to Rituxan developed by Roche, a global pharmaceutical company. It is mainly used for treatment of non-Hodgkin's lym
Samsung Electronics and LG Electronics have launched new medical imaging devices in the North American market.The two companies announced on Nov. 26 that they exhibited a variety of medical imaging devices based on artificial intelligence (AI) and ultra high definition (UHD) technology at the Radiol
Boryung Pharmaceutical is stepping up efforts to develop both biologics and chemical drugs.According to the pharmaceutical and biotechnology industry on Nov. 20, Boryung Pharma is seeking to enter the biopharmaceuticals market by developing an immune cell therapy treatment through its subsidiary Vig
WONTECH Co., a Korean manufacturer of laser and ultra-sound medical devices, announced on Nov. 20 that its device for hair loss treatment has won approval from the Food and Drug Administration of the United States.The helmet-type device, dubbed Hair Boom, is based on low-level laser therapy (LLLT).
SK Plasma, a company specializing in blood products, said on Oct. 30 that its new factory in Andong, North Gyeongsang Province, has started full-scale commercial production.SK Plasma invested about 150 billion won to build a new plant at the Bioindustry Complex in Andong to expand the supply of bloo
Concerns are rising that Korea may lose its lead in xenotransplantation technology due to the government's neglect and indifference.The Xenotransplantation Research Center said on Oct. 17 that it has drawn up a clinical trial plan for transplantation of pig organs into humans but cannot push ahe
Korean researchers have developed a technology that can detect cholesterol in saliva instead of blood. This new technology is expected to be used to diagnose lipid metabolism disturbances such as hyperlipidemia.The Korea Advanced Institute of Science and Technology (KIST) announced on Oct. 17 that a
Celltrion Healthcare announced on Oct. 15 that Truxima, a biosimilar it has developed for blood cancer treatment, accounted for more than 30 percent of the European market as of the end the second quarter of this year.Truxima is a biosimilar to Rituxan, a drug developed by Biogen and marketed by Roc
The LG Group has chosen smart contact lenses as its first convergent R&D project since Koo Kwang-mo took office as its chairman. Smart contact lenses are much more convenient than eyeglass-like products like the "Google Glass" and offer users wider and clearer views.Most notably, smart contact lense