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 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
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
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
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY; TP raised 4.8% from KRW620,000 to KRW650,000 We reiterate BUY on CJCJ and raise our TP by 4.8% from KRW620,000 to KRW650,000. We have revised up 2021-23E NP (attributable to controlling interest
Samsung Electronics beat Intel and recorded the biggest sales in the global semiconductor industry in about three years. Industry watchers say that the former, which has approximately US$100 billion in cash on hand, is likely to increase its M&A investment to remain ahead of the latter.In the second
Hanmi Science, the holding company of Hanmi Pharmaceutical Group, aims to become a regional vaccine hub company based on its massive mRNA vaccine production capacity.The World Health Organization (WHO) is moving to establish a vaccine hub in each region of the world. Hanmi Science sees the project a
Korea is seeking to produce the world's third mRNA COVID-19 vaccine from CureVac, a German biopharmaceutical company that develops therapies based on messenger RNA.Korean President Moon Jae-in and CureVac CEO Franz-Werner Haas agreed to form a new vaccine partnership during a meeting through a v
The nanoparticle technology applied to SK Bioscience's COVID-19 vaccine GBP510, which is under development, is drawing attention. Nanoparticles applied to GBP510 were jointly developed by researchers at SK Bioscience and the University of Washington. The university’s nanoparticle technology is k
An increasing number of South Korean companies are entering the field of mRNA vaccine development and manufacturing.For instance, Samsung Biologics, which recently signed a contract manufacturing agreement with Moderna, is planning to expand its facilities for the purpose of mRNA vaccine ingredient
Dong-A ST, a pharmaceutical affiliate of Dong-A Socio Group, has drastically revamped its R&D (R&D) organization. It created a biotech lab and introduced a team system to its new drug lab to speed up the pace of research."The reform is intended to expand the company’s research domain from synthetic
Moderna, a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Samsung Biologics, a leading global CDMO providing a fully integrated end-to-end contract development and manufacturing service, announced on May 23 a manufacturing services and supply agreement in which
Dong-A ST announced on March 12 that it has signed a contract with E& Investment, a Korean venture capital which owns a 33 percent stake in U.S. pharmaceutical company NeuroBo Pharmaceuticals, to be delegated its voting right to the U.S. company.Under the deal, Dong-A ST will secure managerial contr
GS Group has established a consultative body on eco-friendly management to practice environmental, social, and governance (ESG) management in earnest.The new organization consists of the chief green officers (CGOs) of each affiliate. An inaugural meeting was held with the attendance of GS chairman H
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. CJCJ has been focusing on environment friendly management, especially securing a new growth engine via PHA-based biodegradable plastics. A positive external environment—including stricter rules on pla
Incheon City, the third-largest in South Korea, is emerging as a global city. The following is Business Korea’s recent interview with Incheon Mayor Park Nam-chun, who became the seventh mayor in July 2018 in the city where he was born. – Ed. COVID-19 is still ongoing. How is the city dealing with th
SK Holdings, the holding company of SK Group, is pushing for joint investment in eco-friendly automobile infrastructure with Geely Auto Group, China's largest automaker.The exact size of the planned joint investment is under wraps, but it is said to be around hundreds of billions of won. Global
Samsung Group’s new projects have come to a halt with Samsung Electronics vice chairman Lee Jae-yong sentenced to imprisonment. Investment and M&A decisions are unlikely to be made in the absence of the head.Business activity reports are currently impossible, too. This is because he is in solitary c
The aggregate value of KOSPI increased approximately 600 trillion won year on year as of Jan. 19 this year. The ratio of the value to South Korea’s nominal GDP rose from 79 percent to 111 percent in that period. The 32 percentage point increase is more than 10 times South Korea’s nominal GDP growth
The Korea Biotechnology Industry Organization said on Jan. 12 that Korea’s exports of biotech and health products surged by over 50 percent on year in 2020 despite COVID-19.Korea's exports in the bio-health sector amounted to 15.25 trillion won (US$14.1 billion) in 2020, according to the 2020 Ex