Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Thousands rally in Seoul to call for Yoon resignation
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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[Exclusive] SK Pharmteco’s French CDMO to complete construction of new plant in Q1 2023
FRANKFURT, Germany -- Yposkesi, SK Pharmteco’s French contract development and manufacturing organization specialized in cell and gene therapy, is expecting to complete the construction of its new plant by the end of the first quarter next year, the CDMO’s CEO said Tuesday. “After (the completion of the plant), we will qualify this manufacturing unit and we expect to get the authorization from the French authorities to operate the plant under the (Good Manufacturing Practice) b
Nov. 2, 2022
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[Herald Interview] ‘Biopharmas in midst of manufacturing revolution’
As biopharmaceutical companies across the globe are undergoing revolutionary changes in bioprocessing, Merck Life Science appears committed to helping Korean companies stay ahead of the game. Meeta Gulyani, head of strategy, business development and sustainability at Merck Life Science, told The Korea Herald last week that the factory of the future features connected, automated and digitized manufacturing. “All of this is to say that we are going to try to increase the speed of manufacturi
Nov. 2, 2022
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Celltrion seeks partnership expansion at CPhI Worldwide
FRANKFURT -- Celltrion, a South Korean pharmaceutical giant, is seeking to expand partnerships at this year’s Convention on Pharmaceutical Ingredients Worldwide, the company said Tuesday. Taking place in major European cities each year, CPhI is one of the largest global pharma industry events in the world that gathers household names and experts. The German city of Frankfurt is holding this year’s event from Tuesday to Thursday. According to Celltrion, the drug maker has set up an in
Nov. 1, 2022
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Samsung Biologics emphasizes speed
FRANKFURT, Germany -- Samsung Biologics, a leading South Korean contract development and manufacturing organization, has highlighted its speed in expanding production capacity and bringing clients’ drug products to the market as the company’s competitive edge in the global CDMO industry. “The most prominent differentiator is our speed to the market. We allow our customers to bring their products faster to the market,” said Kevin Sharp, Samsung Biologics’ vice presid
Nov. 1, 2022
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Samsung Electronics marks 53rd anniversary in low-key
Samsung Electronics on Tuesday marked the 53rd anniversary of its foundation in a toned-down event, out of respect for the victims of the recent deadly Itaewon crowd crush. The annual event, held at a convention center in Suwon, Gyeonggi Province, is typically one of the Korean tech giant’s biggest celebrations. This year in particular, speculation was running high that recently promoted Chairman Lee Jae-yong would unveil concrete plans for his “New Samsung” vision. But the moo
Nov. 1, 2022
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Instagram back after 8-hour global-wide service malfunction
Meta-owned social networking service Instagram said Tuesday its software bug, which resulted in a global-scale malfunction and affected random users, was fixed after eight hours. According to a US-based service outage-tracking website Downdetector, reports regarding the malfunction of Instagram soared starting around 10 p.m. Monday in Korea. Reports of the Instagram service malfunction soared from 305 at 9:48 p.m. to 7,300 at 11 p.m. Reported in-app type failures varied, such as suspension of ac
Nov. 1, 2022
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Samsung's W130tr market cap evaporates in 10 months
Sixteen affiliates of South Korea's No. 1 business conglomerate Samsung have seen a drop in stock market cap by 129.36 trillion won ($90.78 billion) combined during the period of January to October, data showed Tuesday. This means nearly 20 percent of the market cap of the affiliates has evaporated compared to the end of 2021, according to the stock market data compiled by business intelligence Leaders Index. As a result, Samsung's 16 affiliates saw a total market cap of 541.8 trillion wo
Nov. 1, 2022
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[Herald Interview] Strong intellectual property protection critical for drug innovation
Strong intellectual property protection is a key factor for pharmaceutical and biotechnology firms to become global household names, according to a high-ranking official at the International Federation of Pharmaceutical Manufacturers and Associations. “Because our industry is one of the most highly regulated industries, so what’s necessary in order to excel in that situation is, of course, the ability to innovate first and foremost. But that is only allowed through very strong intel
Oct. 31, 2022
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Science Ministry mulls developing system to warn crowd crush
South Korea's science ministry is considering to develop a system that could warn authorities of potential crowd crush accidents by using digital data and technology to predict risk elements and the route of crowd movements. The new system was proposed at an emergency safety inspection meeting held by the Ministry of Science and ICT on Monday following the death of 154 people in a crowd crush that occurred Saturday evening during Halloween celebrations in Itaewon, central Seoul. “We h
Oct. 31, 2022
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Naver to inject W5.2b for joint research on AI-based content with Univ. of Toronto
Naver said Monday it will inject 5.2 billion won ($3.6 million) over the next five years, along with Canadian social storytelling platform Wattpad which has become part of the company last year, to conduct joint research on AI-based content service platforms with the University of Toronto. South Korean internet giant said this study would allow application of advanced, exclusive technologies to Wattpad’s content platform leading to more innovative user experience. Naver bought Wattpad at
Oct. 31, 2022
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SK hynix says Arm stake acquisition 'not underway'
South Korean memory chip maker SK hynix said it is not pursuing a plan to acquire a minority stake in the United Kingdom-based semiconductor intellectual property firm Arm, a filing showed Monday. "(SK hynix) has put various strategic options on the table to strengthen our competitive edge and enhance shareholder value, but we hereby notify that there is no ongoing process for consortium-based acquisition of Arm as of now," read the firm's recent filing with the Financial Supervis
Oct. 31, 2022
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Samsung Biologics looks to woo global clients at CPhI Worldwide
FRANKFURT -- Samsung Biologics, the world’s largest contract manufacturing and development organization by production capacity, is looking to attract global customers at this year’s Convention on Pharmaceutical Ingredients Worldwide, officials said Monday. CPhI is one of the biggest international pharma industry events that draws leading businesses and professionals from across the globe. Taking place in major European cities each year, this year’s event is held in Frankfurt, G
Oct. 31, 2022
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Korean electronic firms lag behind in renewable transition
South Korean electronics giants are facing calls to accelerate renewable transition and set up climate goals across the supply chain, despite earlier pledges to go carbon neutral across their operations. In a report Friday by environmental group Greenpeace and grassroots organization Stand.earth, Korean electronics goods sellers Samsung Electronics and LG Electronics were ranked "F" in terms of progress toward reducing greenhouse gas emissions, on the scale of "A" to "F.
Oct. 28, 2022
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Samsung's operating profit falls 30% amid grim outlook
Samsung Electronics' operating profits dropped by more than 30 percent on year, despite record sales, amid the weakening business environment in the semiconductor sector. According to Samsung Electronics on Thursday, the company logged 76.78 trillion won ($54 billion) in sales and 10.85 trillion won in operating profits in the third quarter. The company’s device solutions unit, which is in charge of Samsung’s chip businesses, saw its operating profits almost halve to 5.12 trillion wo
Oct. 27, 2022
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Science Ministry mulls guideline for Kakao to compensate free-service users
The Ministry of Science and ICT said Thursday that it is mulling writing a guideline on how tech giant Kakao should compensate its free-service users who suffered damages during its service outage earlier this month. The government hopes that the guideline, which would be the first of its kind, would help expedite the compensation process under a "first compensate" principle, a ministry official told Yonhap. This comes after Kakao Chief Executive Officer Hong Eun-taek said the company
Oct. 27, 2022
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Blockchain firm X-widget tests art NFT service with gallery
Blockchain company X-widget said it began a pilot service of a platform for non-fungible tokens that it developed with a major local art gallery to use NFTs as proof of ownership of digital assets such as artworks. The NFT Contest Market Your Own Pick, or NCOP, is a Web 3.0 platform that allows users to discover and assess the value of artworks using NFTs. It is a blockchain-based decentralized application that will be officially launched at the end of this year. Based on a strong community of a
Oct. 27, 2022
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X-widget's AIIN to provide information all about virtual assets
Blockchain company X-widget said Thursday it is developing a virtual asset information-providing solution called Artificial Intelligence Index (AIIN) by combining artificial intelligence and big data technologies. The service is set to launch in early 2023. The new service will use X-widget’s independent blockchain platform to provide virtual asset-related indexes, a prediction on virtual asset prices, a collective virtual asset management service, and an investment community network servi
Oct. 27, 2022
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Taking Samsung’s top post, Lee Jae-yong vows to seek out transcending technology
Samsung Electronics Vice Chairman Lee Jae-yong has been promoted to chairman of the world's largest chipmaker and smartphone maker, ending a high-profile succession process that took more than three decades to complete, with a vow to invest in transcending technology that could reboot the tech giant's growth engine. Lee, 54, was crowned Samsung Electronics' new executive chairman with the board of directors' approval Thursday morning, 10 years after he held the vice chairman
Oct. 27, 2022
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Boryung acquires Korean rights to Eli Lilly’s lung cancer drug
South Korean drug maker Boryung has acquired the selling rights of Alimta, a non-small cell lung cancer treatment developed by US pharmaceutical company Eli Lilly, for the local market. According to Boryung on Tuesday, the acquisition agreement also included the copyright and licensing rights of Alimta in the country. First introduced in Korea in 2006, Alimta was the first drug to significantly reduce the anti-cancer drug’s adverse effects and toxicity while improving the survival rate of
Oct. 26, 2022
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Tech giants tighten belts amid uncertainties, bleak outlook
South Korean electronics giants are bracing for uncertainties across the board, with some leading exporters mapping out belt-tightening plans to address the situation that some have described as grave as the 2008 global financial crisis. Memory chip supplier SK hynix is one of the companies hit hardest by slowing consumer demand and the US-China tech arms race. The memory chip downcycle follows a pileup of order backlogs, and uncertainties are growing in its Chinese operations due to semiconduct
Oct. 26, 2022