Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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Genexine’s COVID-19 drug to begin phase 1 trial in Korea
Genexine‘s COVID-19 treatment candidate GX-17 was given the Korean drug authority’s grant to proceed to phase 1 human trials, Friday. GX-17 is a protein drug recombining human IL-7 and hybrid Fc (hyFc) that the company had been developing as an anti-cancer treatment. It is a T-Cell growth factor that proliferates a patient‘s immune cells, by which it slows the progression of an illness and hastens recovery. With the addition of GX-17, South Korea now has 13 treatment resea
Aug. 7, 2020
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Daewoong fights for continued availability of Jeuveau in US
Daewoong Pharmaceutical on Friday accused the US’ International Trade Commission’s decision to put a 10-year sales ban on its botulinum toxin product of “lacking evidence” and being “biased and distorted.” Daewoong said it has filed a detailed complaint to the USITC for its “significant errors.” Daewoong has been enwrapped in legal battles in Korea and in the US against Medytox for nearly five years over an alleged theft of trade secrets by a for
Aug. 7, 2020
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Celltrion operating profit rises 118% to it new record
Celltrion posted a record-setting second quarter report on Friday, citing Truxima’s rapid market uptake in the US and increased productivity at its reinforced plant No. 1 in Songdo, Incheon. Celltrion’s second quarter revenue reached 428.8 billion won ($361.7 million), up 82.5 percent on-year, and operating profit hit 181.8 billion won, up 118 percent on-year. Both are the highest numbers Celltrion has reported in any quarter. The company is confident it has ample power to generate
Aug. 7, 2020
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Enzychem Lifesciences’ COVID-19 drug proceeds to phase 2 trial
Enzychem Lifesciences’ COVID-19 treatment candidate EC-18 was granted by the US’ Food and Drug Administration to carry out phase 2 clinical trial on confirmed patients, the company said Friday. In this phase 2 clinical trial, Enzychem Lifesciences will confirm the therapeutic effects of EC-18 for acute respiratory distress syndrome prevalent in COVID-19 patients with pneumonia. EC-18 is a novel drug candidate that had been in phase 2 clinical trials for chemoradiation-induced oral
Aug. 7, 2020
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Nexon enjoys record Q2 revenue despite lackluster Chinese business
Nexon on Thursday posted a record second-quarter revenue of 730.1 billion won ($615.4 million), a 20 percent jump on-year, thanks to the strong sales of both PC and mobile games, despite its lower-than-expected performance in China. The Korean game company witnessed an operating profit of 302.5 billion won, a whopping 106 percent surge on-year in the same period, propelled by the growth of already popular PC games and the success of newly released mobile games based on those popular PC games
Aug. 6, 2020
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[Herald Interview] Arvelle was founded to in-license cenobamate: CEO
Arvelle Therapeutics, founded in 2019, is a Switzerland-based biopharmaceutical company that focuses on innovative central nervous system drugs. The company’s noticeable idiosyncrasy? It has only one pipeline, which happens to be South Korean SK Biopharmaceuticals’ cenobamate, a drug used to treat partial-onset seizures in adults. “Arvelle was founded to in-license cenobamate,” said Mark Altemeyer, CEO of Arvelle, in an exclusive interview with The Korea Herald held acr
Aug. 6, 2020
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[Monitor] S. Korean government plans new housing projects on state-owned properties
The South Korean government plans to supply 132,000 housing units in Seoul and its neighboring areas, according to an announcement made by the Finance Ministry on Tuesday. For this, the government has decided to ease regulations for reconstruction of aged apartments, as well as utilizing the government’s idle properties in the metropolitan areas. Of the 132,000 units, 33,000 units will be provided in Seoul by repurposing state-owned properties and public spaces that have been sitting i
Aug. 6, 2020
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[Time to Play] Super Tank Blitz, Smilegate’s creative game that lacks details
The beauty of Sumo is in its simplicity. Whoever pushes the opponent out of the ring wins. Thanks to this simplicity, there’s no need to study or understand the sport. Spectators just know how the game works by instinct. Smilegate’s 2D mobile tank battle game Super Tank Blitz works in a similar way. Whoever destroys the opponent’s tank first wins, either by firing artillery shells or pushing it off a cliff. It is also highly ingenious, as Super Tank Blitz allows users to
Aug. 5, 2020
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State-led 5G transition gives boost to bullet-proof material of Kolon, Hyosung
Thanks to President Moon Jae-in’s push for the 5G network, Korean chemical companies are getting an unexpected boost as demand has surged for aramid, a material used for bulletproof vests and a vital ingredient for 5G cables. As part of Moon’s Digital New Deal initiative, the nation’s major telecommunications firms -- SK Telecom, KT, LG U+ and SK Broadband -- said last month they would invest 25 trillion won ($21 billion) to establish a nationwide 5G network by the first ha
Aug. 5, 2020
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Samsung Biologics launches S-CHOice cell line expression technology
Samsung Biologics on Tuesday launched a proprietary cell line expression technology called S-CHOice, intent to improve its contract development services by shortening the drug development period for clients and lowering their drug product costs. Through an online ceremony streamed via YouTube, the company’s vice president of contract development business, Yang Eun-young, and director of cell line development, John Gill, introduced S-CHOice, which the company will offer to “all clie
Aug. 5, 2020
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Posco International, RDA to support Myanmar‘s farming market
Posco International and the Rural Development Administration will jointly support farmers in Myanmar and strengthen the value chain of food projects through public-private cooperation, the company said Wednesday. The nation’s largest trading company said it has signed a memorandum of understanding with the RDA to improve the value chain of Myanmar’s rice business, ranging from variety, cultivation, processing and distribution. The ceremony, held in Posco International’s Se
Aug. 5, 2020
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Coupang, LG Chem narrow gap with global No. 1 firms
Seven Korean companies, including Coupang and LG Chem, have narrowed their revenue gap with global No. 1 companies over the past five years, data showed Wednesday. Local corporate tracker CEOScore surveyed revenues of the world’s No. 1 companies and No. 1 firms in Korea in their respective fields from 2014 to 2019. The results showed that Korean companies narrowed the sales gap with the global No. 1 companies compared to five years ago in seven industries: including chemicals, pharmace
Aug. 5, 2020
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[Herald Interview] ‘Opportunities lie ahead for Europe, Korea in sustainability’
The new chief of the European Chamber of Commerce in South Korea believes there are many opportunities for Korean and European companies to cooperate in sustainability areas in the future. “In Europe, sustainability, particularly environment, has been a strong focus for many years and there are many technologies developed related to clean energy. I can see many opportunities for cooperation between European and Korean companies in the areas,” said Dirk Lukat, a new chairperson of
Aug. 5, 2020
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[Monitor] Chinese, Americans own most homes in Korea
From the beginning of 2017 until the end of May of this year, a total of 23,219 foreign nationals have purchased apartments in South Korea, with the number of units reaching 23,167. The data was released by the National Tax Service as it announced plans to launch a tax probe against 42 foreigners who own multiple homes with suspicions of evading taxes. The government has been tightening rules and imposing higher taxes in their attempt to curb housing prices in Seoul. (khnews@heraldcorp
Aug. 5, 2020
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Booking.com to cut thousands of workers after COVID-19 travel hit
Booking Holdings Inc. is the latest online travel giant to eliminate thousands of jobs after the coronavirus pandemic hammered the industry. As much as 25 percent of employees at Booking.com, the company’s biggest business, will be cut, the company said in a statement Tuesday. That’s about 4,000 workers. The reductions will be implemented globally. Chief Executive Officer Glenn Fogel discussed the move during a video call with workers, saying the past five months represe
Aug. 4, 2020
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Hanmi’s once returned pipeline finds new partner in US
Hanmi Pharmaceutical licensed out HM12525A to American firm MSD on Tuesday as a nonalcoholic fatty liver treatment candidate -- a promising turn of events after the pipeline was returned by Janssen last year. HM12525A, variably known as “LAPSGLP/Glucagon receptor dual agonist” and “efinopegdutide,” was first licensed out to Belgium’s Janssen in 2015 as a potential treatment for obesity and diabetes. Janssen later determined in 2019 to cease the research and return
Aug. 4, 2020
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Bioneer to supply Colombia with W5.6b worth of COVID-19 kits
Bioneer signed a deal worth 5.6 billion won ($4.7 million) to supply the South American country of Colombia with COVID-19 test kits and sequencing machine, the company said Tuesday. Bioneer has the capability to provide both COVID-19 test kits and the sequencing machine to read the kits. It asserts to be the only Korean firm with such total-solution capacity. Under the new deal, Bioneer will provide 5 billion won worth of COVID-19 kits and 600 million won worth of machinery to Colombia in the
Aug. 4, 2020
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US slaps Korean wind towers with 5.41% anti-dumping tariff
The US International Trade Commission has greenlighted a 5.41 percent anti-dumping tariff on wind towers imported from South Korea, citing that the local industry there has been “materially injured.” According to the Korea International Trade Association on Tuesday, the ITC made a final ruling Thursday to issue the tariff on the imports of utility-scale wind towers from Korea, saying the products are sold at “less than fair value” in the US market. Wind towers are st
Aug. 4, 2020
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Samsung to hold first-ever online ‘Unpacked’ on Wednesday
Expectations are running high ahead of Samsung Electronics’ first-ever online unpacking event Wednesday, as the South Korean tech giant is expected to introduce the Galaxy Z Fold 2 with a fuller display. At Samsung Galaxy Unpacked 2020, which is scheduled for 11 p.m., Samsung will introduce five products -- the Galaxy Note 20 phablet, Galaxy Z Fold 2 foldable smartphone, Galaxy Tab S7 tablet, Galaxy Buds Live wireless noise-canceling earbuds and the Galaxy Watch 3 smartwatch. Due to c
Aug. 4, 2020
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[Monitor] Lotte’s Shin Dong-bin tightens grip on conglomerate
Last week’s disclosure by family members of the late Lotte Group Chairman Shin Kyuk-ho with regard to changes in their stakes in the group after inheriting assets from Shin showed that his second son, current Chairman Shin Dong-bin, has further expanded his control over the group. Friday was the deadline for members of the Lotte owner family to report their inheritance taxes, which are estimated to total at least 450 billion won ($376.94 million). The founder died in January and his two
Aug. 4, 2020