Celltrion in talks with Mideast officials to export COVID-19 treatment

South Korean pharmaceutical giant Celltrion said Tuesday that the company has submitted marketing approval applications for the company’s COVID-19 treatment to health authorities in several countries in the Middle East. The countries include Saudi Arabia, United Arab Emirates, Jordan, Iraq and Morocco. Celltrion’s announcement on Tuesday followed a day after the company said it landed its first overseas supply deal to export 100,000 vials of Regkirona to Pakistan. Celltrion expects

May 11, 2021

[Herald Interview] Cosmetic surgery review app aims to capitalize on K-beauty boom

When walking into a restaurant, people usually have a sense about how expensive the food would be. But when it comes to cosmetic surgery clinics here, it is a different story. Not many -- perhaps none -- openly display the price of their services or procedures, not to mention the specs of medical equipment they use. “Say that I want to receive a skin toning laser treatment and there are two hospitals. One uses equipment that costs 200 million won (about $180,000), and the other uses o

May 10, 2021

Celltrion to export COVID-19 treatment to Pakistan

South Korean pharmaceutical giant Celltrion clinched the first overseas supply deal for its COVID-19 antibody treatment Regkirona, according to Celltrion Healthcare’s announcement on Monday. Celltrion Healthcare, which is in charge of Celltrion‘s overseas business, signed a contract with a state-run company in Pakistan to export 100,000 vials of Regkirona, enough for around 30,000 people. The firm will dispatch its experts to Pakistan to train medical workers who will administer t

May 10, 2021

Advisory panel gives nod to Moderna vaccine

A panel of medical experts here gave a nod to US pharmaceutical company Moderna’s COVID-19 vaccine, according to the Ministry of Food and Drug Safety, Monday. The advisory panel’s review is the first of the three-stage evaluation process before South Korea gives final approval. The next stage of the evaluation is scheduled on Thursday. If finally approved, Moderna’s COVID-19 vaccine would become the fourth COVID-19 vaccine to receive an approval from the South Korean govern

May 10, 2021

SK hynix promises more efforts to cut carbon emissions

SK hynix, the world’s second-biggest memory provider, vowed Monday to make more efforts to cut greenhouse gas emissions. The pledge was made alongside the chipmaker’s announcement of its social value figures for 2020. Since 2019, major affiliates of SK Group have been quantifying the values they created in three areas of “indirect contribution to the economy,” “social performance,” and “social contribution.” SK hynix put its indirect con

May 10, 2021

Naver, SNU to form 100-strong AI research arm

Naver, South Korea’s largest portal site, said Monday that the company will create a joint research arm with Seoul National University to delve into the field of artificial intelligence. The two sides held an online signing ceremony, agreeing on the need for research on Korean-based AI and the establishment of the SNU-Naver Hyperscale AI center. Around 100 AI researchers from Naver and the university will take part in the project for the next three years. The cooperation aims to de

May 10, 2021

Moon’s subtle tone shift revives hopes for Samsung chief’s early release

In a subtle but noteworthy change of tone, President Moon Jae-in on Monday spoke of the mounting challenges facing South Korean chipmakers when asked about the fate of the jailed Samsung Electronics chief Lee Jae-yong. “It is a clear fact that we need to further enhance the competitiveness of our semiconductor industry, with global competition on chips intensifying,” Moon told reporters in a nationally televised press conference. He then added that he also has to consider the

May 10, 2021

[#WeFACE] ‘Look through investors’ lens to understand ESG’: SK hynix official

The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed. To truly embrace the ESG trends in business management, it is important to look at things from an investor’s point of view, says Lee Bang-sil, vice president of South Ko

May 9, 2021

Seoul fine-tuning K-chip support measures

With government measures to help cement South Korea’s leadership in the global semiconductor market to be announced this week, industry watchers are paying keen attention to how much Samsung Electronics and SK hynix could benefit from the measures that would largely pivot on tax breaks. As early as Thursday, Seoul is expected to unveil what it calls the “K-Semiconductor Belt Strategy,” which could include drastic increases in tax benefits for chipmakers’ R&D projec

May 9, 2021

Samsung Electronics to transfer some 500 technologies to local SMEs

Samsung Electronics will share its 505 patented technologies with local small and medium enterprises, the Ministry of Trade, Industry and Energy said Friday. The list comprises 213 mobile technologies, 68 semiconductor technologies, 68 display technologies, 45 telecommunications technologies and 31 medical equipment technologies, and others. The SMEs that wish to benefit from the governments technology transfer program are required to submit their application via the ministry or the Korea Ins

May 7, 2021

Naver to expand its R&D network in North America

Naver plans to expand its research and development network in the North American region, particularly focusing on Silicon Valley, as part of its globalization efforts, according to officials. The research team is seeking talent from across the globe who will be allowed to work in either Korea or the US, the South Korean internet giant said at 2021 Naver Search Colloquium which took place online on Friday. Kim Jin-young, the newly appointed Head of Data Science and Director of US R&D at Nav

May 7, 2021

Roche Diagnostics receives approval for COVID-19 test

Roche Diagnostics Korea announced Thursday that the company has received approval for the cobas test, an assay used to specifically detect the severe acute respiratory syndrome coronavirus in laboratories settings. According to Roche, the cobas test is capable of qualitative detection and differentiation between SARS-CoV-2, Influenza A and Influenza B present in nasal swab samples collected from individuals suspected of a respiratory infection. Roche’s laboratory-based assay cobas SARS

May 6, 2021

Samsung’s foundry biz enhances chip packaging tech

Amid the heightening competition in the global chip foundry market, Samsung Electronics unveiled a new packaging technology Thursday that would help differentiate its foundry service.  Samsung said it has completed the development of the next-generation 2.5D packaging technology named Interposer-Cube4, or I-Cube4, which is immediately available for customers. Samsung’s I-Cube is a heterogeneous integration technology that horizontally places one or more logic dies, such as a CPU or

May 6, 2021

Kakao’s Q1 profit hits record high on mobility, fintech business growth

Kakao Corp., the operator of South Korea’s top messaging app KakaoTalk, posted a record-breaking revenue of 1.25 trillion won ($1.1 billion) for the first quarter, up 45 percent from a year earlier, the company said Thursday. Its operating profit also rose by 79 percent to a record-breaking 157.5 billion won during the same period, largely on the back of its taxi-hailing and digital wallet services. The relatively new platform business, including Talk Biz, Portal Biz and New Business, ra

May 6, 2021

KT to form AI lab with IBM Korea and Woori Bank

KT Corp., a South Korean telecom giant, said Thursday it has formed business ties with IBM Korea and local major banking firm Woori Bank to develop artificial intelligence (AI) technology for financial services. The three will establish an AI lab to develop new services, such as an AI-based language model specifically designed for the financial sector and an asset management system that uses AI technology to make quick and accurate market predictions, according to a statement from the telecom o

May 6, 2021

Samsung to maintain 3rd spot in hearables market in 2021: report

Samsung Electronics Co. is expected to stay on as the world's third largest vendor of true wireless stereo (TWS) products, including wireless earbuds, for this year as competition heats up in the fast-growing hearables market, a report showed Thursday. Samsung's market share in 2021 was estimated to stay unchanged at 7 percent and sit behind its rivals Apple Inc. and Xiaomi Corp., according to market tracker Counterpoint Research. The South Korean tech giant, which makes Galaxy Buds in-ear dev

May 6, 2021

COVID-19 self-test kits to hit local convenience stores shelves

COVID-19 self-test kits developed by local companies are available at convenience stores here, startubg Wednesday. GS Retail announced Wednesday that the company’s convenience store chain GS25 would begin the sale of COVID-19 self-test kits at around 2,000 locations nationwide, the South Korean retail company said. They products would be also available at the company’s grocery store chain GS Supermarket and health and beauty chain Lalavla, starting on Friday. There are two produ

May 5, 2021

[Herald Interview] AI inevitable force to shape education: Riiid

Education has always been slow to adopt new technologies. But with the COVID-19 pandemic and schools forced to move online over infection risks, the time has finally come for it to embrace the artificial intelligence. “COVID-19 is making AI inevitable,” said David Yi, an executive from Riiid, a Seoul-based AI education startup said in an interview with The Korea Herald. “In the US, students are all off campus, students are disengaged and are falling behind. How do we help thi

May 5, 2021

US trade court lifts import ban on Daewoong’s Nabota

The US International Trade Commission has lifted a 21-month ban on the sale of Daewoong Pharmaceutical’s botulinum toxin product Nabota, or Jeuveau, in the United States, according to an announcement from Medytox on Tuesday. The decision allows Evolus, a US partner of South Korea’s Daewoong, to resume sales of Nabota in the US, after a legal battle between Medytox and Daewoong over misappropriation of trade secrets. The dispute between the two Korean pharmas, Medytox and Daewoon

May 4, 2021

Samsung's presence in smartphone chipset market to decline in 2021: report

Samsung Electronics Co. is expected to lose its share in the smartphone chipset market this year, a report showed Tuesday, as Taiwanese and US rivals are to expand their presence with a rise in the 5G device sector. Samsung was estimated to take an 8 percent share in the global smartphone application processor (AP)/System on Chip (SoC) market in 2021, down 11 percent from a year earlier, to take the fourth spot, according to a report from industry tracker Counterpoint Research, The South Korea

May 4, 2021