Chong Kun Dang wins first overseas approval for phase 3 trial of COVID-19 treatment

Drugmaker Chong Kun Dang said Thursday that it has received an approval from the Ministry of Health of Ukraine to conduct a phase 3 clinical trial of their COVID-19 treatment candidate, Nafabeltan. Ukraine is the first foreign country to authorize the final-stage trial of the South Korean pharmaceutical company’s self-developed COVID-19 treatment. In Korea, Chong Kun Dang received an approval from the Ministry of Food and Drug Safety in April. Ukraine is one of the seven foreign count

Sept. 30, 2021

SK Broadband countersues Netflix for net fees

SK Broadband said Thursday that it had countersued Netflix for network usage fees based on a June verdict that favored the South Korean company. The SK Telecom subsidiary, one of the country’s leading broadband internet access providers, said the suit, filed with the Seoul High Court, was a follow-up measure after Netflix failed to respond to SK’s proposals. “Despite the fact that massive investments are made in maintaining the internet network every year and the fact that

Sept. 30, 2021

Apple’s forthcoming iPhone 13 launch in Korea to put pressure on Samsung

With Apple set to launch the iPhone 13 in South Korea in early October, Samsung Electronics appears under pressure to safeguard its share not only on its home turf, but also in the increasingly competitive global smartphone market. Korea’s major mobile carriers plan to accept preorders for the iPhone 13 from Friday, with the official release date slated for Oct. 8, heralding a new round of competition among smartphone makers, especially Samsung Electronics which holds a firm grip on the

Sept. 29, 2021

Netflix says it brought W5.6tr into Korean economy

US-based content streaming giant Netflix has generated economic effects in South Korea worth 5.6 trillion won ($4.73 billion) and created 16,000 local jobs since its 2016 entry here, the company said Wednesday. At its first event for its Korean partners, the firm released a report written by Deloitte on the effects of its presence and investment in the country. Netflix commissioned the study. Since it launched here in 2016, the company has invested about 770 billion won in domestic content

Sept. 29, 2021

S. Korea to launch domestically developed rocket on Oct. 21

The South Korean government has confirmed Wednesday that it will launch the country’s first fully domestically developed satellite launch vehicle Nuri on Oct. 21 as scheduled. The Ministry of Science and ICT said the rocket, also known as Korean Space Launch Vehicle II, will blast off at 4 p.m. from the Naro Space Center in Goheung, South Jeolla Province. The time, however, could be slightly changed in accordance with weather conditions, an official from the ministry said. The official

Sept. 29, 2021

GC Pharma in talks with J&J for COVID-19 vaccine deal

South Korean biopharmaceutical firm GC Pharma is in talks with Janssen  to sign a contract manufacturing deal for Janssen’s COVID-19 vaccine, according to industry sources Wednesday. The sources said Janssen conducted a site inspection of GC Pharma’s drug manufacturing facility in Ochang, North Chungcheong Province, this month. The inspection was said to have gone without any particular issues. GC Pharma, however, has remained silent on rumors of a potential deal with the ph

Sept. 29, 2021

Platform businesses target for innovation, not regulation: minister

Amid growing calls for regulating thriving digital platform businesses, South Korea’s top policymaker on technology and science called for a shift in perspective, saying they should be seen as innovators rather than a target for regulation. Minister of Science and ICT Lim Hye-sook made the remarks while meeting executives of Korea’s leading platform companies, including Naver, Kakao, Woowa Brothers and Yanolja. It was the first time that the ministry organized such a meeting with

Sept. 29, 2021

S. Korea develops pliable battery for flexible robots, devices

A local research team has developed a new snakeskin-like structure that contains battery cells, which can be potentially applied to soft robots and a wide range of wearable devices. The Korea Institute of Machinery and Materials said Tuesday that a research team led by Jang Bong-kyun and Hyun Seung-min developed the material, inspired by the flexibility and structure of snake scales, that can be shaped without damaging rigid battery cells. The research team said the structure, which contains

Sept. 28, 2021

[Exclusive] Seoul may raise chip disclosure issue with Washington: minister

South Korea may bring the US’ request for data disclosures by local chipmakers up for discussion at a working-level bilateral dialogue, South Korean Minister of Trade, Industry and Energy Moon Sung-wook said Tuesday, amid growing unease here over the impact of the US’ strategic interest in the chip industry. “The industry is taking this very sensitively, so the government would discuss the matter (with the US side), if needed, to verify,” the minister told The Korea Her

Sept. 28, 2021

With Ford, SK Innovation aims to become top battery supplier in US

SK Innovation and Ford will inject $11.4 billion and create nearly 11,000 new jobs at three new battery factories in Tennessee and Kentucky to produce electric vehicles and batteries. BlueOvalSK, a joint venture between the South Korean battery firm and the US automaker, will establish a twin lithium-ion battery plants in central Kentucky to power a new lineup of Ford and Lincoln EVs. Another one will be set up in west Tennessee, where Ford workers will build next-generation electric F-series

Sept. 28, 2021

Global Netflix hit 'Squid Game' signals new round of streaming competition

For South Koreans who were children in the 1970s and 1980s, the phrase “squid game” is likely to evoke a mix of thrills and nostalgia. The tag game on a squid-shaped board drawn in the dirt was fairly tough to play -- sometimes brutal to the point of causing injury -- but it remained hugely popular, as making it to the final goal area after physically clashing with those on the defense was nothing if not exhilarating. Hwang Dong-hyuk, the director of “Squid Game,” is no

Sept. 27, 2021

S. Korea's 5G users continue to soar, but base stations grow at slower pace

South Korea’s 5G users increased by millions this year, but 5G network base stations are still being rolled out slowly, a local agency said Monday. According to data compiled by the Korea Communications Agency, the number of 5G users increased by 1.99 million during the second quarter this year to reach 17 million, up 13.7 percent on-year. As of June, 5G users accounted for 23.8 percent of the total mobile network users here. The number of 4G and 3G network users reached 50.5 million a

Sept. 27, 2021

Hyundai to use Samsung sludge to make steel

Samsung Electronics and Hyundai Steel announced Monday that they had developed a new wastewater recycling technology that would allow sludge from the chip manufacturing process to be reused for steelmaking. Their joint research found that calcium fluoride in the sludge was similar to fluorite, a material used in steelmaking to reduce melting temperatures and remove impurities. Hyundai Steel said it expected the deal to help the company save on costs, since South Korean steelmakers rely entirel

Sept. 27, 2021

CJ OliveNetworks to introduce NFT ticketing at BIFF

CJ OliveNetworks will introduce the country’s first “non-fungible token” tickets at the Busan International Film Festival next month, the company said Monday. A type of blockchain technology, NFTs are unique and not interchangeable. NFT-based tickets, therefore, allow ticket issuers to track holders of each ticket and prevent scalping or fraud. The company has named the ticketing service “One Order Ticket.” CJ has partner with domestic blockchain platform firm

Sept. 27, 2021

Korean chipmakers in quandary over US request

The US government’s strategic interest in chips is putting South Korean chipmakers in a quandary, as Washington adds pressure on chipmakers to share sensitive data on technology, clients and inventory status. With a stated purpose of solving the chip shortage, which is affecting automotive and other industries around the world, US authorities on Thursday held an online meeting with major automakers and chipmakers, which Samsung Electronics attended. Following the meeting, the US Depart

Sept. 27, 2021

S. Korea's 5G base stations account for 11% of total in Q2: data

The number of 5G network base stations in South Korea accounted for just 11 percent of the total in the second quarter, data showed Monday, amid continued user complaints against the latest generation networks. As of the April-June period, there were 162,099 5G base stations in the country, compared with a total of 1.47 million mobile network base stations, according to data from the Korea Communications Agency. The number of 5G base stations was far outnumbered by around 1 million 4G base sta

Sept. 27, 2021

Samsung asked to reveal information about supply chains in US

Including South Korea’s Samsung Electronics, technology companies and automakers were asked to make efforts to improve transparency about their US supply chains during a meeting hosted by US Secretary of Commerce on Thursday, according to news reports. Samsung was among a list of companies including TSMC, Intel, Apple, Microsoft and some automakers, which tuned into the meeting held via teleconference, according to the reports. The companies were asked to submit documents including inf

Sept. 24, 2021

LG Energy Solution jointly develops new solid-state battery

South Korea’s leading battery maker LG Energy Solution announced Friday that the company and UC San Diego have co-developed a new solid-state battery that is safer and more durable than existing ones. The research results have been published in Science, one of the top peer-reviewed academic journals, the company added. According to LG Energy Solution, the new solid-state battery, which uses both a solid state electrolyte and an all-silicon anode, has shown positive results during initi

Sept. 24, 2021

DataStreams marks 20th anniversary, vows to grow further

DataStreams, a data management and cloud solutions provider, marked its 20th anniversary with a pledge to accelerate the company’s growth in the next two decades. The company hosted a ceremony for the 20th anniversary of its foundation last Friday, holding it online due to the COVID-19 pandemic. Around 163 employees tuned into the event to celebrate the firm’s anniversary and its growth over the past 20 years. During the event, CEO Lee Young-sang highlighted the importance of l

Sept. 23, 2021

Celltrion to supply rapid COVID-19 tests to US govt.

Celltrion announced Thursday that it had won a contract to supply its rapid COVID-19 test DiaTrust to the US government. Starting Oct. 1, Celltrion USA, Celltrion’s US-based unit, will begin supplying COVID-19 tests to 25,000 sites, including military facilities, nursing homes and COVID-19 test centers. Under the deal signed with the US Defense Logistics Agency, the US authorities could buy more if needed. Celltrion said the total amount could reach 738.2 billion won ($626.61 million),

Sept. 23, 2021