Hyundai Engineering has landed a $2.2 billion refinery development project deal in Balikpapan in Borneo, Indonesia, reestablishing its position as a powerful player in the petrochemical market, the company said Wednesday. Indonesia is the biggest petroleum producer among the Association of Southeast Asian Nations. The Balikpapan refinery is located in the East Kalimantan province, some 20 kilometers from the new capital of Indonesia.  According to Hyundai Engineering, Indonesia’s stat

Industry Sept. 26, 2019

The two-day 10th board meeting of the Asia Water Council ended Wednesday in Wuhan, China, sharing views on practical ways to address water crises in the region.The meeting discussed ways to further activate the “Water Project,” an AWC project driven to give financial support to each Asian country’s plans to resolve water crisis. The board also discussed the means to bolster financial integrity of the AWC. Some 100 people from 37 institutions participated in this year’s bo

Industry Sept. 26, 2019

Helixmith shares on Korea’s secondary bourse Kosdaq closed 30 percent lower at 120,000 won ($100) on Tuesday, the deepest dive possible in a day, after the company made an official report to shareholders regarding a bump in the clinical phase 3 trial results of its innovative drug candidate Engensis, Monday.Helixmith is better known by its 20-year-old name ViroMed. ViroMed was founded in 1999 as a bio venture that develops new and innovative drugs for cardiovascular and neurological diseas

Industry Sept. 24, 2019

The annual League of Legends World Championship will be held next week, with Korean teams including SK Telecom T1, Griffin and Damwon Gaming in the mix.The LoL Worlds will kick off on Oct. 2 in Berlin, with the quarterfinals and semifinals starting from Oct. 26 in Madrid, culminating with the final round on Nov. 10 in Paris. According to game maker Riot, the main stage groups have been drawn and the Summoner’s Cup trophy will come in a Louis Vuitton trunk in a new collaboration with the up

Industry Sept. 24, 2019

Celltrion received a positive opinion for marketing its subcutaneous-type Remsima from the Committee for Medicinal Products for Human Use of the European Medicines Agency, the company said Monday. A CHMP positive opinion usually indicates that the company will eventually gain EMA‘s approval, Celltrion said, making vows to dominate the 45 trillion won ($ 37.7 billion)-size TNF-alpha inhibitor market by 2038. Celltrion has applied for a patent for Remsima SC in approximately 130 countries.&n

Industry Sept. 23, 2019

Artificial intelligence is here to stay, according to GE Healthcare Chief Medical Officer Mathias Goyen, who highlighted its role in advancing precision medicine.“AI per se will not replace radiologists, but professionals who leverage the power of AI will replace those who don’t,” he told reporters Friday.Goyen was speaking on the sidelines of the 75th Korean Congress of Radiology that took place at Coex exhibition hall in Seoul through Saturday and was joined by his colleague

Industry Sept. 23, 2019

Korean game company Smilegate is bringing its annual Crossfire Stars global competition to Egypt, a rare destination for e-sports, the company said Friday. This will be the first time the company has held the e-sports event in Africa. CFS teams have begun to fly in to Cairo, Egypt, for the CFS Invitational Egypt 2019 slated for Saturday.  The winning team gets to compete in the grand final in China in December. The scope of the prize money is yet to be confirmed. A Smilegate representative

Industry Sept. 20, 2019

NHN’s cloud solution Toast acquired the ISO27799 mark for its ability to guarantee cybersecurity for medical data, the company said Thursday.With the acknowledgement, NHN said it is now actively knocking on doors of health care institutions to expand its portfolio. ISO27799 is the global guideline for health informatics data management, set by the International Organization for Standardization. Health care data such as patient diagnosis and treatment records are sensitive, personal informa

Industry Sept. 19, 2019

South Korea’s Chong Kun Dang and Hanmi Pharmaceutical said Thursday they presented their research results of novel diabetes treatments at the 2019 European Association for the Study of Diabetes held in Barcelona, Spain.At the 55th annual event held from Monday through Friday, Chong Kun Dang reported the efficacy of its thiazolidinedione type diabetes treatment Duvie for patients with insulin resistance syndrome. It is the 20th in the list of novel drugs developed in Korea and was commercia

Industry Sept. 19, 2019

　Biosimilar company Celltrion and Korea Development Bank said Wednesday they plan to form a 200 billion-won ($168 million) fund to fuel the bio-health industry. 　Celltrion CEO Seo Jung-jin and KDB Chairman Lee Dong-gull have signed a memorandum of understanding to collaborate in identifying promising startups and investing in them.　They will also work together in realizing Celltrion’s previously pledged vision to invest 40 trillion won by 2030.  　Seo had announced in May that he would

Industry Sept. 18, 2019

　US-based DuPont Electronics & Imaging said Wednesday that it has completed a new plant in Cheonan, South Chungcheong Province, that will focus on the production of liquid polyimide (PI) for flexible display substrates. 　The company is seeking to tap the growing demand for future materials that enable bendable displays. 　Liquid Polyimide is a cutting-edge material that can replace hard, brittle glass substrates for various form factors such as foldable, rollable, bendable or transparent disp

Industry Sept. 18, 2019

   Philips said it is showcasing various artificial intelligence solutions for health care at the 75th Korean Congress of Radiology, held Wednesday through Saturday at Coex in southern Seoul. 　Demand for better medical services is on the rise globally, but resources, including human resources, are increasingly on the decline, said Philips, calling for “more effective remedies, improved patient experience, enhanced workflow for medical staff and lowered medical cost.” 　The a

Industry Sept. 18, 2019

진행자: 임정요, Kevin Lee Selzer1. Samsung, LG spar over picture quality of 8K TVs기사요약: LG전자는 삼성전자의 2019년형 8K TV가 콘트라스트 모듈레이션 (선명도)에서 13퍼센트라는 낙제점을 받았다고 맹렬히 공격하고 있다. 국제기관이 정한 화질을 결정하는 요소로 8천개의 픽셀수 뿐만 최소 50퍼센트의 선명도를 충족해야하는데, 삼성이 TV의 시야각을 개선하기 위해 덧붙인 필름이 선명도를 기준 미달로 떨어뜨린게 아닌가 의혹을 제기하고 있다.아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2팟빵 (안드로이드): http://www.podbbang.com/ch/6638[1] South Korean tech giants Samsung Electronics and LG Electronics sparred again Tues

Podcast Sept. 18, 2019

South Korean game companies are preparing to launch potential blockbuster mobile titles in the last quarter of this year, hoping to boost their bottom line.NCSoft is staking its bet on the mobile 3D massively multiplayer game Lineage2M -- the game investors and venture capitalists as well as fans of the original Lineage game have been doggedly asking about from the beginning of this year.Advance sign-ups for Lineage2M began Sept. 5 and broke the 1 million threshold within seven hours, then escal

Industry Sept. 16, 2019

Korean pharmaceutical companies are making inroads into Central and South America, betting on steady growth of markets in the region. Samsung Bioepis, Celltrion Healthcare, Boryung Pharmaceutical, CJ HealthCare and Hanmi Pharmaceutical all announced in the first half of 2019 that they would begin or expand commercialization of flagship drugs overseas.Samsung Bioepis, the novel bio drug development arm of Samsung BioLogics, said Tuesday that it has begun sales of its autoimmune disease treatment

Industry Sept. 15, 2019