South Korean discount chain Homeplus announced Friday that it reopened its Chilgok branch in Daegu earlier this month, in an aim to refresh the branch into a leading regional shopping complex. The Homeplus Mega Food Market at Chilgok is the only large-scale retailer serving northern Daegu, separated from the bustling southern part of the city by the Geumho River. Homeplus expects the renovated store to be a central hub for the local community, offering an exceptional shopping, dining and enterta

Companies Sept. 13, 2024

South Korean biosimilar giant Celltrion will continue to supply trastuzumab biosimilar Herzuma to Brazil, the company announced Friday. The company won the bid to supply a trastuzumab biosimilar to the Brazilian Federal Government for the fifth consecutive year. Under the contract, Celltrion will provide 660,000 vials of Herzuma through 2025. Celltrion remains the sole trastuzumab provider for the Brazilian government, with its Herzuma accounting for more than 50 percent of the market annually.

Companies Sept. 13, 2024

Celltrion’s Remsima SC, the world’s only subcutaneous formulation of infliximab, has reached a record market share in Australia, the Korean biosimilar giant announced Wednesday. According to data from pharmaceutical market research firm IQVIA, Remsima SC achieved a 20 percent market share for the first time in the first quarter of the year, a surge since its market debut in 2021. Celltrion said Remsima SC gained popularity in Australia for its convenience, allowing patients to admini

Companies Sept. 11, 2024

South Korean electric wire maker Taihan Cable & Solution announced Tuesday that it has completed Kuwait’s first fiber optic cable factory, as the company aims to localize production and tap into the Middle East’s growing demand for 5G network infrastructure. The factory, a joint venture with Kuwaiti construction and trade company Rank, held its grand opening on Monday local time in the Mina Abdulla industrial area. Equipped with advanced production and testing facilities, the 5,0

Companies Sept. 10, 2024

Korean beauty brands Medicube and Aprilskin have officially entered the UK market, South Korean beauty tech company APR announced Monday. The two brands are now available through London-based K-beauty retailer Pureseoul, which operates both online and in physical stores in prime shopping districts such as those of Soho, Westfield and Oxford. Pureseoul, a leading distributor of over 60 Korean beauty brands, is seen as a key partner in helping Medicube and Aprilskin gain a foothold in the UK marke

Companies Sept. 9, 2024

SK Telecom, South Korea’s largest wireless carrier by membership, announced Wednesday a partnership with Silicon Valley-based AI search unicorn Perplexity to revolutionize traditional keyword-based search into a more dynamic, conversational experience. With the conversational AI market projected to expand from $13.2 billion in 2024 to $49.9 billion by 2030, Perplexity CEO Aravind Srinivas and its sole Korean partner SK Telecom revealed their collaborative ambitions at a joint press confere

Technology Sept. 4, 2024

Innocean, a South Korean marketing communications agency under Hyundai Motor Group, announced Tuesday that it will serve as the main sponsor for the South Korean debut of Joopiter, the digital auction platform founded by global music and fashion icon Pharrell Williams. An exhibition of its latest online auction “Nothing But a ‘G’-Thang: The Art & Archive of G-Dragon” will offer an exclusive look into the personal archives of the K-pop icon G-Dragon’s career, fea

Companies Sept. 3, 2024

S-Oil will begin supplying domestically produced sustainable aviation fuel to Korean Air’s flights between Incheon International Airport and Tokyo’s Haneda Airport once a week, the company said Sunday, becoming the first refiner in South Korea to provide SAF for regular international passenger flights departing from a local airport. The first SAF-fueled flight took off last Friday, celebrated at a ceremony attended by key figures such as Minister of Trade, Industry and Energy Ahn Duk

Industry Sept. 1, 2024

Hankook Tire has launched a series of cultural projects to connect with younger consumers and communicate the brand's value in a fresh way. This summer, the tire maker launched a 10-day pop-up event at Surfyy Beach in Yangyang, Gangwon Province, where visitors enjoyed tire-themed attractions like water activities with inflatable tubes as well as interactive photo zones and game areas. Hankook Tire also collaborated with brands like Pro-Specs to create unique products, including sneakers in

Mobility Aug. 30, 2024

South Korean energy, retail and construction conglomerate GS Group announced Thursday that it has officially launched the GS Cultural Foundation, a move aimed at enriching the nation's cultural and artistic landscape. Chaired by GS Group Chairman Huh Tae-soo, the board comprises prominent figures including Kang Sue-jin, artistic director of the Korean National Ballet, Eugene H J Bang, former head of DBS Bank Korea, Rha Wan-bae, former vice chairman of GS Energy, and Lee Joon-myung, an attor

Industry Aug. 29, 2024

LG Chem, South Korea’s leading chemicals company, announced on Thursday the official opening of its new Customer Solution Center in Ravenna, Ohio, as part of its strategy to expand its presence in North America. The 8,300-square-meter, three-story facility is designed to provide comprehensive technical support to customers across the region, including product development, quality enhancement and productivity enhancement for LG Chem’s customers and suppliers. The center, which began c

Industry Aug. 29, 2024

South Korean beauty tech company APR, known for its Medicube brand, announced Wednesday that it has signed a supply agreement with The TJX Companies, a global retail giant operating nearly 5,000 stores across nine countries, including the United States and Canada. With this agreement, Medicube's popular skin care products and AGE-R beauty devices will now be available in TJX-owned stores like TJ Maxx and Marshalls, both well-established names in the North American retail landscape. The prod

Companies Aug. 28, 2024

South Korean biotech company GI Innovation announced Monday a new partnership with Merck Sharp & Dohme, a subsidiary of pharmaceutical company Merck & Co., to test its drug GI-102 in combination with MSD’s anti-PD-1 therapy Keytruda (pembrolizumab) for treating patients with immunotherapy-resistant liver cancer, melanoma and renal cell carcinoma. This marks GI Innovation’s second collaboration with MSD, building on their earlier work for GI-101A. The trial will specifically t

Companies Aug. 26, 2024

South Korean biopharmaceutical firm Celltrion announced Monday that it has received the European Commission’s final approval for Steqeyma, a Stelara (ustekinumab) biosimilar used to treat various autoimmune conditions. Steqeyma, or CT-P43, has been approved for use in all indications of reference product Stelara, including plaque psoriasis, psoriatic arthritis and Crohn's disease, following recent approvals in Korea and Canada in June and July, respectively. According to market resear

Companies Aug. 26, 2024

Hyundai Steel, Korea’s second-largest steelmaker, is moving to target the global low-emission steel market amid increasing demand from carmakers moving toward net zero emissions. Hyundai Steel recently signed a memorandum of understanding to supply low-emission steel plates to Tawesco, a leading Czech auto parts manufacturer, and Eusider, an Italian firm specializing in automotive steel plate processing. Both companies supply major European automakers, such as Volkswagen and Stellantis, an

Industry Aug. 25, 2024