Celltrion announced Wednesday that the company received approval from the US Food and Drug Administration for two more dose versions of its Humira biosimilar Yuflyma, for 20 and 80 milligrams. Yuflyma is a copycat version of AbbVie’s blockbuster drug Humira, used to treat many inflammatory conditions in adults such as rheumatoid arthritis and psoriatic arthritis. With the FDA’s latest approval, Celltrion is now able to sell three different dose versions of Yuflyma in the US. The 40 m

Industry Oct. 4, 2023

Samsung Biologics has raised the full-year earnings estimate in its company guidance again to 3.6 trillion won ($2.6 billion) for this year, up some 20 percent from last year, according to its regulatory filing released on Wednesday. It was the second time this year for Samsung Biologics to increase the estimate of its annual earnings. Earlier in April, the company raised its estimated earnings from sales to 3.52 trillion won. “(Samsung Biologics) has readjusted (the estimated earnings in

Industry Oct. 4, 2023

The wealth gap between younger and older adults has widened over the last few years, largely depending on whether they own houses or not, according to the country’s statistics agency, Wednesday. According to the Statistics Korea’s report, the wealth gap between adults aged 40 and above and adults younger than 40 has widened by 45 percent over the last three years, from 160 million won ($118,000) in 2019 to 230 million won in 2022. Kim Mee-roo, a researcher at the Korea Development In

Industry Sept. 27, 2023

Asiana Airlines’ initial response to a recent midair door-opening incident was "inappropriate" and will be fined for it, the South Korean government's investigation showed, Rep. Park Sang-hyuk of the main opposition Korea Democratic Party said Wednesday. According to a report Park received from the Ministry of Land, Infrastructure and Transport, the ministry has imposed a fine on Asiana Airlines and recommended country’s second largest air carrier take corrective actio

Industry Sept. 27, 2023

Samsung Biologics said Monday the company participated in CSLA's flagship investor forum which was held in Hong Kong on Sept. 11-14, to promote the company’s vision and business strategy. The investors’ forum, one of the largest of its kind in Asia, is held by CLSA, an institutional broker and investment group owned by CITIC Securities. Around 400 Asian companies and some 3,000 people from the industry joined the latest edition of the forum. Samsung Biologics was the only Korean

Industry Sept. 25, 2023

Tourism during South Korea’s Thanksgiving holiday of Chuseok is expected to rebound to pre-COVID-19 levels, industry sources said Sunday. According to Incheon Airport, the number of passengers who will be using the country's main gateway between Sept. 27 and Oct. 3 is expected to reach 1.2 million, an average of about 170,000 each day. The number has also recovered to 96.6 percent of the corresponding figure in 2019. The figure is also up by 186.7 percent compared to the previous ye

Industry Sept. 24, 2023

South Korean confectionery company SPC Samlip has joined global food trade fair Anuga to promote Korean dessert products, the company said Thursday. Anuga is an annual food trade fair held in Cologne, Germany. This year’s edition will run between Oct. 7-11, featuring around 8,000 companies from 100 countries. During the fair, which will attract over 100,000 visitors, SPC Samlip will introduce its 53 products, ranging from yakgwa (deep-fried honey cookies) to hotteok (sweet pancakes with br

Industry Sept. 21, 2023

South Korean biotech company Next & Bio, which specializes in developing organoid-based medicine solutions, aims to build the largest organoid library in Asia, its CEO told The Korea Herald in a recent interview. Organoids are cell-based in vitro models that mimic many aspects of the complex structure and function of the corresponding human organs. Organoid-based systems have been recently spotlighted as alternatives to animal experimentation in clinical research and precision medicine. &ldq

Industry Sept. 21, 2023

South Korean biopharmaceutical company Samsung Biologics said Wednesday that the company achieved a stellar performance last year to stand shoulder to shoulder with top global pharmaceutical companies, buoyed by an array of large contract manufacturing deals. The company has been ranked in 37th place in market research company GlobalData’s list of the world's top 50 pharmaceutical companies in 2022, up 13 spots from 2021. According to the rankings, which listed companies based on thei

Industry Sept. 19, 2023

Samsung Biologics said Monday that the company signed a $242 million contract manufacturing deal with Bristol-Myers Squibb subsidiary Swords Laboratories to produce immunotherapy treatments until 2030. Under the latest contract, Samsung Biologics will produce the flagship immunotherapies of BMS at the company’s fourth plant over the next seven years. BMS, the world's seventh-largest biopharmaceutical company as of 2022 in terms of its sales, has been a client of Samsung Biologics sinc

Industry Sept. 18, 2023

McDonald's Korea said Friday that the company has upgraded its self-service kiosks for visually impaired customers at 15 stores located in Seoul. The company said the new kiosks come with new keypads and headphone jacks, through which visually impaired users can connect their headphones and browse the menu. The 15 stores have been selected based on their proximity to welfare institutions, education institutes and job centers for visually impaired people. McDonald's Korea noted that t

Consumer Sept. 15, 2023

Musinsa, the largest online fashion platform in South Korea, has kicked off a preview event that showcases local fashion brands' collections for spring-summer 2024, the company said Friday. Under the title of “24ss Musinsa Season Preview,” the company will showcase over 200 products designed by 30 local brands at Musinsa Terrace Seongsu and Musinsa’s three separate offline studios in the Seongsu-dong neighborhood in eastern Seoul. Musinsa's latest event has been organ

Consumer Sept. 15, 2023

Posco Holdings said Thursday that the company has agreed to cooperate with CF Industries, the world's largest ammonia producer, to co-produce blue ammonia in the US. CF Industries operates ammonia manufacturing plants across the US and Canada, with an annual manufacturing capacity of around 9 million metric tons. Under the agreement signed in Seoul earlier in the day, Posco Holdings and CF Industries will work together on a blue ammonia project in Louisiana. The two companies will build a n

Industry Sept. 14, 2023

South Korean bakery giant SPC Group said Wednesday that it is opening nine new Paris Baguette stores in North America this month, seeking a bigger footing in one of the key strategic markets. With the planned nine new openings, SPC will be operating a total of 150 stores in the region. In Canada, SPC will open a Paris Baguette store at the Southpark on Whyte, a residential complex located in Alberta on Friday, while another outlet is set to open in Newmarket, Ontario, next week. In the US, seven

Consumer Sept. 13, 2023

Kolmar Korea announced Monday that the company has won a lawsuit against Italian cosmetics manufacturer Intercos’ local office here, which allegedly transferred trade secrets about sun care product technology. According to Kolmar Korea, the Seoul Central District Court has ruled in favor of Kolmar Korea in a civil case, in which Kolmar Korea accused Intercos Korea and its two former employees of stealing confidential technologies related to Kolmar’s sun care products. The court has o

Industry Sept. 11, 2023