A team of South Korean researchers developed an “OLED patch” that can be attached to the skin to help wounds heal using an organic light-emitting diode source aimed at damaged areas.　The technology was developed by a group of researchers led by KAIST’s Jeon Yong-min and Seoul National University Bundang Hospital’s Choi Hye-ryung. 　The finding were published in the academic journal Advanced Material Technologies on March 8. Prototypes of the OLED patch developed by the team of Korean researchers

Technology March 19, 2018

Cyworld, a South Korean first-generation social networking site that once dominated the country’s cyberspace, announced Monday the launch of a news curation app called “Que,” seeking to become Korea’s leading online news platform.The Korean social networking service firm’s news curation app consists of two main sections: the curation service NewsQ and Q-feed, a social media platform tailored to sharing news, according to Cyworld. 　NewsQ is a personalized news recommendation service that uses art

Technology March 19, 2018

South Korea’s Ministry of Food and Drug Safety has ordered a full inspection of two defibrillator models by Philips Medical Systems over concerns of potential defects.　According to the ministry, the inspection concerns two defibrillator models produced and sold by the US-based medical equipment company from 2002 and 2013 -- the 861304 HeartStart FRx Defibrillator and the HeartStart HS1. The ministry has also ordered that new product usage guidelines be issued to device users.A defibrillator is a

Industry March 18, 2018

LG Chem, South Korea’s leading chemicals maker under the LG Group, has obtained regulatory approval to begin marketing and selling its Enbrel biosimilar in Korea.　Korea’s Ministry of Food and Drug Safety on Saturday granted marketing approval for LG Chem’s Eucept, a cheaper biosimilar copy of Amgen’s blockbuster arthritis drug Enbrel (etanercept). Biosimilars refer to cheaper, near-replicas of living biologic drugs made from living cells through highly complex engineering processes, whose patent

Industry March 18, 2018

Kakao Taxi, South Korea’s most widely used taxi-hailing mobile app, recently announced the introduction of a “paid option” that would allow users to call up taxis faster or immediately by paying an extra fee on top of the ride fare.　The new feature, set to be rolled out by as early as late March, has been drawing mixed reactions from local users, despite Kakao’s reassurance that it will retain the current taxi-hailing service option offered free of charge.　Extra fees for faster pickup　Kakao Mobi

Technology March 18, 2018

Today, the global medical technology sector is at a crossroads. Despite a decline in health care spending and a sharp growth in the number of firms pursuing medtech, demand for products and services that promise the best patient outcomes and satisfaction is higher than ever.　In this age, developing a product alone cannot guarantee the success of a medtech company. Firms must instead focus on building, or integrating themselves into, an end-to-end solution that guarantees the best, most economic

Technology March 15, 2018

More than half of South Korea’s top biopharmaceutical companies calculate their research and development investments as assets, according to data released by a corporate tracker Wednesday, raising concerns that the accounting practice may be distorting firms’ net earnings.Korean corporate tracking firm CEO Score looked into the accounting practices of Korea’s top 50 biopharma companies with a market capitalization of more than 400 billion won ($375 million). Among them, 31 had disclosed their R&

Technology March 14, 2018

Kakao Taxi, South Korea’s most widely used taxi-hailing mobile app, is introducing a “paid option” that lets users call up taxis faster or immediately by paying an extra fee on top of the ride fare.　The move marks Kakao’s first attempt to monetize Kakao Taxi, which, despite amassing a large user base over the years, has yet to find a concrete business model for generating stable profits.　Kakao Mobility, which operates all of Kakao’s mobility services including Kakao Taxi under the collective Kak

Technology March 13, 2018

South Korea’s top science and technology university KAIST has called on the South Korean government to expand its financial support for the institute, as it seeks to strengthen its research and training programs and help Korea remain competitive in the new age of technology-driven economies.KAIST on Monday unveiled its “2031 vision” road map, which includes an action plan to innovate its academic training, pave new research areas, encourage more tech-driven entrepreneurship and build a more glob

Technology March 13, 2018

Samsung Bioepis, the new drug development arm of South Korea’s Samsung Group, has launched its Herceptin biosimilar in the UK through its local marketing partner MSD, becoming the first company to bring a cheaper copy of the blockbuster anticancer drug to Europe.　MSD, also known as Merck & Co. in North America, announced Thursday that Ontruzant, the first biosimilar copy of Roche’s breast cancer therapy Herceptin (trastuzumab), had begun sales in the UK. Biosimilars refer to cheaper, near-replic

Technology March 9, 2018

Samsung SDS, the IT solutions and logistics service arm of South Korea’s Samsung Group, is seeking to outshine rivals in the global logistics business with its smart logistics platform that leverages artificial intelligence and blockchain technology to improve operational efficiency.　The company on Thursday shared the latest upgrades to it smart logistics platform Cello -- an end-to-end integrated logistics solution that handles logistics process from start to finish, including supply chain plan

Technology March 8, 2018

South Korea’s Asan Nanum Foundation in partnership with US-based venture capital 500 Startups on Wednesday launched a new website offering helpful startup-related news, information and content in the Korean language.The website, called The Bridge, will offer translated texts of startup-related blog posts, information and news from entrepreneurs and investors overseas, to give Korean founders better access to relevant startup knowledge and resources available in English. The site will also genera

Industry March 7, 2018

YouTube has emerged as South Korea’s star mobile app, with Korean smartphone users spending the longest amount of time on the video-sharing platform than any other app.　Seoul-based app analytics firm WiseApp on Wednesday released data that counted and compared the minutes Korean Android users spend on four top-used apps here: KakaoTalk, YouTube, Naver and Facebook. (123RF)WiseApp monitored the monthly app usage time of 3,712 Android users above the age of 10 over two years, from March 2016 to Fe

Technology March 7, 2018

Ion Investments, which is controlled by Singapore’s sovereign wealth fund Temasek Holdings, has sold a part of its stake in South Korean biopharma company Celltrion and its distribution unit Celltrion Healthcare in a block deal worth around 1.1 trillion won ($1.03 billion).　News of the deal, which was made after the market’s close on Tuesday, led to the price of Celltrion and Celltrion Healthcare plunging by more than 10 percent Wednesday.According to news reports, Temasek on Tuesday

Market March 7, 2018

Kakao Corp., the operator of South Korea’s most widely-used mobile messenger, is foraying into the blockchain technology business, with possible plans to raise new capital by launching and offering for sale its own cryptocurrency.　In doing so, Kakao is joining the herd of other major internet technology firms that have embraced blockchain and crypto coins as promising businesses and methods of fundraising.　Kakao on Monday announced that it is planning to launch a new subsidiary focusing on block

Technology March 6, 2018