Macrogen, South Korea’s leading gene sequencing service provider, said Monday that it will work with local big data company Bigster to create a blockchain-based medical big data platform where information such as gene data can be safely stored and exchanged by interested parties. The two companies plan to complete the platform by June next year, joining a number of other firms that are also working to launch a blockchain-based medical data trading platform here.Gene data, which carries critical

Technology Aug. 6, 2018

Revenue generated by South Korea’s restaurants and bars in the first half of this year dropped 2.6 percent on-year, marking the biggest decline in six years, according to recent data from Statistics Korea.Korea’s retail sales index for the service business sector that includes restaurants and bars for the January-June period stood at 95.9 points, down 2.6 percent from the previous year. This is the biggest decline for the period since the first half of 2012, when the index dropped 2.7 percent. T

Industry Aug. 5, 2018

Samsung Electronics on Thursday unveiled two new tablet PCs including the Galaxy Tab S4, its new flagship premium tablet that works as both an ordinary tablet and a desktop PC.　“With the Galaxy Tab S4, we’re introducing a premium tablet, equipped with Samsung DeX that helps consumers perform their absolute best wherever they go,” Koh Dong-jin, president and CEO of Samsung Electronics, said in a statement.It is the first Samsung tablet PC to support connection to Samsung DeX, a desktop extension

Technology Aug. 2, 2018

In the world of human resources, recruiting experienced hires has long operated in two ways: Companies blindly advertise new openings through third-party job listing sites, or pay high fees to headhunting firms to seek out viable candidates for a particular position.But one South Korean startup has set out to disrupt this paradigm by introducing a new mode of recruiting with a proven track record of success -- hiring through personal referrals. Wanted has built a recruitment platform that relies

Technology Aug. 1, 2018

Line Friends, the character merchandising unit of Japan-based mobile messenger Line, announced Tuesday that it has opened its first pop-up store in Hollywood, Los Angeles, attracting more than 15,000 visitors shortly after the opening.The store officially opened Friday, and will stay open for the next three months. It is the second Line Friends store to open in the US, after the flagship store in New York City, the company said.  (Line Friends)The LA-based pop-up store is located right across fr

Industry July 31, 2018

A number of South Korean biopharmaceutical companies are expecting a boost in their product exports to North America as they draw closer to securing regulatory approval to commercialize their new drugs in the US market this year.　Nearest to this goal is GC Pharma, a Korean biopharma company formerly known as Green Cross. The company expects the US Food and Drug Administration to approve its immunodeficiency treatment IVIG-SN, short for human normal immunoglobulin G for intravenous administration

Industry July 31, 2018

South Korea’s Fair Trade Commission is reportedly investigating local internet giant Naver on allegations that the company abused its status as the country’s most-used portal website to engage in unfair practices in the online video market.The FTC’s Anti-Monopoly Bureau on Thursday conducted an on-site investigation of Naver’s headquarters in Pangyo, Gyeonggi Province, to look into the allegations, according to local news reports.  (Yonhap)The recent investigation appears to be an extension of t

Technology July 27, 2018

When getting to know someone in South Korea, there is a good chance that at one point or another, you will be asked, “What’s your blood type?”　To outsiders, blood type may mean nothing more than information needed to find a match for a blood transfusion.　But in Korea, a person’s blood type -- either A, B, O, or AB -- is widely believed to be predictive of personality and temperament, similar to horoscopes in the West. 　Under the blood type personality theory, a person with Type A blood is dilige

Culture July 26, 2018

South Korean internet giant Naver said Thursday that its operating profit in the second quarter fell 12.1 percent on-year to 250.6 billion won ($224 million) due to a slowdown in the growth of its mobile and online business and increased investment in new technology innovation.Meanwhile, revenue in the April-June period reached 1.36 trillion won, up 20.7 percent from the same period in the previous year. Net profit also grew 83.1 percent on-year to 314 billion won, the company said.Despite the r

Technology July 26, 2018

South Korean contract drug manufacturer Samsung BioLogics said Wednesday that it has been licensed for the first time by the US Food and Drug Administration to manufacture a monoclonal antibody drug product in its fully-packaged format at its first plant.　The FDA approval signifies that the given drug product manufactured at Samsung BioLogics can now be sold in the US market.Biologics production comes in two main formats: drug substance and drug product. The former refers to the drug substance i

Industry July 25, 2018

South Korea has high potential to become a major part of the global biopharma business ecosystem with its openness for collaboration and swift clinical trial process, according to executives of major multinational pharma firms operating in Korea.　“High technology, good work ethics and talented people are making Korea a good breeding ground for collaboration,” Christophe Piganiol, president of Zuellig Pharma Korea, said during a roundtable discussion earlier this month co-organized by The Korea H

Industry July 24, 2018

The South Korean government on Tuesday kicked off a new joint initiative to speed up the development of next-generation medical devices powered by artificial intelligence and robotics, launched as part of the country's “bio economy” drive, the Science Ministry said.　As part of the initiative, the Ministry of Science and ICT, together with the Ministry of Trade Industry and Energy, the Ministry of Food and Drug Safety and the Ministry of Health and Welfare, will be allocating 42 billion won ($36.

Technology July 24, 2018

Samsung BioLogics, a contract drug manufacturer under South Korea’s Samsung Group, said Monday that its operating profit rose 137 percent on-year to 23.7 billion won ($20.95 million) in the second quarter on the back of increased production at its second plant. 　Revenue in the April-June period came in at 125.4 billion won, down 4.3 percent on-year, due to spending on preparatory procedures for a new production cycle at the first plant, the company said.In terms of net profit, Samsung BioLogics

Industry July 23, 2018

Samsung Electronics and South Korean labor advocacy group SHARPS have agreed to unconditionally accept a mediation body’s proposed compensation plan for those who contracted serious illnesses, including leukemia, while working at Samsung’s semiconductor and display production sites.Samsung Electronics said Sunday that the two sides have agreed to accept without objection an “arbitration plan” to be proposed by a state-appointed legal body, and effectively end an 11-year-old dispute over occupati

Technology July 22, 2018

Dailymotion, a global video hosting site under French media conglomerate Vivendi, announced its formal launch in South Korea on Thursday, pledging to cement its position here as a premium video-streaming site through selective curation backed by premium content from its global and local media content partners.“Over time, we’ve found that audiences are more interested in watching more high-quality videos, rather than user-generated content,” Dailymotion Chairman and CEO Maxime Saada said at a pre

Technology July 19, 2018