South Korean biopharma developer Celltrion is drawing closer to its stated plans to debut its Remicade biosimilar in the US by October, as a major patent suit is showing signs of coming to an end.　The US District Court for the District of Massachusetts on Tuesday commenced its hearing over the validity of Janssen Biotech’s US-based formulation patent on Remicade, the firm’s top-selling rheumatoid arthritis treatment. The hearing is set to continue until Thursday.　The trial over Janssen's US-base

Industry Aug. 17, 2016

KT and Samsung SDS introduce a specialized home monitoring service that uses Internet of Things technology in South Korea on Wednesday. The GiGA IoT Home Premium Pack connects a wall pad installed inside a home to a smartphone, allowing users to monitor the status of their homes. (KT)

Technology Aug. 17, 2016

Despite the return of the CJ Group chairman through a presidential pardon last week, the South Korean food and entertainment conglomerate appears to be facing multiple issues before it can gear up for global expansion.　CJ's ailing chief Lee Jay-hyun was freed of his 2 1/2 year jail term through a surprising presidential pardon last week, making way for his return to management.　The chairman's return is likely to lend a major boost to CJ’s stalled push for strategic mergers and acquisitions and b

Industry Aug. 16, 2016

KAKAO COSMETICS ENTER CHINA -- South Korean cosmetics brand The Face Shop introduced its all-popular Kakao Friends edition cosmetics products in China for the first time during a ceremony attended by local celebrities and media in Beijing on Aug. 12. The collaborative cosmetics, first launched in Korea in March this year, are now sold in Singapore, Vietnam, the United States and China, according to The Face Shop. (LG Household & Health Care)

Industry Aug. 16, 2016

The South Korean prosecution once again summoned for questioning the chief of German automaker Volkswagen’s local operations on Friday, continuing its investigation of alleged irregularities committed by the automaker in the country.Johannes Thammer, the chief executive of Audi Volkswagen Korea, appeared at the Seoul Central District Prosecutors’ Office the day before to address allegations that the firm fabricated emission test results for vehicles sold in Korea.Johannes Thammer, CEO of Audi Vo

Mobility Aug. 12, 2016

Korea Communications Commission, the state telecom and media regulator, on Thursday handed Lotte Homeshopping a fine of 200 million won ($182,000) for mishandling customers’ personal data.　Lotte Homeshopping is a television shopping channel under South Korean retail giant Lotte Group, which is currently under heavy investigation on charges of embezzlement and bribery.Woori Homeshopping Co., the operator of the Lotte-based TV channel, was found to have sold the personal data of some 29,000 custom

Technology Aug. 12, 2016

South Korea is looking to make its mark in biotechnology as it eyes leadership in new industries geared for sharp growth in the years ahead.Biotechnology refers to technology that harnesses the science of genetics and molecular biology to develop new medical treatments and services. In the coming era of aging populations, the global biotech market is set for significant growth.The Ministry of Strategy and Finance forecasts the global biotechnology market will reach $2.61 trillion by 2024, surpas

Technology Aug. 11, 2016

South Korea’s leading mobile game developer Netmarble Games on Thursday announced that it will launch “Lineage II: Revolution” for mobile devices in Korea in October.Netmarble’s upcoming mobile game -- categorized as a “massively multiplayer online role playing game,” or MMORPG -- is based on NCSoft’s original online role-playing game “Lineage II.”“Lineage II: Revolution” has sought to optimize the original online game to fit mobile devices while offering the same high-quality graphics, characte

Technology Aug. 11, 2016

Kakao, the operator of South Korea’s top mobile messenger KakaoTalk, on Thursday said its operating profit in the second quarter rose 132.8 percent on-year to 26.6 billion won ($24.25 million).　　The company’s revenue during the April-June period jumped 66.2 percent on-year to 376.5 billion won, led by the strong performance of its content business division which includes music, games and webtoons, it said.　Kakao’s content division received a major boost from its new subsidiary Loen Entertainment

Technology Aug. 11, 2016

South Korean online beauty retailer Memebox on Wednesday said it secured some $66 million in new funding from global venture capital funds Formation 8, Goodwater Capital and Pejman Mar Ventures.　The latest round of funding drives up the total investment raised by Memebox to about $100 million, the biggest ever for a Korean beauty start-up, the company said. It plans to use the new capital to finance its service upgrades and global expansion.A person opens the Memebox mobile app on a smartphone (

Technology Aug. 10, 2016

South Korean Internet giant Naver on Tuesday launched a new automated translation app for four languages -- Korean, Japanese, Chinese and English.The app, Papago, can translate text, speech and images of words or phrases into the target language using Naver’s translation database and self-developed artificial intelligence software, the company said.When deciphering words with multiple possible meanings, Papago shows contextual images to prevent mistranslation. When translating currencies, it aut

Technology Aug. 9, 2016

The U.S. Food and Drug Administration has accepted for review a new Lantus biosimilar developed by U.S.-based Merck Sharp & Dohme with partial funding from Samsung Bioepis, MSD said last Friday.MSD’s biosimilar drug MK-1293 references Lantus, an insulin-based diabetes treatment originally developed by Sanofi. Samsung Bioepis has contributed to MK-1293’s development as an investment partner to MSD.A Samsung Bioepis employee (Samsung Bioepis)MK-1293 is already undergoing a marketing authorization

Industry Aug. 9, 2016

Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday.The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under this timeline, Samsung BioLogics will likely complete its public listing by November as scheduled. Samsung BioLogics declined to comment on the potenti

Technology Aug. 8, 2016

AmorePacific entered South Korea’s up-and-coming customizable cosmetics market on Monday by introducing its first customizable product at its Laneige outlet in Myeong-dong, central Seoul.Those who visit the Laneige store can create personalized Two-tone Lip Bar lipstick on the spot by selecting two colors they want to mix to match their skin tone. Fourteen colors are available for the inner lip and 13 colors are available for the outer lip, AmorePacific said. The view inside the Laneige store in

Industry Aug. 8, 2016

LG Household & Health Care officially stepped into South Korea’s soaring market for pet grooming and care products on Sunday with the launch of its new pet care brand “O’s Sirius.”The brand offers diverse pet care goods such as pet shampoo, conditioner, body mist and deodorizers — sold under two product lines Alpha and Beta which respectively target long-haired and short-haired dog breeds.A dog taking a bath (123RF)Alll of O’s Sirius products exclude potential irritants such as sulfate, artifici

Industry Aug. 7, 2016