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The Korea Herald

Companies

June 22, 2020
SK Biopharm likely to join Kospi 200 in September: analysts

South Korean drug developer SK Biopharmaceuticals is likely to get an early admission to join the Kospi 200 -- a basket of top 200 blue-chip stocks of the nation’s benchmark index Kospi -- possibly only two months after its planned market debut in July, according to local analysts on June 22. If...
June 15, 2020
Asiana to expand capital with additional shares, bonds

Asiana Airlines held an extraordinary shareholders meeting on June 15, and voted to raise capital by increasing shares and issuing convertible bonds. The South Korean flag carrier put to a vote its decision to revise its articles of association, calling for an increase in the total number of issu...
June 09, 2020
SK Innovation’s EV battery material subsidiary seeks IPO

SK Innovation’s wholly owned subsidiary SK IE Technology, which makes separators for electric vehicle batteries, said on June 9 it will seek an initial public offering. Separator is one of the four key components of a lithium-ion battery, along with the cathode, anode and electrolyte. Accordin...
June 08, 2020
International experts denounce WHO for lacking innovation

A group of independent experts has criticized the World Health Organization for its stance on new technology in the tobacco and vaping industry, calling the organization backward-looking and saying it lacks innovation. The experts, who claim no conflicting links to the tobacco or vaping industry, ...
June 05, 2020
Air carriers struggle to launch China routes amid strengthened landing criteria

Korean air carriers that have been gradually starting to resume their international routes amid slower spread of COVID-19 are facing hurdles to operating China routes over authorities’ strengthened landing conditions, according to industry sources on Friday. According to full service carrier Ko...
June 04, 2020
EU resumes HHI-DSME merger review, likely by September

The European Commission has resumed the screening of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering after temporarily suspending the review amid the coronavirus pandemic, according to the commission on June 4. The EC said the “provisional deadline” of the scr...
June 04, 2020
NTS launches tax evasion probe into Starbucks Korea

The National Tax Service has launched a special probe into allegations of tax evasion by Starbucks Korea, according to local media outlets on June 4. The Seoul office of the NTS has conducted an irregular tax investigation into allegations the US coffee chain rigged prices of raw materials and pr...
June 03, 2020
Celltrion aims to commercialize insulin pen by 2025

Biologics drug developer Celltrion said Wednesday it will accelerate its insulin pen biosimilar development along with medical device manufacturer Poonglim Pharmatech. Celltrion will begin developing the insulin biosimilar this year with aims to commercially launch the product in 2025. Global i...
June 03, 2020
LG Chem batteries to power Vietnam’s first-ever EV

LG Chem said on June 3 it will power Vietnam’s first-ever electric vehicle, which can travel up to 500 kilometers on a single charge. According to LG Chem and local media, Vietnam’s first domestic carmaker VinFast will load its first EV models with lithium-ion batteries manufactured by LG Chem....
June 02, 2020
Hanwha Asset bets on e-commerce, data, health care stocks amid coronavirus

Seoul-based Hanwha Asset Management said on June 2 it is betting on new growth opportunities of companies dedicated to e-commerce, data infrastructure and health care by creating a fund investing in such stocks at home and abroad. The strategy comes amid consumer concerns about face-to-face conta...
May 28, 2020
‘Spider Man 3’ to feature Hyundai’s mobility tech

Hyundai Motor Group said on May 28 it has clinched a partnership deal with Sony Pictures Entertainment to allow customers experience its future mobility and new technologies via the latter’s platforms such as movies, animations and digital contents. According to the automaker, its latest mobilit...
May 22, 2020
Samsung Biologics bags CMO deals worth W468b

Samsung Biologics has bagged two contract manufacturing deals worth 468 billion won ($378 million) combined, according to its regulatory filing on May 22. The total value of the latest deals is equal to two-thirds of the company’s revenue for last year at 701 billion won. According to the biop...
May 21, 2020
Macrogen’s COVID-19 test kit approved for export

Macrogen, a genomics biotech company, announced Thursday that its AxenTM Covid-19 RT test kit has gained the Drug Ministry’s approval for export. “We are planning to supply our test kit to major countries, which contacted us even during the test kit development phase and were looking forward to...
May 20, 2020
SK Pharmteco joins consortium to supply pharma ingredients in US

SK Pharmteco, a consolidated global pharmaceuticals manufacturing chain of SK Group, will provide US-based Phlow with pharmaceutical ingredients to offset supply shortfall in the country, SK Holdings announced on May 20. The Donald Trump administration has announced it will buttress the project w...
May 19, 2020
DongKoo Bio&Pharma invests W3b in AI firm Vuno

DongKoo Bio&Pharma said on May 19 that it has expanded its field of business to artificial intelligence by investing 3 billion won ($2.4 million) in medical solution provider Vuno. The two firms signed a memorandum of understanding whereby DongKoo Bio&Pharma will leverage its 50-year know-how to c...

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