Articles by Kan Hyeong-woo
Kan Hyeong-woo
hwkan@heraldcorp.com-
Dunamu to build metaverse map to aid global relief initiative
Dunamu, the operator of one of South Korea’s largest crypto exchanges, has teamed up with the international humanitarian medical non-governmental organization Doctors Without Borders to build a map on its metaverse platform to help the global medical initiative, officials said Monday. Dunamu and Doctors Without Borders, also known as Medecins Sans Frontieres, signed a memorandum to build a partnership on contributions in accordance with the environmental, social and governance movement i
Technology July 25, 2022
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Matica Biotechnology aims to reach W1tr annual sales by 2030
Matica Biotechnology, local firm Cha Biotech’s US subsidiary, has set out a goal of posting 1 trillion won ($761 million) in annual sales to become a global top five contract development and manufacturing organization business in cell and gene therapy by 2030, the company said Thursday. “The global cell and gene therapy CDMO market is expected to reach 25 trillion won by 2030 with a compound annual growth rate of over 20 percent,” said Song Yun-jeong, CEO of Matica Biotechnol
Technology July 21, 2022
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SK Inc. to provide interim dividend for 5th consecutive year
SK Inc., the investment arm of SK Group, on Thursday, said it has decided to give interim dividends for the fifth year in a row, showing its continued commitment to its shareholders. According to SK Inc., the board of directors agreed to pay interim dividends of 1,500 won ($1) per share, the same amount as the last year. The total amount of the interim dividends payout is estimated at 85 billion won. The company said it has steadily increased the annual dividend payment amount from 208.7 bil
Market July 21, 2022
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Samsung foldable smartphones to hit 10 million in shipments
Ahead of the global unveiling event for Samsung Electronics’ newest mobile lineup, the Z Fold 4 and Z Flip 4, next month, the company’s mobile business chief said Thursday that its foldable series is having its moment with shipments of foldables nearing the 10 million mark. “Last year, we saw almost 10 million foldable smartphones shipped worldwide. That’s an industry increase of more than 300 percent from 2020, and I predict this fast-paced growth will continue,”
Technology July 21, 2022
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LG Chem exports 1st plant-based phenol, acetone to German firm
LG Chem is exporting its first bio-balanced phenol and acetone products to Germany, the company said Thursday. According to LG Chem, the exports that were made from biomaterials such as waste vegetable oil are eco-friendly products certified by the International Sustainability and Carbon Certification PLUS. The total amounts of exported phenol and acetone are 4,000 tons and 1,200 tons, respectively, to mark the largest single-export volume that have been certified by the ISCC PLUS. The produ
Industry July 21, 2022
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ICT minister calls for caution on joining Chip 4
Amid pressure building on South Korea to join a US-led chip alliance that strategically isolates China from the global semiconductor supply chain, Science Minister Lee Jong-ho on Wednesday said in rare remarks that the government should be careful in making such a decision, citing its impact on other industries. “I have talked to business executives who have been to China. It’s difficult to talk about the details, as it is an ongoing matter, but we have to make a decision that will
Technology July 20, 2022
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SK Bioscience upgrades vaccine deal with Novavax
SK Bioscience has renewed a contract manufacturing organization deal with US biotech Novavax to produce COVID-19 vaccines targeted at preventing the spread of highly contagious variants such as BA.5, officials said Tuesday. The two firms had signed a CMO deal to produce Novavax’s COVID-19 vaccine last year. According to the South Korean company, the renewal will allow the transfer of Novavax’s technology to SK Bioscience, which will then manufacture Novavax’s undiluted COVI
Technology July 19, 2022
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[Newsmaker] [Reporter’s Notebook] The dark side of Nuri rocket’s success
While the entire country was still relishing the launch of South Korea’s first domestically developed rocket last month, unionized workers and engineers at the Korea Aerospace Research Institute came out with a rather surprising statement. “The satisfaction and joy of the second launch are passing by as we despair in the unimproved reality,” a statement by the union read. Citing government data, the union pointed out that the annual salary of the national space agency&rsquo
Technology July 18, 2022
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HanAll's myasthenia gravis drug enters phase 3 trial
HanAll Biopharma’s antibody therapy candidate for myasthenia gravis -- HL161, also known as batoclimab, a subcutaneous anti-FcRn antibody designed to treat autoimmune diseases -- has entered phase 3 clinical trials in the United States, the South Korean biotech said Sunday. Myasthenia gravis, or MG, is a rare autoimmune disease that happens when the nerve impulses are not properly transmitted to the muscles, eventually leading to weakness in the skeletal muscles. According to a research
Technology July 17, 2022
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Over half of Korean exporters concerned by lack of ESG preparedness
Over half of Korean exporters believed that their contracts with customers could be scrapped due to the lack of preparedness for environment, social and governance management, a survey conducted by the Korea Chamber of Commerce and Industry showed Sunday. According to the KCCI’s survey, 52.5 percent of the 300 participating companies said they felt that there is a high chance for their contractors to back out from deals with inadequate ESG management levels in their supply chains. Aske
Industry July 17, 2022
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KT, CJ ENM join forces to set up Korea’s largest streaming platform
KT and CJ ENM have decided to merge their over-the-top video streaming platforms -- Seezn and Tving -- to create the largest Korean-made video streaming platform. The merger could accelerate the growth of Korean video content, officials said Thursday. The two companies each held board of directors meetings and decided that KT’s Seezn will be absorbed by CJ ENM’s Tving. KT Studio Genie, which holds a 100 percent stake in Seezn, will become the third-largest shareholder of the newly
Industry July 14, 2022
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LG Uplus launches simpler bundle service
LG Uplus has launched a new subscription platform service that offers more convenient access, cheaper bundle deals and a simpler cancellation process in order to maximize customized experiences for its users, the South Korean mobile carrier said Thursday. The new subscription service‘s name, Udok, is a combination of Uplus and the latter part of the Korean word “gudok” meaning subscription. “Udok has three differentiating factors. First, it does not require contr
Technology July 14, 2022
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'Pace yourselves,' Huh tells students
Korean American mathematician June Huh -- winner of the 2022 Fields Medal, the highest award in mathematics -- encouraged young students to stay patient with themselves when trying to figure out what they like. “If you are trying to like something but it’s hard to do so, I think you should support and wait for yourself. If you push yourself too hard, it’s difficult to purely like something. You should know when it’s time to relax, and I think that is how you can have goo
Technology July 13, 2022
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SK Telecom’s ifland to circulate in-metaverse cash
SK Telecom will distribute and circulate in-metaverse cash on its virtual platform ifland to encourage more participation from users starting in the third quarter, the South Korean mobile carrier said Wednesday. Calling it an introduction of internal economic system, ifland users will be given points that can used as cash in the platform, if they take part in continuous activities such as building up attendance and carrying out missions. With such points, users will be able to sponsor others w
Technology July 13, 2022
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Only 2 Korean firms listed in top 100 ICT companies worldwide: FKI
South Korea has only two companies on the list of the world’s top 100 information and communications technology firms, despite the country’s self-claimed label as an ICT powerhouse, the Federation of Korean Industries said Tuesday. The KFI used the database from company tracker S&P Capital IQ to rank the global top 100 ICT companies by market capitalization. According to the FKI’s analysis, South Korea’s Samsung Electronics ranked ninth and SK hynix came in at 56th.
Industry July 12, 2022
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