Articles by Park Han-na
Park Han-na
hnpark@heraldcorp.com-
[Bio USA] Samsung Biologics hints at sales push for new plant
BOSTON -- Samsung Biologics' US sales chief said Tuesday that the South Korean drug contract manufacturing giant will bolster its global reach to secure more large-volume orders, tapping Alzheimer’s drugs one of the key focus areas. On the sidelines of the 2030 BIO International Convention held in Boston this week, Kevin Sharp, sales head of Samsung Biologics America, met with reporters to introduce the company’s overall sales strategy for its upcoming fifth plant that will go
Industry June 7, 2023
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[Bio USA] Lotte's CDMO ambition gets full support from US plant
BOSTON – Lotte Biologics’ drug substance manufacturing site in the US will put the utmost effort into making the Korean firm's goal of becoming a global top 10 contract development and manufacturing organization firm by 2030 attainable, the company’s US general manager said. Lotte Biologics, founded in 2022, acquired a fully operational facility in East Syracuse, New York from 165-year-old US pharmaceutical firm Bristol Myers Squibb last year as a part of its market entry
Industry June 7, 2023
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[Bio USA] Samsung Biologics seeks giant leap with new plant, ADC tech
BOSTON, Massachusetts -- South Korean biologics contract manufacturer Samsung Biologics will make another huge step forward by shortening the construction time for its new manufacturing facility with an annual production capacity of 180,000 liters by five months to meet the growing demand from its clients in the pharmaceutical industry, the firm’s CEO, John Rim, said Monday. The Korean firm has now secured as clients 13 of the top 20 global pharmaceutical companies, including GlaxoSmit
Industry June 6, 2023
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[Herald 70th] 'Korea-US-Japan joint efforts on trade, strategic tech crucial'
Forging robust security and economic alliances with the United States and Japan is crucial for South Korea to embrace a reshaped global geopolitical paradigm, said Jun Kwang-woo, chairman of the Institute for Global Economics. “The trilateral allies must bolster their economic cooperation and pursue shared strategic priorities,” to deal with “the looming global geo-economic challenges, accompanied by supply chain disruptions and an energy crisis, result from the post-pandemic
Economy May 25, 2023
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Closer ties with US, Japan key to geo-economic challenges
South Korea needs to strengthen its trilateral alliance with the United States and Japan in trade and investment to overcome global geo-economic challenges and supply chain disruptions triggered by COVID-19, said Jun Kwang-woo, chairman of the Institute for Global Economics. The COVID-19 pandemic and the war in Ukraine have increasingly polarized the world economy, which centers around the US and China. This caused a shift in the global economic paradigm, leading to closer links between nati
Economy May 16, 2023
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HMM joins takeover bid to buy Hyundai LNG Shipping
HMM, South Korea’s largest LNG shipping firm, will join a bid to acquire a 100 percent stake in Hyundai LNG Shipping after selling the LNG carrier operator to a local private equity firm nearly 10 years prior. According to industry sources on Friday, HMM delivered its intent to participate in the takeover bid to IMM Private Equity and IMM Investment, which together own a 100 percent stake in Hyundai LNG Shipping. Hyundai LNG Shipping is the largest LNG carrier operator in the country, op
Industry May 12, 2023
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Hyundai Motor pledges W2tr to boost EV production at home
Hyundai Motor Group will spend some 2 trillion won ($1.59 billion) to build a plant dedicated to manufacturing electric vehicles in the southeastern coastal city of Ulsan, in a move to strengthen its footing as a "first mover" in the EV sector, it said on Tuesday. The new plant, located on a 230,000-square-meter site, will be Hyundai Motor’s new car plant set up at home in 29 years. With construction starting in the fourth quarter of this year, the plant is expected to become ope
Industry May 9, 2023
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Prioritizing customer-centric digital finance innovation
Morphing into a customer-centered financial platform company through open digital innovation, fostering digital talent and strengthening technological capabilities is one of the key strategies Hana Financial Group pushes forward. Based on big data, the banking group is developing products and services tailored to customer groups while converting offline branches into financial platforms where customers can satisfy their needs through human touch. The digital channel plays the role of an all-in-o
Market May 2, 2023
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Korea, US ink 23 MOUs to rachet up tech alliance
Business leaders from South Korea and the United States signed dozens of non-binding deals and discuss ways to enhance cooperation in semiconductors, future vehicles and clean energy on Tuesday. During President Yoon Suk Yeol's state visit to the US marking the 70th anniversary of the US-South Korean alliance, two events hosted by the Federation of Korean Industries – the Korea-US Business Roundtable and the Korea-US Business Forum were held at the US Chamber of Commerce in Washingt
Industry April 26, 2023
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Korea reinstates Japan on fast-track trade 'white list'
South Korea reinstated Japan to its “white list” of trusted trading partners in more than three years in a push to revive economic cooperation between the two countries, the Ministry of Trade, Industry and Energy said Monday. The ministry released a notification on Japan’s restored status in an amendment of the export and import notification of strategic materials. With the change, Japan will be included the list of 28 other countries who are granted simplified procedures for
Economy April 24, 2023
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[KH Explains] Why does KB Bank hold on to money-losing budget phone service business?
KB Kookmin Bank recently gained a green light from the country’s financial regulator to continue its mobile telecommunications business after its four-year experiment as a regulatory sandbox program. It is the first lender in the country that has ventured into the mobile telecommunications market, dominated by three major telecommunications carriers. But a question remains: Why would the bank want to continue a business which has been in the red for years and has little relevance to its ma
Market April 23, 2023
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Financial firms in rush to enter W1000tr OCIO market
South Korea’s securities and asset management firms are racing to capture a bigger piece of the Outsourced Chief Investment Officer market as they expect that more firms and institutional funds will entrust the management of their cash reserves to them. “Institutional investors and private companies used to manage their own investment through an in-house finance team, but once they see an increased amount of cash hoarding, they tend to outsource because it requires complex and prof
Market April 13, 2023
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IBK chief vows to double overseas profits by 2025
State-run Industrial Bank of Korea aims to double its overseas profits in the next three years by establishing entities in Vietnam and Poland, its president said Tuesday. “We will expand our (global) network ... such as converting the Vietnam branch into an entity and setting up a new entity in Poland to support small- and mid-sized firms entering overseas markets,” IBK President and CEO Kim Sung-tae said during a press conference held to mark his first 100 days in office. By 2025,
Market April 11, 2023
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Fitch upgrades outlook on Hyundai Card to positive, affirms at BBB
Hyundai Card said on Friday that global rating agency Fitch revised its outlook on the Hyundai Motor Group's credit card unit to positive from stable while retaining its credit rating at BBB. It is the card company's first revision from the ratings firm in 11 years, as its rating and outlook had stayed at BBB stable since July 2012. In a rating action commentary released on March 30, Fitch attributed the rating upgrade mainly to Hyundai Motor Group -- the parent company of Hyundai
Companies April 7, 2023
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Kakao raided over suspicious SM stock purchase
Financial authorities and prosecutors jointly raided tech giant Kakao Corp. on the suspicion that it participated in stock price manipulation during its takeover of K-pop agency SM Entertainment. The Financial Services Commission on Thursday sent a team of 40 investigators to Kakao and its affiliate Kakao Entertainment in Pangyo, Gyeonggi Province to seize internal documents and other related data. Authorities are looking into the possibility that Kakao violated the Capital Markets Act when
Companies April 7, 2023
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