Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Samsung chief bolsters ties with Japanese partners
Samsung Electronics Executive Chairman Lee Jae-yong met with a group of top executives from Japanese electronic parts vendors for their annual meeting in Seoul, which had been suspended due to the COVID-19 pandemic, according to industry sources, Sunday. The annual meeting between Samsung and its Japanese electronic parts makers is known as “Lee Kun-hee and his Japanese Friends,” or LJF for short. The meeting was established in 1993 by the executive chairman's father, the late S
Industry Oct. 22, 2023
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Paris Baguette’s 500th overseas store opens in Singapore
South Korean bakery giant SPC Group announced Sunday that the number of its overseas Paris Baguette stores has reached 500, with the latest opening in Singapore. The 500th store opened at Terminal 2 of Changi International Airport as part of the bakery chain’s expansion into Asia and the Middle East. “The group will continue its expansion in the US and China, while making a foray into the global halal food market, which has 1.9 billion potential customers representing some 24 percent
Industry Oct. 22, 2023
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Samsung Bioepis launches Soliris biosimilar in Europe
Samsung Bioepis, a biosimilar developer under Samsung Group, said Thursday that the company has completed the launches of its hematology biosimilar Epysqli, a biosimilar close to Soliris, in three European countries, hoping to gain ground in the rare blood disease biosimilar market. According to Samsung Bioepis, the company introduced Epysqli in Germany in July, and the biosimilar made its debut in Italy and Spain last month. Samsung Bioepis is also preparing for Epysqli’s launch in France
Industry Oct. 19, 2023
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Cha Medical to hold global forum on next-generation medicines
Cha Medical and Bio Group said Wednesday that the group will hold the Global Forum on Future Medicine 2023 at Cha Bio Complex in Seongnam, Gyeonggi Province, on Oct. 27. The forum will invite experts in stem cell research, regenerative medicine and cell and gene therapies, as well as officials from the government's regulatory agency. “The forum will provide opportunities for us to share the latest trends and new findings in the stem cell and GCT research areas,” said Yoon Ho-sup
Industry Oct. 19, 2023
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Samsung Biologics expansion ahead of schedule
In a wide open space just a few minutes away from Samsung Biologics’ first Bio Campus in Songdo, Incheon, the company’s Plant 5 is under construction. Prefabricated concrete-based frames implemented in a neatly controlled construction environment provide a glimpse into the company's new facility, which would further consolidate the firm’s leadership as the world’s largest contract development and manufacturing organization, or CDMO. On Tuesday, Samsung Biologics, the
Industry Oct. 18, 2023
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[Herald Interview] New Royal Salute whisky debuts in Korea to tap growing premium market
Pernod Ricard’s Royal Salute 21-Year-Old Richard Quinn Edition 2 has recently made its world debut in South Korea, where young drinkers are increasingly turning their eyes to high-end whiskeys. The second collaboration with UK fashion designer Richard Quinn "features a deeper and more flavorful blend, and the design is bolder and more colorful," said Pernod Ricard Korea CEO Frantz Hotton in a recent interview with The Korea Herald. “The reason why Korea was selected as the
Industry Oct. 18, 2023
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Celltrion partners with US pharmacy chain for Yuflyma sales
Celltrion Healthcare, Celltrion's distribution unit, said Monday it has signed a deal with US specialty pharmacy chain CarePartners Pharmacy to sell its Humira biosimilar Yuflyma in the US market. CarePartners Pharmacy is a national pharmacy that distributes medications across all 50 states and Washington DC, focusing on several niche programs, including autoimmune therapies. Under the contract, Yuflyma will be distributed to drug stores operated by CarePartners Pharmacy nationwide, startin
Industry Oct. 16, 2023
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S. Korea may decide to increase medical student quota as early as next week
The South Korean government may announce its plan to increase the medical school enrollment quota as early as next week, according to local reports Friday. The government is reportedly reviewing a plan to increase the medical school enrollment quota by 500, from the current quota of 3,058, which has remained unchanged since 2006. If expanded, the new quota will be applied starting in 2025. Minister of Health and Welfare Cho Kyu-hong also said, “We are preparing to reflect it in the 2025 co
Industry Oct. 13, 2023
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KT & G to build new tobacco plant in Kazakhstan
KT&G, South Korea's largest tobacco company, said Thursday that the company has started construction of its fourth overseas manufacturing plant in Kazakhstan. The new plant will be built on a 200,000-square-meter site and is scheduled to be completed by 2025. The company did not disclose how much it would invest in the construction of the Kazakhstan plant. “We expect the new Kazakhstan factory to serve as a core global production hub that encompasses the Eurasian market," said KT
Industry Oct. 12, 2023
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Posco Holdings recoups investment in Roy Hill after 13 years
Posco Holdings said on Tuesday the company has received 85 billion won ($62 million) in dividends from the third quarter earnings of Roy Hill Holdings, recouping the investment it has made into the holding company of Australian iron ore miner Roy Hill. With the latest dividend payment, Posco Holdings has received a total of 1.3 trillion won in total in the form of dividends and discounts on iron ore that the company imported from Australia, retrieving 1.3 trillion won of investment it made to ac
Industry Oct. 10, 2023
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Asiana may ditch cargo business to close Korean Air merger deal
Asiana Airlines is expected to discuss selling its cargo business as part of Korean Air’s new merger plan, which is facing antitrust concerns in Europe, according to industry sources, Sunday. Sources said the agenda is highly likely to be discussed at a board meeting at the end of the month. Asiana Airlines' potential disposal of its cargo business comes as Korean Air plans to submit an amended merger plan with the smaller rival to the European Commission later this month. The Europ
Industry Oct. 8, 2023
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Lotte Biologics doubles down on global contract drugmaker ambitions
Lotte Biologics is gearing up for the construction of three drug manufacturing plants with its recent land purchase in Songdo, Incheon, taking its first step on its decadelong journey to become a global contract development and manufacturing organization. Lotte Biologics said the company signed a land purchase agreement with the Incheon Free Economic Zone Authority on Wednesday afternoon. Under the agreement, Lotte Biologics will build three biomanufacturing facilities. Each plant is going to ha
Industry Oct. 5, 2023
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Celltrion's Humira biosimilar receives FDA approval for new doses
Celltrion announced Wednesday that the company received approval from the US Food and Drug Administration for two more dose versions of its Humira biosimilar Yuflyma, for 20 and 80 milligrams. Yuflyma is a copycat version of AbbVie’s blockbuster drug Humira, used to treat many inflammatory conditions in adults such as rheumatoid arthritis and psoriatic arthritis. With the FDA’s latest approval, Celltrion is now able to sell three different dose versions of Yuflyma in the US. The 40 m
Industry Oct. 4, 2023
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Samsung Biologics raises annual estimated earnings to W3.6t
Samsung Biologics has raised the full-year earnings estimate in its company guidance again to 3.6 trillion won ($2.6 billion) for this year, up some 20 percent from last year, according to its regulatory filing released on Wednesday. It was the second time this year for Samsung Biologics to increase the estimate of its annual earnings. Earlier in April, the company raised its estimated earnings from sales to 3.52 trillion won. “(Samsung Biologics) has readjusted (the estimated earnings in
Industry Oct. 4, 2023
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House ownership widens wealth gap between young and old
The wealth gap between younger and older adults has widened over the last few years, largely depending on whether they own houses or not, according to the country’s statistics agency, Wednesday. According to the Statistics Korea’s report, the wealth gap between adults aged 40 and above and adults younger than 40 has widened by 45 percent over the last three years, from 160 million won ($118,000) in 2019 to 230 million won in 2022. Kim Mee-roo, a researcher at the Korea Development In
Industry Sept. 27, 2023
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