Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Samsung Biologics stands tall among pharma giants
South Korean biopharmaceutical company Samsung Biologics said Wednesday that the company achieved a stellar performance last year to stand shoulder to shoulder with top global pharmaceutical companies, buoyed by an array of large contract manufacturing deals. The company has been ranked in 37th place in market research company GlobalData’s list of the world's top 50 pharmaceutical companies in 2022, up 13 spots from 2021. According to the rankings, which listed companies based on thei
Industry Sept. 19, 2023
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Samsung Biologics signs $242m deal with BMS
Samsung Biologics said Monday that the company signed a $242 million contract manufacturing deal with Bristol-Myers Squibb subsidiary Swords Laboratories to produce immunotherapy treatments until 2030. Under the latest contract, Samsung Biologics will produce the flagship immunotherapies of BMS at the company’s fourth plant over the next seven years. BMS, the world's seventh-largest biopharmaceutical company as of 2022 in terms of its sales, has been a client of Samsung Biologics sinc
Industry Sept. 18, 2023
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McDonald's Korea introduces kiosks for visually impaired customers
McDonald's Korea said Friday that the company has upgraded its self-service kiosks for visually impaired customers at 15 stores located in Seoul. The company said the new kiosks come with new keypads and headphone jacks, through which visually impaired users can connect their headphones and browse the menu. The 15 stores have been selected based on their proximity to welfare institutions, education institutes and job centers for visually impaired people. McDonald's Korea noted that t
Consumer Sept. 15, 2023
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Musinsa kicks off preview show for 2024 spring-summer collection
Musinsa, the largest online fashion platform in South Korea, has kicked off a preview event that showcases local fashion brands' collections for spring-summer 2024, the company said Friday. Under the title of “24ss Musinsa Season Preview,” the company will showcase over 200 products designed by 30 local brands at Musinsa Terrace Seongsu and Musinsa’s three separate offline studios in the Seongsu-dong neighborhood in eastern Seoul. Musinsa's latest event has been organ
Consumer Sept. 15, 2023
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Posco teams up with CF Industries to produce blue ammonia in US
Posco Holdings said Thursday that the company has agreed to cooperate with CF Industries, the world's largest ammonia producer, to co-produce blue ammonia in the US. CF Industries operates ammonia manufacturing plants across the US and Canada, with an annual manufacturing capacity of around 9 million metric tons. Under the agreement signed in Seoul earlier in the day, Posco Holdings and CF Industries will work together on a blue ammonia project in Louisiana. The two companies will build a n
Industry Sept. 14, 2023
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SPC’s Paris Baguette secures bigger footing in North America
South Korean bakery giant SPC Group said Wednesday that it is opening nine new Paris Baguette stores in North America this month, seeking a bigger footing in one of the key strategic markets. With the planned nine new openings, SPC will be operating a total of 150 stores in the region. In Canada, SPC will open a Paris Baguette store at the Southpark on Whyte, a residential complex located in Alberta on Friday, while another outlet is set to open in Newmarket, Ontario, next week. In the US, seven
Consumer Sept. 13, 2023
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Kolmar Korea wins trade secret case against Intercos
Kolmar Korea announced Monday that the company has won a lawsuit against Italian cosmetics manufacturer Intercos’ local office here, which allegedly transferred trade secrets about sun care product technology. According to Kolmar Korea, the Seoul Central District Court has ruled in favor of Kolmar Korea in a civil case, in which Kolmar Korea accused Intercos Korea and its two former employees of stealing confidential technologies related to Kolmar’s sun care products. The court has o
Industry Sept. 11, 2023
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Construction orders hit $22b overseas
South Korean construction companies have secured new orders worth $21.9 billion in overseas markets between January and August, according to the International Contractors Association of Korea, Sunday. The association said the total value of construction orders made overseas during the eight-month period was up by 19.9 percent on-year. It is also the first time that the value has surpassed $20 billion since 2018, when overseas construction orders in the January-August period were worth a combined
Industry Sept. 10, 2023
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[KH Explains] Rates of ‘disease of kings’ gout doubling in Korea
Gout has long been thought of as a “disease of kings” due to its apparent link to a diet rich in meat and alcohol consumption. With rapid economic growth and dietary changes, the number of such patients has almost doubled in South Korea over the past decade. More recently, the incidence has been rising in people in their 20s and 30s. According to the National Health Insurance Service, more than half a million Koreans (508,397) suffered the disease in 2022, compared to 265,065 patient
Industry Sept. 2, 2023
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L’Oreal Korea, marking 30th anniversary, bets big on K-beauty
L’Oreal Korea, making its 30th anniversary this year, said Friday it would boost collaboration with South Korean partners to ride the K-beauty boom around the world. “Korea has a very strategic and strong role to play within the ecosystem of the North Asia Beauty Triangle,” Fabrice Megarbane, president of the company’s North Asia Zone and CEO of L’Oreal China, during a press conference at the Korean unit’s headquarters in southern Seoul. The North Asia Beauty
Consumer Sept. 1, 2023
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Posco America relocates headquarters to Washington
Posco America, a subsidiary of Poscho Holdings, will relocate its headquarters from Atlanta to the nation's capital, in a move to strengthen its relations with the federal government and US Congress, the group said Wednesday. Posco America’s head Do Han-eui and other staff members will start to work at the new office in Washington from as early as this week. The group will also dispatch employees specializing in trade affairs from South Korea's office. The company’s new off
Industry Aug. 30, 2023
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GS E&C to look abroad as business suspension looms
South Korean builder GS Engineering & Construction, facing an unprecedented business suspension for up to 10 months over the recent collapse of an underground parking lot it built, seems to have no other way but to go abroad to seek new business opportunities for the time being, industry sources said Monday. According to an official from the Ministry of Land, Infrastructure and Transport, the government will push to suspend the company’s operations for eight months under the land minister&
Industry Aug. 28, 2023
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[KH Explains] Mango bingsu prices continue to go up but why?
High-end Korean hotels have continued to raise prices this year of mango bingsu, a Korean shaved ice dessert popular in the summer, despite mango prices having stabilized. This year, Four Seasons Hotel Seoul sold its mango bingsu at 126,000 won ($94), 31.3 percent higher than last year. Shilla Seoul also raised the price of its progenitor luxury mango bingsu by 18.1 percent to 98,000 won, while Lotte Hotel increased the price by 4.5 percent to 92,000 won. The price rally drew particular attentio
Industry Aug. 23, 2023
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CJ CheilJedang launches new global campaign for Bibigo brand
South Korean food giant CJ CheilJedang said Wednesday it launched a new global marketing campaign for its Bibigo brand, dubbed “Live Delicious.” The campaign clip, featuring a TikTok-friendly dance and music, was distributed in Korea, the US, Europe, Japan, China, and Thailand via YouTube. “If the company’s past campaign for Bibigo aimed to build connections with customers by focusing on the integrity of our food products, the latest campaign focuses more on appealing to
Consumer Aug. 23, 2023
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Korea’s fisheries worried about consumer fears
South Korea’s fisheries industry on Tuesday raised concerns over the business impact of Japan’s planned release of radioactive water from the crippled Fukushima nuclear plant into the ocean later this week. “Concerns are mounting among merchants here as the latest announcement will lead directly to decreases in the number of visitors to fish markets, as well as in the overall consumption of fish and seafood,” an official from the National Federation of Fisheries Cooperati
Consumer Aug. 22, 2023
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