Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Posco Group tries to dispel NPS concerns over chair appointment
Posco Group announced Friday that the group would make public its chair appointment process, dispelling the National Pension Service’s concerns. The group also refuted suspected use of unfair methods to reappoint incumbent Chairman Choi Jeong-woo. “Regardless of the incumbent chairman’s decision (to seek a third term at Posco Group), our committee will review all candidates without bias for the sake of Posco’s future and its shareholders,” Seoul National University&
Industry Dec. 29, 2023
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[KH explains] Why vaccination rate remains low despite surge in flu patients
The number of suspected influenza cases in South Korea has surged to a five-year high, but the immunization rate has remained relatively unchanged. The rate of patients showing symptoms suggestive of influenza per 1,000 outpatients for the second week of December stood at 61.3 – the highest figure since 2019, according to the Korea Disease Control and Prevention Agency. The immunization rate as of Dec. 15, however, stood at 76.2 percent, slightly above 76.1 percent last year. “Despit
Industry Dec. 28, 2023
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LegoChem CEO expects $1.72b deal to give traction to ADC development
LegoChem Biosciences will leverage its $1.72 billion out-licensing deal with Janssen Pharmaceuticals for the development of its subsequent antibody-drug conjugate pipelines, the Korean biopharmaceutical firm's CEO said on Wednesday. On Tuesday, the Kosdaq-listed LegoChem signed a technology transfer agreement with Janssen Pharmaceuticals for the development and commercialization of antibody-drug conjugate candidate LCB84. The deal, potentially worth over $1.72 billion, is the largest licens
Industry Dec. 27, 2023
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Samsung Biologics CEO to attend JPMorgan conference
Samsung Biologics CEO John Rim is heading to San Francisco next month to share the company’s mid-term business plans during the JPMorgan Healthcare Conference, the company said Tuesday. The JPMorgan conference, one of the largest investment events for pharmaceutical and biotechnology industries that marks its 42nd year in 2024, will be held in the US city on Jan. 8-11. Some 600 companies and 8,000 industry officials and investors are expected to attend this year’s event. This year, S
Industry Dec. 26, 2023
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[Herald Interview] Zyx Technology aims to shatter AutoCAD dominance
South Korean design software developer Zyx Technology plans to enter overseas markets next year with its own computer-aided design (CAD) program as an affordable alternative for budget conscious, small-sized architectural firms. ZyxCAD is a homegrown CAD program developed by Zyx Technology. The design program was launched in August 2022 as an alternative to AutoCAD, an industry-leading software that has dominated the global market for the past few decades. "Many companies are shifting to ch
Industry Dec. 26, 2023
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Foreign workers in S. Korea reach all-time high of 1 million
The number of foreign nationals working in South Korea reached an all-time high of nearly 1 million in 2023, though most of them were working at smaller companies, according to government data, Monday. According to the data compiled by Statistics Korea, the number of people with foreign nationalities who have jobs here reached 923,000 as of May this year, jumping 10 percent on-year to hit a record high. By nationality, ethnic Koreans with Chinese nationality constituted the largest number at 35.
Industry Dec. 25, 2023
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How GC Biopharma has become only firm to export blood product plants
South Korea’s leading plasma protein and vaccine manufacturer GC Biopharma is the world’s only company that exports plasma fractionation plants to isolate and produce critical blood products. While global pharmaceutical giants operate their own plants to enter new markets, the Korean firm not only builds new facilities but also shares its operational know-how with countries that are heavily reliant on imports when it comes to plasma-derived blood products. In 2013, GC Biopharma sig
Industry Dec. 18, 2023
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Hugel wins award for $70m exports of cosmetic products
Hugel, South Korea's botulinum toxin products maker, has been recognized by the government for its recent accomplishments in exports, the company said Friday. According to Hugel, the company has been awarded by the Ministry of Trade, Industry and Energy and the Korea International Trade Association for reaching the $70 million export milestone between July of 2022 and June this year. The value of the company’s exports in the 12-month period was the highest among the companies based in
Industry Dec. 15, 2023
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Posco develops production system for battery-grade lithium
Posco Holdings announced Thursday that the group has developed a key system used to acquire lithium hydroxide together with local secondary battery company W-Scope Korea. Posco Holdings has been using a membrane electrodialysis process to produce battery-grade lithium hydroxide from lithium brine and ore. But the group was solely dependent on imports of components used in its membrane electrodialysis process. “The development of the membrane electrodialysis system used to acquire lithium h
Industry Dec. 14, 2023
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Celltrion's Avastin biosimilar listed on Ventegra's formulary
Celltrion Healthcare, Celltrion Group’s overseas sales unit, announced Tuesday that Vegzelma, Celltrion’s biosimilar referencing Roche's Avastin (bevacizumab), has been listed as a preferred drug on a formulary managed by Ventegra. “Through Ventegra's proprietary formulary program, which covers 13 million members in the US, Vegzelma will be able to increase its share in the US bevacizumab market,” an official from Celltrion Healthcare said. The latest signing be
Industry Dec. 12, 2023
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Daewoong, Zydus ink $92m deal to develop generic drug in US
Daewoong Pharmaceutical announced Monday that the company has signed an exclusive licensing agreement with Zydus Worldwide DMCC to co-develop leuprolide acetate for depot suspension, DWJ108U, a generic of AbbVie’s prostate cancer, endometriosis and uterine fibroids treatment, Lupron Depot. Based in the UAE, Zydus Worldwide DMCC is a wholly-owned subsidiary of Zydus Lifesciences, which was also formerly known as Cadila Healthcare Limited. “Together with Zydus, Daewoong Pharmaceutical
Industry Dec. 11, 2023
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Daewoo E&C chief visits Cambodia for new business opportunities
Daewoo Engineering & Construction said Monday that Chairman Jung Won-ju met with Say Sam Al, the Cambodian minister of land management, to discuss new business opportunities in the Southeast Asian country. Cambodia was the last destination of Jung’s overseas business trip that started last month. During his trip, Jung visited Nigeria, Malaysia, Singapore and Indonesia. “(Daewoo E&C) wants to take the lead in contributing to the betterment of Cambodian people through introduci
Industry Dec. 11, 2023
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Dried seaweed, ramyeon exports hit new highs
South Korea’s exports of dried seaweed and Korean instant noodles, called ramyeon, are expected to hit record highs this year, according to government data and industry sources, Sunday. According to data from the Ministry of Oceans and Fisheries, outbound shipments of dried seaweed reached $670 million between January and October, up 20.4 percent on-year. Dried seaweed exports continued to increase in November to reach $702 million as of Nov. 10, topping the previous record of $690 milli
Industry Dec. 10, 2023
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GC Biopharma breaks ground for Indonesia’s first blood products plant
GC Biopharma, GC Group’s biopharmaceutical unit, announced Wednesday that the company held a groundbreaking ceremony for its first Indonesian plasma fractionation plant within an industrial complex near the country's capital of Jakarta. The event comes six months after the company received approval from the Indonesian government to join the construction project, a trilateral partnership with the Indonesian Red Cross and P.T Triman, a local drugmaker. Under the partnership, GC Biopharm
Industry Dec. 6, 2023
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AmCham seminar explores health care as bigger part of Korea-US alliance
Health care officials from South Korea and the US on Monday gathered in Seoul to discuss the industry’s potential to be a bigger part of the Seoul-Washington alliance during a forum hosted by the American Chamber of Commerce in Korea. The Healthcare Innovation Seminar is one of the major events organized by AmCham, and the largest policy seminar on the health care industry in South Korea. This year's seminar is titled “The Role of the Healthcare Industry in Facing the Next Front
Industry Dec. 4, 2023
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