LG Life Sciences and Sanofi-Aventis Korea, the local affiliate of France-based global health care company Sanofi, are mired in a dispute over a contract to copromote LG’s top-selling diabetes drugs in South Korea.　The two parties are at odds over Sanofi’s fulfillment of their contract. The case could be taken to the courts if the two sides fail to reach an agreement, according to industry watchers.　The dispute began when the biopharmaceutical unit of LG Group notified Sanofi last month that it w

DFS Group, the world’s leading duty-free operator, based in Hong Kong, is geared to enter South Korea this year by potentially becoming a supplier to a new duty-free store operated by the Jeju Tourism Organization.　　The JTO, scheduled to open a new duty-free shop in Seogwipo, Jejudo Island on Feb. 12, is “examining the option to source in various foreign brands through DFS, which initially made this offer to the JTO,” a JTO official was quoted as saying in the Korea Economic Daily on Tuesday.　Si

Samsung Bioepis, an affiliate of Samsung Group specializing in developing biosimilars, or cheaper, generic copies of biologic drugs, has been sued by U.S.-based pharmaceutical giant Amgen for patent infringement in Canada.Amgen Canada filed for a prohibition order on July 31, 2015, claiming Brenzys, Samsung Bioepis’ biosimilar copy of Amgen’s blockbuster rheumatoid arthritis treatment Enbrel (Etanercept), breached two patents held by Amgen, according to Canadian court documents and Samsung Bioep

South Korea’s leading steelmaker POSCO said Sunday it is showcasing its automotive steel plate technology for the first time at this year’s North American International Auto Show taking place in Detroit, Michigan, from Jan. 11-24.Aiming to appeal to global automakers, POSCO is presenting its self-developed advanced automotive steel technology and some 30 types of futuristic car components to be used in next-generation cars at the annual U.S.-based auto show.The steelmaker will be promoting its s

Eyeing new partnerships and foreign investments, South Korea’s leading pharmaceutical companies are participating in the 34th JP Morgan Healthcare Conference which kicks off Monday in San Francisco.　The annual U.S.-based event, set to continue until Thursday, is one of the largest and oldest health care symposiums in the world.　Each year, more than 300 companies have flocked to the conference hosted by the investment bank, on the lookout for biotech and pharma companies primed for major breakthr

Financial technology start-up Quarterback Investments said Sunday that it has rolled out a robo-adviser solution for trust goods, dubbed the Quarterback R-1, jointly with KB Kookmin Bank, Korea’s largest retail bank by asset value.　Utilizing data from exchange-traded funds and exchange-traded notes in the domestic and global markets, the Quarterback R-1 enables investors to diversify their investment portfolio for stable returns, according to the Korean start-up, an affiliate of fintech firm all

SK Innovation vice chairman Chung Chul-khil set forth “structural reform” as the company’s key business goal for 2016 during a high-level gathering of the company and its five affiliates in Seoul on Thursday.　“To actualize our goal to reach a market valuation of more than 30 trillion won ($25.3 billion) and become a global leader in the energy and chemicals sector, SK Innovation cannot settle for an operational profit of 1 to 2 trillion won,” Chung said.　“We must develop into a company able to p

Beer has emerged as South Korea’s most popular liquor by sales, preference and market share, edging out soju, long considered a “national drink,” as consumer tastes lean toward low-alcoholic drinks.　Korea’s total beer shipment surged 5.1 percent from 1.96 million kiloliters in 2009 to reach some 2.06 million kiloliters in 2013, according to a 2015 report recently released by the Ministry of Agriculture, Food and Rural Affairs.　During the same period, shipments of soju — around three to four time

Sanofi-Aventis Korea, the local affiliate of France-based global health care company Sanofi, said Thursday it has sealed a partnership with two leading Korean universities to jointly research and develop a new range of immune cell therapies.　Sanofi is joining hands with Korea’s leading science research universities KAIST and Seoul National University to develop an “immune cell therapy platform” to produce high-performance immune cell therapies to treat cancer.(Sanofi-Aventis Korea)　The global ph

Tired of being locked in years-long contracts for premium smartphones and paying expensive monthly installments, more consumers are opting for entry-level handsets rather than expensive smartphones with unnecessary specifications and numerous features.These entry-level smartphones, which are not only affordable but also powerful enough to run various multimedia applications and intensive 3-D games, appeal to people on a tight budget and those who want phones with trimmed-down features.After all,

Paying a visit to two of LG Chem’s factories, the company’s chief executive Park Jin-soo vowed to push the envelope to overcome business difficulties due to global economic woes and continued low oil prices.At the factories in Cheongju and Ochang, North Chungcheong Province, the LG Group affiliate rolls out lithium-ion batteries for vehicles and smartphones as well as filters for waste water treatment. LG Chem CEO Park Jin-soo (center) visits the firm’s factory that manufactures filters for wast

The South Korean government hosted a public meeting in Seoul on Wednesday to discuss the potential benefits and economic impact of a free trade agreement with Israel.Led by the Ministry of Trade, Commerce and Economy, the session brought together some 100 government and industry officials and civilians to examine the FTA’s predicted effects on the national economy.“Now is the right time to actively examine the possibility of a free trade pact with Israel, as the government seeks to boost its exp

LG PREPS FOR 2016 CES -- LG Display CEO Han Sang-beom (left) pays a visit to the firm’s exhibition booth at the 2016 International CES trade show to be held from Wednesday to Saturday in Las Vegas. At the booth, the display-maker will showcase 55-inch double-sided displays, a 139-inch commercial display made of 8 organic light-emitting diode displays, and high-end OLED TVs with their sizes ranging from 65 inch to 77 inch. (LGD)

TECHNOLOGY CONVERGENCE FOR SMART HEATING -- Mobile carrier LG Uplus and Rinnai Korea, a local gas-fired tankless water heater maker, have jointly developed a smart boiler controller which allows users to monitor and remotely control home heating systems.(LG Uplus)

LAS VEGAS -- Aiming to claim the limelight at the 2016 International Consumer Electronics Show to be held Wednesday to Saturday in Las Vegas, Korean tech giant LG Electronics said Tuesday it would focus on building and promoting its premium brand image with high-end product lineups, including the LG Signature for home appliances.　The LG Signature, the latest christening strategy for the company’s premium products, consists of organic light-emitting diode TVs, a twin-tub washer and refrigerators.

Hanmi Pharmaceutical Group founder and chairman Lim Sung-ki has found himself in the public spotlight since announcing plans to distribute a portion of his personal stocks, worth some 110 billion won ($92.5 million), as a gift of gratitude to all his employees.　The country’s largest drugmaker said Monday it is distributing 900,000 shares of the chairman’s common stocks in Hanmi Science, the holding company of Hanmi Pharma, to the entire workforce.　As a result, some 2,800 Hanmi employees at both

Network operator KT said Monday that the number of its GiGA Internet service subscribers has crossed the 1 million mark as of Dec. 30. 　Since the launch of the GiGA Internet in September 2014, which offers both fiber optic and wireless network services, KT attracted around 70,000 new subscribers to the Internet service every month, which translates into 2,300 new subscribers a day. KT CEO Hwang Chang-gyu delivers a speech at a New Year’s event at a KT office in Bundang, Gyeonggi Province on Mond

Lezhin Entertainment, an operator of webtoon (online comics) services in Korea, said Monday that it launched its U.S. operations in late December.　Having completed the work to tailor its platform -- dubbed Lezhin Comics -- for the U.S. readers, including installation of payment systems and language translation, the Korean webtoon services operator will also set up a U.S. branch this year, which will be in charge of leading the entire businesses in the U.S., one of the world’s largest comics mark

SK Group chairman Chey Tae-won reaffirmed his pledge to take the lead in overcoming structural difficulties to achieve growth in 2016 during his first official appearance of the year in Seoul on Monday.　Chey made the remarks during SK Group’s New Year’s event, attended by some 500 high-level executives including CEOs of SK’s key affiliates. 　It was his first public appearance since causing a stir last week by admitting to an affair and revealing plans to leave his wife, as well as his first part

In South Korea, where a small number of family-owned conglomerates dominate the economy, calls for curbing the influence and power of big businesses continue to grow every year.　Amid concerns that chaebol are granted privileges and preferential treatment, fueled by a string of controlling family members who have displayed questionable behavior, “anticonglomerate” sentiment pervades Korean society today.　Mindful of such criticisms, the chairman of the Korea Chamber of Commerce and Industry, the c