[THE INVESTOR] The US District Court for the District of Massachusetts ruled Janssen’s Remicade patent invalid on Aug. 17. This repeats the decision of the US Patent & Trademark Office from February 2015, and brightens the prospect of Celltrion(chairman Seo Jung-jin) and Pfizer’s plan to introduce a biosimilar version of the rheumatoid arthritis and autoimmune disease treatment in the US within this year. Janssen Biotech filed a suit over Celltrion’s Remsima, saying the South Korean biopharmaceu

[THE INVESTOR] The Ministry of Trade, Industry and Energy has named Seoul National University law professor Shin Hi-taek as the Korea Trade Commission chairman, it announced Aug. 17. Shin studied law at Seoul National University and Yale with a specialization in international investment. He worked at Kim & Chang law firm and served as the director of Seoul National University Research Institute and a counsel for the International Center for the Settlement of Investment Disputes.The international

[DISCLOSURE] Hanwha Engineering & Construction reported on Aug. 17 that it has turned to black with 73 billion won (US$66.61 million) operating profit in the first half of this year. Its sales came in at 1.39 trillion won and net profit reached 345 billion won turning to black from the same period last year.

[THE INVESTOR] Ahn-gook Pharmaceutical announced on Aug. 17 that it has completed a nonclinical study on UAI-101, an 11B-HSD1 inhibitor, and will apply for phase 1 clinical trials to the European Medicines Agency by the end of this year. This new drug candidate is a new type of therapy that will selectively inhibit 11B-HSD1, an enzyme that controls cortisol that regulates metabolism and thus can cause metabolic-related conditions including diabetes, obesity and dyslipidemia. Ahn-gook Pharmaceuti

[THE INVESTOR] Asiana Airlines’ passenger service share in the first half of this year fell to 19.51 percent, its lowest since 1999, according to International Airport’s data released Aug. 17.The share of South Korea’s second-largest commercial airline has been downhill since it peaked at 25.07 percent in 2010. Cargo service share also is down from 2013’s 26.5 percent. While the 18-year-old airline saw 1.39 percent point drop in the first half, low-cost carriers are closing in on the 20 percent

[THE INVESTOR] Ilyang Pharmaceutical announced Aug. 17 that its anti-leukemia agent Radotinib has been found effective to treat Parkinson’s disease.The team of Ko Han-seok, assistant professor of neurology at Johns Hopkins School of Medicine, has found from animal testing that Radotinib decreased aggregation of a protein named alpha-synuclein, a major constituents of protein clumps that are the pathological hallmark of Parkinson’s disease. They also confirmed that it hindered activation of c-ABL

[THE INVESTOR] Celltrion’s biosimilar version of Janssen’s Remicade might debut in the US as early as October, as the patent suit is showing signs of coming to an end. From Aug. 16 to 18, a U.S. District Court for the District of Massachusetts will hold a trial over the patent of Remicade, following Celltrion’s request to speed up the legal process it claims is being exploited by Janssen as a means to hindering the introduction of the biosimilar.Related article : US court rules in favor of Cellt

[THE INVESTOR] International low-cost carriers are increasing their flights against their fast-expanding South Korean counterparts, according to data released Aug. 16.Nine international budget carriers flew 9,207 flights to and from South Korea this year through July, a 23.8 percent increase from the same period last year. Peach AirVietnam’s VietJet and Japan’s Peach Air have been the most aggressive among them. VietJet increased the number of flights by 88.09 percent on-year to 884, adding serv

[DISCLOSURE] Hanjin Shipping (117930) reported on Aug. 16 that its operating loss in the second quarter came in at 228.9 billion won (US$208.85 million) turning to red from the same period last year. Its sales decreased 27.5 percent to 1.43 trillion won and net loss amounted to 212 billion won turning to red on-year.

[DISCLOSURE] Woongjin Energy (103130) acknowledged media reports that it is considering taking over SKC Solmics’ solar energy division but did not provide any specifics in a statement released on Aug. 16 in response to Korea Exchange’s inquiry. a

[DISCLOSURE] Kolon (002020) reported on Aug. 16 that its operating profit in the second quarter rose 75.1 percent to 40.8 billion won (US$37.23 million) from the same period last year. Its sales increased 5.8 percent to 995.6 billion won and net profit decreased 69.5 percent to 15.7 billion won on-year.

[DISCLOSURE] Kumho Tire (073240) reported on Aug. 16 that its operating profit in the second quarter fell 26 percent to 40.73 billion won (US$37.16 million) from the same period last year. Its sales decreased 5 percent to 744.84 billion won and net loss came in at 7.47 billion won turning to red on-year.

[DISCLOSURE] E1 (017940) reported on Aug. 16 that its operating profit in the first half of this year rose 38.5 percent to 49.2 billion won (US$44.89 million) from the same period last year. Its sales decreased 10.1 percent to 1.65 trillion won and net profit increased 36.2 percent to 55.6 billion won on-year.

[DISCLOSURE] Hanwha (000880) reported on Aug. 16 that its operating profit in the second quarter rose 32.4 percent to 548.7 billion won (US$500.64 million) from the same period last year. Its sales increased 12.1 percent to 10.86 trillion won and net profit hiked 121.2 percent to 428.1 billion won on-year.

[DISCLOSURE] Hanjin Heavy Industries & Construction Holdings (003480) reported on Aug. 16 that it has posted 278.7 billion won (US$254.10 million) impaired loss on bonds in 2015 fiscal year. It was due to the decrease in non-operational asset value of its subsidiary Hanjin Heavy Industries & Construction (097230), the company explained. This amounts to 26.32 percent of its equity capital as of 2014.

[DISCLOSURE] SK Networks (001740) denied the media reports saying that it will acquire SK Encar in a statement released on Aug. 16 in response to Korea Exchange’s inquiry.

[DISCLOSURE] Orion (001800) reported on Aug. 16 that its operating profit in the first half fell 4.9 percent to 146.8 billion won (US$133.84 million) from the same period last year. Its sales increased 1.6 percent to 1.16 trillion won on-year.

[DISCLOSURE] Hanjin Transportation (002320) reported on Aug. 16 that its operating profit in the second quarter rose 39.61 percent to 11.8 billion won (US$10.76 million) from the same period last year. Its sales increased 13.45 percent to 44.71 billion won and net profit hiked 10,231 percent to 104.4 billion won on-year.

[THE INVESTOR] Korea Land & Housing Corporation won a 4 trillion won (US$3.66 billion) project to build the first smart city in Kuwait on Aug. 5, it announced Aug. 16. KLHC will construct a new smart and environmentally friendly city named South Saad Al-Albullah spread over a site of 59 square kilometers to accommodate up to 40,000 housing units.  KLHC holds a presentation on the Kuwait smart city project. The Investor / Lee Sang-subLocated 30 kilometers west of the capital, it will combine info

[DISCLOSURE] Medytox (086900) reported on Aug. 16 that its operating profit in the second quarter came in at 18.8 billion won (US$17.14 million). Its sales increased 44 percent from the same period last year to 31.5 billion won and net profit reached 15.9 billion won.