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

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

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

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.

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

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

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

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

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

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

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

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

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

South Korea's exports rose for the second consecutive month in November as semiconductor shipments rebounded, government data showed Friday. According to data released by the Ministry of Trade, Industry and Energy, South Korea’s exports rose 7.8 percent on-year to $55.8 billion in November. The country’s exports in November are currently the highest this year, surpassing the figure in October when the country’s exports saw a 13-month downturn and increased by 5.1 percent

Celltrion Healthcare, Celltrion Group's sales arm, announced Thursday that the company’s autoimmune disease treatment Zymfentra will make its debut in the US market on Feb. 29 next year. Zymfentra, which is also known as Remsima SC, is a subcutaneous injection formulation of Celltrion's infliximab Remsima, a treatment for patients with rheumatoid arthritis, Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis and psoriasis in adult patients. Zymf

SK Bioscience announced Wednesday that the company would supply Novavax's updated COVID-19 vaccine in South Korea, as part of the government’s winter vaccine program running early next year. SK Bioscience's announcement was made after the Ministry of Food and Drug Safety of South Korea gave emergency use authorization for the Novavax COVID-19 vaccine earlier in the day. The Korean government’s approval marks the third of its kind for Novavax’s protein-based updated CO

Posco Holdings said Wednesday that the steel giant has completed the construction of the country’s first lithium hydroxide factory, a move to strengthen its competitiveness in the global lithium race. The new facility is located within the Yulchon Industrial Complex in Suncheon, South Jeolla Province. The plant can annually produce 21,500 metric tons of lithium hydroxide, one of the key components used for batteries for electric vehicles. The plant is owned by Posco-Pilbara Lithium Solutio

Samsung Biologics said Tuesday that the company has signed five contract manufacturing deals to bring the total value of its annual orders this year to an all-time high of 3.48 trillion won ($2.7 billion). According to Samsung Biologics’ regulatory filing, the company has recently inked one new and four expanded deals with a pharmaceutical company based in Asia. The five contracts are worth a total of around 761 billion won, the company said. The new CMO deal is worth 589 billion won, and

Posco Group will hold a board meeting next month possibly to start its search for its new chairperson, according to industry sources on Monday. It remains to be seen whether Posco Chairman and CEO Choi Jeong-woo will seek a third term. His second term ends in March next year. Under the group’s internal policy, the current CEO should be reviewed first if he wishes to run for another term. But sources say the group is likely to revise the rule amid growing calls for a more transparent CEO se

SK Bioscience said Wednesday that the company signed a memorandum of understanding with Hilleman Laboratories to cooperate on the development of a second-generation Ebola vaccine and its global supply. Hilleman Laboratories is a Singapore-based vaccine research organization, founded as a joint venture between US drug maker MSD and British foundation Wellcome Trust. Under the new partnership, SK Bioscience will work with Hilleman Laboratories to improve its vaccine production efficiency and therm