SK hynix, a semiconductor manufacturer under SK Group, announced on Wednesday that it has successfully issued a Sustainability-Linked Bond worth $1 billion, making it the first global chipmaker to do so. SLB is a type of bond with interest rates that are adjusted depending on whether a company's environmental, social and corporate governance (ESG) objectives are achieved. For this ESG requirement, the company aims to reduce its greenhouse gas emissions by 57 percent of its 2020 rate by 2026

Posco International, a trading and energy unit of Posco Group, said Tuesday it is building a crude palm oil refining plant in Indonesia, pinning high hopes on the huge potential across industries, including food, cosmetics and bioenergy. The decision comes after its board recently approved $200 million worth of funding from AGPA, the company’s Singapore unit, to launch the project. One of the possible plant sites is Kalimantan, the Indonesian portion of the island of Borneo, considering it

SK geo centric, a subsidiary of SK Innovation, signed a licensing contract with British company Plastic Energy to jointly build a plastic waste recycling plant in Ulsan. Under the deal inked at the CES tradeshow in Las Vegas, the factory will have an expected capacity of 66,000 metric tons of end-of-life plastic waste input. The pyrolysis plant will be situated in the Ulsan plastic recycling complex, called the Ulsan Advanced Recycling Cluster. Construction of the plant will begin this year and

Hwaseong city Mayor Jeong Myeong-geun visited Torrance, a city in southern California on Wednesday in an effort to promote cooperation and broaden administrative strides. First proposed by Torrance, the meeting between Mayor Jeong and Torrance mayor George Chen along with other city officials was held to discuss mutual cooperation between the two cities. They talked about bolstering efforts in various fields, including the establishment of communication channels, economic growth, and cultural sh

Celltrion Healthcare, the marketing unit of Korea's drug developer Celltrion, said on Wednesday that the company inked a partnership with Hikma Pharmaceuticals to launch its biosimilar version of metastatic colorectal cancer treatment Avastin in the Middle East and North Africa region. “The pharmaceutical market, especially the need for biomedicine, is continuously growing in the MENA region. This first step we are taking is a meaningful one, and we will strive to continue providing s

South Korean drug maker Celltrion said Tuesday its antibody biosimilar Remsima has received authorization from 100 countries worldwide, a feat achieved almost 10 years after its getting approval at home. Remsima is a TNF-α inhibiting antibody biosimilar used to treat autoimmune diseases such as rheumatoid arthritis, ulcerative colitis, and Crohn’s disease. The drug got its first approval from Korea’s Ministry of Food and Drug Safety in 2012. Since then, the biosimilar received