Korea’s No. 1 chip equipment maker seeks to boost valuation, de-risk from US-China rivalry

SAN DIEGO -- Matica Biotechnology, the US subsidiary of CHA Biotech, which operates CHA University's medical centers in South Korea and internationally, has announced endeavors for significant expansion of its cell and gene therapy (CGT) CDMO orders in particular, setting itself apart from most antibody production-based CDMOs in Korea. At the firm's press conference during the Bio International Convention held in San Diego on Tuesday, Matica Bio CEO Paul Kim emphasized the anticipated

The Korea Biotechnology Industry Organization and Korea Trade-Investment Promotion Agency together with the Trade Ministry opened its Korea Pavilion at the Bio International Convention on Monday to support small to mid-sized firms in attracting new business partners. This year is the largest-ever operation of a Korean pavilion with 26 participating firms and two institutions installed in the pavilion zone. Among some 20,000 industry officials participating globally, over 1,000 are affiliated wit

Monalisa Co., a major South Korean toilet paper company, said Tuesday it has been sold to Indonesian paper-manufacturing company Arch Peninsula SDN.BHD. NHPEA Tissue Holdings AB, the largest shareholder of MSS Holdings Co. which has Monalisa as a major affiliate, signed an agreement Saturday to sell its entire stake in MSS to the Indonesian firm, Monalisa said in a regulatory filing. The share purchase agreement will be finalized when the seller and the buyer satisfy each other's precedin

The owner of US-based geoscience research company Act-Geo said Tuesday he was traveling to South Korea to discuss Seoul's newly envisioned offshore oil and gas exploration project on the east coast. On Monday, President Yoon Suk Yeol said South Korea will push to embark on the project in the East Sea after a study suggested significant oil deposits may be buried in the deep sea off the coast of Yeongil Bay in Pohang, about 260 kilometers southeast of Seoul. The decision came after the gov

Korean software developer Tmax Group celebrated its 27th anniversary Monday by unveiling its renewed corporate identity. Held in Seongnam, Gyeonggi Province, 550 employees joined the anniversary event, with an additional 1,000 participating online through Tmax's collaboration solution, Tmax WAPL. The new CI, introduced by Kim Jae-hwan, chief marketing officer of Tmax, embodies the company's outstanding, boundless and integrative qualities. The vibrant blue color conveys a sense of vita

Convenience stores in South Korea these days are in a league of their own. Along with everyday essentials and quick bites, they also sell fried chicken, fresh fruit, liquor and some expensive items like smartwatches, tires and even cars. Now, they are selling the sought-after safe-haven asset for investors: gold. Retail industry insiders attribute convenience stores’ rise as a place to buy gold to their accessibility and trustworthiness the nationwide retail franchises have established as

HD Hyundai has partnered with global leaders in the maritime classification and registration sectors to develop a new structure for ships by removing blind spots on vessels, the Korean shipbuilding conglomerate said Tuesday. For the development of AI technology, HD Hyundai signed a memorandum of understanding with the American Bureau of Shipping and the Liberian Registry at Posidonia 2024, one of the world’s largest shipping exhibitions, held in Athens, Greece this week. About 2,000 compan

Korean telecommunications giant KT Corp. said Tuesday it has forged a strategic partnership with Microsoft to enhance ties on artificial intelligence, among others. The new partnership, aiming at jointly developing AI, cloud and IT services tailored for the Korean market, was sealed at Microsoft’s headquarters in Redmond, Washington, on Monday, with KT CEO Kim Young-shub and Microsoft CEO Satya Nadella in attendance. With details of the partnership coming in September, this is the first

The Ministry of Environment and the Korea Environment Conservation Institute are co-hosting the International Exhibition on Environmental Technology and Green Energy (ENVEX) at Coex in Seoul, which began Monday and runs to Wednesday. Launched in 1979, ENVEX, now in its 45th year, aims to boost domestic demand and lay export bases for outstanding small and medium-sized green energy enterprises. It boasts the longest history among environmental technology exhibitions in Korea. ENVEX will showcase

Kakao Mobility, the operator of Korea's leading taxi-hailing service Kakao T, said Tuesday that it has introduced a new application for foreign visitors called "K.ride" to make their mobility in Korea more convenient. Previously, only those with a Kakao Talk account, the most popular messaging app in Korea, could access Kakao T. However, now users can easily create an account using their Google or Apple accounts and phone numbers via K.ride. Payments can also be made with credit o

Hana Financial Group announced Tuesday that its mobile currency exchange service, Travlog, has surpassed over 5 million subscribers, with the total amount exchanged exceeding 1.9 trillion won ($1.39 billion). Launched in July 2022, Travlog is a digital service that allows users to exchange currency at any time without time constraints, eliminating the need for physical currency exchange during overseas travel. The service offers a range of benefits, including favorable exchange rates for 41 di

SAN DIEGO -- Leading contract development and manufacturing organization Samsung Biologics has introduced a new contract development platform with a customized strategy to enhance its competitive edge in the market. At the 2024 Bio International Convention's opening event on Monday, Samsung Biologics introduced S-Tensify, its new platform designed to support the development of high-concentration biopharmaceuticals through advanced culture technology. "Sixth year into the CDO business,

Korean Air Chairman and CEO Walter Cho said Sunday that he expects US approval of the planned merger with Asiana Airlines to come by the end of October. “We expect full approval by the end of October this year,” Cho said in an interview with Bloomberg in Dubai, Sunday. He stressed “no further concessions,” saying “We have done everything the US and EU have requested us to do.” His comments come as the US is the last of 14 jurisdictions in which Korean Air need

Asia's largest private equity firm MBK Partners is to push for the sale of Homeplus Express, a supermarket unit of Homeplus, according to industry officials Monday. The firm has kicked off the process by selecting Morgan Stanley as the sales manager for the deal. The details of the sales plan have not been released yet. Though the market had projected that the equity house would be eyeing an exit on Homeplus soon, the sales plan has been limited to its unit Homeplus Express for the time bei