Celltrion received a positive opinion for marketing its subcutaneous-type Remsima from the Committee for Medicinal Products for Human Use of the European Medicines Agency, the company said Monday. A CHMP positive opinion usually indicates that the company will eventually gain EMA‘s approval, Celltrion said, making vows to dominate the 45 trillion won ($ 37.7 billion)-size TNF-alpha inhibitor market by 2038. Celltrion has applied for a patent for Remsima SC in approximately 130 countries.&n

GE Healthcare underlines AI role in personalized, precision medicine, but stresses it will always be humans who will hold reins

South Korean consumers’ use of subscription-based rental services has grown almost fivefold in the past five years, market data showed Monday.According to online marketplace Gmarket, the number of orders for rental services of products -- such as massage chairs and air purifiers -- via Gmarket increased 448 percent from January to Sept. 16 compared to the same period in 2014.Gmarket, operated by e-Bay Korea, attributed the expanded demand for subscription services to the spending habits of

Hyundai Motor Group has launched Cradle Beijing seeking strategic partnerships with local firms for future mobility.The automaker’s global innovation center in Beijing is the fifth of its kind, following the centers in Silicon Valley, Seoul, Tel Aviv and Berlin.  Cradle is Hyunda’s open innovation business for partnership with leading firms in future mobility technology and investments in global startups. The carmaker said it expects the unit to be the hub of innovative sol

Doosan Heavy Industries’ high dependence on nuclear and fossil fuel power has led to serious financial troubles, and it is time for the firm to undergo a forensic audit, as its financial results raise important fiduciary questions, according to a US-based energy economics institute on Monday. “The past five years have been dire for its shareholders and the stock prices of the firm have fallen 74.8 percent,” said Melissa Brown, director of energy finance studies at the Inst

South Korean industrial conglomerate Hyosung’s spandex plant in India went into commercial operation Friday, the firm said Monday. The plant, near Aurangabad Industrial City on a site that covers about 400,000 square meters, is capable of producing 18,000 tons of spandex per year. Hyosung, which entered India in 2007, generates more than $300 million in annual sales there. The company established an ultra-high-voltage breaker production plant in Pune in 2016.CEO Cho Hyun-joon said, &l

South Korea remained Japan's third-largest trading partner in July, despite Tokyo's restrictions on exports to Seoul, data showed Monday. According to the data by the Korea International Trade Association, Japan exported some 4.8 trillion won ($4 billion) worth of goods to South Korea in July, accounting for 6.6 percent of Tokyo's total exports. Since July, Japan has tightened exports of key materials to South Korea in apparent retaliation over Seoul's court rulings on compensation for wartime f

South Korea's exports declined at one of the fastest rates among the Group of 20 countries amid the protracted trade row between the United States and China, data showed Monday.In the April-June period, South Korea's outbound shipments dipped 8.6 percent from the same period last year, according to a monthly report from the World Trade Organization. The rate of decline marks the second highest among G-20 countries after the 9.1-percent on-year drop posted by Indonesia.Such a drop was apparently

Trade expos, investment sessions, job fairs to be held both in India and in Korea this week

　South Korea’s biggest internet search company Naver has finalized its plan to launch a financial subsidiary by November, presenting a challenge to the country’s leading messenger app operator Kakao in the mobile payment market. 　During a meeting with stockholders on Friday, Naver decided to change the status of its in-house venture company Naver Pay to a separate entity. Named “Naver Financial,” the new subsidiary is to be officially launched Nov. 1.　To expand its platfo

SINGAPORE -- Roughly 30 percent of France-based Schneider Electric’s revenue came from the Asia-Pacific region in 2018. Another 30 percent came from North America and Western Europe, respectively, with the portfolio ranging from voltage distribution products to solutions for automation, energy storage and smart building infrastructure.Behind the firm’s global clout is its ability to make use of local resources and meet local demands, a quality that is also playing out in South Korea,

Memory chip prices steady now signaling demand recovery, but Japan export curbs remain a risk factor

CHANGWON, South Gyeongsang Province -- An engine is often dubbed the “heart of a car” as it converts gasoline energy for motion. When it comes to sport utility vehicles, the performance of an engine is even more important because it decides their power. SsangYong Motor, with 30-year-history, has been churning out gasoline engines at its Changwon plant in South Gyeongsang Province.The plant, comprised of two units, spans over 111,500 square meters. The first factory is respo

National Assembly Speaker Moon Hee-sang took time on Saturday (local time) to inspect the Samsung SDI factory located near Budapest, the company said Sunday.In a meeting with executives and employees of the battery maker, Moon remarked that Samsung represents South Korea in the global market, praising it for its tireless efforts to elevate the global status of both the conglomerate and country. Moon also talked of how proud he was when he heard that foreign countries were purchasing technologies

The Export-Import Bank of Korea has been consistently engaging in community welfare, such as through the Hope Seed volunteer program involving a soup kitchen earlier this month near Seoul Station, according to the bank Sunday.The soup kitchen provided some 300 homeless people with hearty meals ahead of Chuseok. “It was a meaningful time to share some love and bond with those who are excluded during the thanksgiving holiday,” said Eximbank Deputy President Kang Seung-joong.  Acco