SAN FRANCISCO -- Yuhan Corp. plans to bring at least two novel drugs, which may include an oncology treatment, to the global market by 2026, with an ambitious vision to become one of the world's top 50 pharmaceutical companies, it said at the J.P. Morgan Healthcare Conference' Asia-Pacific track presentation session Tuesday. "Yuhan covers multiple fields in the realm of biopharmaceuticals, from discovering, manufacturing, to sales and marketing, and currently possess 29 innovative

Creditors of debt-ridden Taeyoung Engineering & Construction Co. were set to make a decision Thursday on whether to allow the ailing builder to move forward with a debt restructuring program. Taeyoung, the 16th-largest builder in South Korea in terms of construction capacity, applied for a debt restructuring program late last month due to a liquidity shortage over real estate project financing loans. The state-run Korea Development Bank, the builder's main creditor, will receive documen

Family members of Samsung Group plan to sell nearly 2.8 trillion won ($2.12 billion) worth of their shares in Samsung Electronics and other affiliates in a block deal in an apparent bid to pay inheritance taxes, industry sources said Wednesday. Hong Ra-hee, the mother of Samsung Electronics Co. Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation -- are pushing to unload a combined 29.8 million shares worth 2

Leaders of major corporations in South Korea toured exhibition booths on the opening day of the CES 2024 at the Las Vegas Convention Center, in Las Vegas, Tuesday. Among those who made an appearance at the annual global tech show were SK Group Chairman Chey Tae-won, SK Executive Vice Chairman and SK On CEO Chey Jae-won, Hyundai Motor Group Executive Chair Chung Euisun, HD Hyundai Vice Chairman Chung Ki-sun, GS Group Chairman Huh Tae-soo, and Samsung Electronics Vice Chairman Han Jong-hee.

Constant price hikes may drive away younger customers willing to seek niche alternatives

South Korean shipbuilding and heavy industries conglomerate HD Hyundai is presenting the blueprint of future construction sites utilizing unstaffed autonomous technologies at CES 2024 in Las Vegas this week. According to HD Hyundai, this year’s exhibition has been set up under the core theme of “Xite Transformation,” a land innovation vision to solve the problems humanity is facing, such as security, supply chains and climate change. HD Hyundai divided its exhibition area into

Tech giant sitting on cash with no large M&As since W9tr Harman deal in 2017

Kakao Pay, the online payment service of Korean tech giant Kakao Corp., saw exponential growth in its usage by foreign nationals last year, with the volume of monthly transactions by foreigners jumping by 14 times on-year in January. According to the firm on Wednesday, numbers for transactions and monthly foreign users also increased by eight times each over the same period. The company declined to provide further details on the exact figures. The firm has partnered with 12 online payment platfo

SK chief predicts chip recovery this year, but warns of shorter, more drastic business cycles

42dot, the software mobility unit under Hyundai Motor Group, clinched a deal with Samsung Electronics to develop an artificial intelligence-based software-defined vehicle platform on the sidelines of the CES 2024 tech show in Las Vegas on Tuesday. Song Chang-hyeon, who doubles as 42dot CEO and president of the software-defined vehicle unit at Hyundai Motor Group, and Park Yong-in, president of the system large-scale integration division at Samsung Electronics, participated in a signing ceremony

CEO dismisses oversupply concerns, renews commitment to ramping up production

Hyundai Mobis, a car parts manufacturing unit under Hyundai Motor Group, unveiled Mobion, an electric vehicle running on its self-driving e-Corner System technology for the first time at CES 2024 in Las Vegas on Wednesday. The technology incorporates the world’s first in-wheel motors consisting of four small motors that incorporate rotational steering and electronic braking in one module installed in the car wheels. “The e-Corner system reduces physical connections of mechanical devi

CEO vows to launch safer, more reliable aircrafts, not cheaper ones

New site in Korea with a production capacity of 120,000 liters expected to break ground in Q1

K-pop artist G-Dragon was spotted visiting the CES 2024, the world’s largest tech show which kicked off in Las Vegas on Tuesday. G-Dragon popped into the showrooms of Korean tech firms, including Samsung Electronics, LG Electronics, and SK Group, where he explored their cutting-edge technologies. When asked about his surprise visit to the tech show, he replied, “I’m interested in all technologies, and came to learn more about AI.” Stopping by SK Group’s exhibition b