S outh Korean biopharmaceutical firm Samsung Bioepis Co. was in the process of acquiring regulatory approval from European and South Korean drug authorities for SB12, a paroxysmal nocturnal hemoglobinuria (PNH) treatment biosimilar candidate, industry sources said Wednesday. The company has submitted approval applications for SB12, a more affordable version of Soliris, a drug originally developed by U.S.-based Alexion Pharmaceuticals Inc., with the European Medicines Agency (EMA) and the Ministr

South Korea's Hyundai Motor Co. said Wednesday it will supply 50 IONIQ 5 all-electric vehicles to a Japanese taxi company from August. Hyundai Motor has recently signed a deal with Kyoto-based MK Taxi to gradually supply the 50 zero-emission models to the Japanese company, the company said in a statement. The IONIQ 5 is embedded with Hyundai Motor Group's EV-only platform E-GMP and can travel up to 618 kilometers on a single charge with a 72.6 kWh battery pack, it said. MK Taxi plans t

Among Korean teenagers, female students made purchases mostly at coffee shops while male students spent their money on food delivery and late-night snack shops the most, data showed Tuesday. According to KB Kookmin‘s card analysis of debit card sales, 14 percent of male middle and high school students holding KB debit cards, paid for food delivery and late-night snacks, while 11 percent spent their allowances at hamburger restaurants and coffee shops. The analysis further showed that 19

South Korean carmaker Hyundai Motor Group said Tuesday that it would collaborate with global aero-engine maker Rolls-Royce to deliver all-electric propulsion and hydrogen fuel cell technology for advanced air mobility (AAM). AAM is a future mobility concept that integrates transformational aircraft design and flying tech. It has been the Korean carmaker’s recent focus for future mobility business. It created Supernal, an AAM-dedicated company based in US, last year.  According to H

With the fast-growing appetite for low-calorie and healthy food sparked by the coronavirus pandemic, South Korean retailers have seen a spike in their “low-food” products. Low-food refers to low-calorie, gluten-free or non-alcohol food and beverage with fewer artificial additives. E-commerce platform WeMakePrice said on Tuesday that its zero-calorie soft drink sales surged 396 percent as of June. Sales of caffeine-free drinks increased by 96 percent. Among them, barley coffee, a

Chaebol groups rush to rethink big investment plans as recession fears loom

Manpower shortages, aging drivers, low fares behind ‘taxi chaos’ at nighttime, insiders say

Renewed contract to allow manufacturing of COVID-19 vaccine against BA.5 omicron subvariant

Fiscal chiefs of Korea, US discuss financial market stability but leaves currency swap arrangement off agenda

The Myers-Briggs Type Indicator, an introspective self-report questionnaire that divides people into 16 types, has been a popular topic of conversation or pastime among millennials and Generation Z in South Korea, as the pandemic gave them more time to introspect. It’s not uncommon to see the young cohort -- those born between the 1980s up to the 2010s -- start conversations with people they meet for the first time by asking each other about their MBTI types – a combination of extra

The issuance of derivatives-linked securities (DLS) in South Korea tumbled more than 40 percent on-year in the first half of the year, data showed Tuesday, amid new regulations, rising interest rates and a bearish stock market. The country's DLS sales came to 5.7 trillion won ($4.3 billion) in the January-June period, down 40.2 percent from a year earlier, according to the data from the Korea Securities Depository. The amount was also down 25.4 percent from the previous quarter. DLS tracks

US Treasury Secretary Janet Yellen toured an LG Chem battery facility on Tuesday as the United States is seeking to build resilient supply chains with its allies in an effort to address supply disruptions and tackle high inflation. Yellen visited LG Science Park, a research and development campus of LG Group's eight affiliates, in western Seoul on her first stop of a three-day trip to South Korea. It marked her first trip to Seoul since she took office last year. Accompanied by LG Chem CEO

SK E&S, an energy unit of South Korean conglomerate SK Group, said Monday it would invest 33 billion won ($25 million) in a clean hydrogen and materials company in US. Headquartered in Nebraska, Monolith Materials is currently the only company to have successfully commercialized turquoise hydrogen, according to SK. Turquoise hydrogen is a new addition in the hydrogen color charts that emits zero carbon dioxide during its production. Through the investment, SK aims to manage the production

Samsung Biologics, a leading contract development and manufacturing organization, signed a land sales contract worth 426 billion won ($323 million) with Incheon metropolitan city to acquire space for its second Biocampus, the company said Monday. The contract mainly focuses on building research and manufacturing facilities in the 11th district of Songdo International City, which is located within the Incheon Free Economic Zone. With the second campus, the company plans to increase its manufa

The number of damage claims over canceled or delayed flights has increased as airlines struggle with manpower shortages, according to the Korea Consumer Agency on Monday. A total of 213 air service-related cases requesting compensation were submitted from January to May this year. In April, when South Korea dropped the bulk of its COVID-19 social distancing restrictions, the number of filed claims doubled on-month to 60, the agency said. The number of overseas travelers in Incheon Airport alon