Ginseng can help boost the effectiveness of flu vaccines used on mice, and is also helpful in protecting respiratory organs, Korea Ginseng Corp.’s research institute said Monday. According to a study by KGC’s Korea Ginseng Research Institute, ginseng intake increases the protective effect of vaccines compared to when the vaccine is used alone. The Korean ginseng company also cited research dubbed, “Protective Effect of Korean Red Ginseng Extract on the Infections by H1N1 a

Five South Korean biotech companies are pushing for phase three clinical trials of COVID-19 vaccines in the second half of this year, the health ministry said Monday. The government plans to inject about 68.7 billion won ($61 million) this year for the clinical trials of COVID-19 vaccines by SK Bioscience Co., EuBiologics Co., Cellid, Genexine and GeneOne Life Science, the ministry said. The ministry made the announcement in a report to President Moon Jae-in. Also Monday, the Ministry of Food

The South Korean government and experts in the semiconductor industry are paying close attention to a meeting hosted by the White House on Monday in the US.  According to Seoul-based government officials and industry experts, concerns exist about recent moves by the US government to reinforce its chip industry in terms of Korea’s industrial competitiveness and Korean chipmakers’ global operations.  The moves by the Biden administration -- the review of America’s sem

SKI’s US battery biz salvaged after dramatic patch-up with LGES, but challenges remain

Institut Pasteur Korea announced Monday that it had signed an agreement with Genexine to offer support for the latter’s global clinical studies of COVID-19 vaccine candidate GX-19N. IPK said it would help Genexine conduct clinical studies of GX-19N and examine the efficacy of GX-19N against COVID-19 variants. According to Genexine, the vaccine candidate, which contains an antigen targeting the coronavirus’ nucleocapsid protein, is potentially effective against COVID-19 variants.

Samsung BioLogics, Kakao and Hyundai Motor are competing to be the fifth-largest company in terms of market capitalization in South Korea. According to Korea Exchange on Monday, Samsung BioLogics is currently holding fifth place on the country’s main bourse Kospi, with a market cap of 51.7 trillion won ($45.9 billion). Kakao and Hyundai Motor closely follow with 49.5 trillion won and 48.2 trillion won, respectively. Competition for the fifth spot has recently escalated after Kakao&rsqu

Market Kurly’s best price guarantee policy in direct challenge to Coupang and E-mart

Pan Ocean Co., South Korea's second-largest shipper by sales, said Monday it has signed another deal with global oil giant Shell NA LNG, LLC (Shell) for the lease of a liquefied natural gas (LNG) bunkering ship for six years. Under the $55-million deal, the 18,000-cubic meter LNG bunkering ship to be built by Hyundai Mipo Dockyard Co. will be put into operation for Shell by May 2023, the company said. The deal to be effective by May 2029 has an option to extend the lease period by two years.

South Korea's leading steelmaker Posco estimated Monday its first-quarter operating profit hit the highest point in 10 years on robust demand amid global economic recovery from the COVID-19 pandemic. Operating profit for the January-March quarter jumped to 1.55 trillion won ($1.4 billion) from 705.3 billion won during the same period of last year, the company said in a regulatory filing. It marked the highest quarterly operating profit since the steelmaker reported 1.7 trillion won in the se

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has obtained a combined 227 billion won ($202 million) worth of orders to build three liquefied petroleum gas (LPG) carriers. Under the deal with an Asian company, Hyundai Samho Heavy Industries Co., a unit of KSOE, will deliver two 86,000-cubic meter LPG carriers starting in the first half of 2023, KSOE said. Another deal with an Oceanian company calls for Hyundai Mipo Dockyard Co., another KSOE unit, to deliver a 40,000-

SK Telecom Co., South Korea's largest mobile carrier, said Monday it launched its augmented reality (AR) app in the United States as it seeks widespread adoption of the immersive technology. The mobile carrier said it released its Jump AR app, previously only available in South Korea and Hong Kong, on Google's Play store in the United States, allowing American Android users to experience its mixed reality content, such as taking photos with celebrity avatars. SK Telecom said it also released a

Shares of two Korean battery makers spiked Monday as they ended a two-year legal dispute over electric vehicle (EV) battery technology, which cleared uncertainty over their businesses. On Sunday, LG Chem-owned LG Energy Solution Ltd. and SK Innovation Co. reached a last-minute settlement in a bitter US trade dispute, just one day before an import ban on SK was to take effect. SK Innovation agreed to pay 2 trillion won ($1.78 billion) in compensation, half in cash and half in royalty, to its bi

Battery rivals reach last-minute deal in one of largest-ever trade secret disputes among Korean firms

Samsung Electronics, South Korea’s top tech giant, is among 19 global semiconductor manufacturers invited to a White House meeting to be held virtually on Monday. The CEO summit, according to US officials, will discuss a chip supply shortage, especially for those used in vehicles. “On Monday afternoon, National Security Adviser Jake Sullivan and NEC Director Brian Deese, joined by Secretary of Commerce Gina Raimondo, will host a virtual CEO Summit on Semiconductor and Supply Chai

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