Archigen Biotech Ltd., a 50-50 joint venture between Samsung BioLogics and UK-based AstraZeneca, has initiated the clinical trials for a new Rituxan biosimilar in South Korea, Samsung BioLogics said Tuesday.According to the Korean Ministry of Food and Drug Safety, Archigen’s SAIT101 was granted approval to begin phase 1 and phase 3 clinical trials at eight local hospitals on Nov. 11. The trials in Korea are currently ongoing, the Samsung unit said.The Samsung BioLogics headquarters in Songdo, In

South Korean mobile carrier LG Uplus has partnered with leading Chinese telecommunications equipment provider Huawei to expand the emerging markets of Internet of Things-based devices and services in Korea.　The two companies jointly opened the “NB-IoT Open Lab” at the LG Uplus Sangam Center in northwestern Seoul on Monday. The lab will become a venue for local companies to design, assemble and test run new devices connected to the Narrow-Band Internet of Things, or NB-IoT, network.In a bid to en

BUSAN -- By strapping on a virtual reality headset at the G-Star 2016 game convention in Busan, South Korea, one can fight in outer space, pilot a plane or throw fire grenades at a fellow gamer in the digital realm. 　VR is a technology that completely immerses users in computer-generated worlds via a head-mounted display, transporting them out of the real world and into the virtual. 　It held a strong presence at this year’s G-Star, as the world’s leading makers of VR goggles and software such as

South Korean biopharma company Celltrion said Thursday that its Rituxan biosimilar has been granted sales approval by Korea’s Ministry of Food and Drug Safety.　Celltrion’s Truxima is a biosimilar referencing Roche’s blockbuster lymphatic cancer treatment Rituxan (rituximab). Biosimilars refer to cheaper, near-replicas of biologic drugs that have lost patent protection.Celltrion's headquarters in Songdo, Incheon (Yonhap)Truxima, also known as CT-P10, has been approved for the treatment of Non-Hod

BUSAN — In the courtyard of the BEXCO exhibition center in Busan, Kakao’s beloved Ryan the lion, the Japanese humanoid robot Astro Boy and the warriors of Netmarble Games’ “Seven Knights” welcome visitors to the global gaming convention G-Star 2016 which kicked off Thursday.　　They have all climbed out of their animated worlds for one reason -- to promote their representative mobile games, one of the driving forces of this year’s G-Star alongside console games backed by virtual reality technology

BUSAN -- Nexon's mobile action role-playing game “Heroes of Incredible Tales” won the grand prize at the 2016 Korea Game Awards on Wednesday.“Heroes of Incredible Tales,” also known as “HIT,” was developed by game development studio NAT Games, owned by Korea’s leading game company Nexon.Awardees of the 2016 Korea Games Awards pose for a picture after the ceremony held in Busan on Wednesday evening (Sohn Ji-young/The Korea Herald)Released in November 2015, "HIT" has secured more than 13 million u

BUSAN -- Global gaming convention G-Star is slated to take off in Busan from Thursday, showcasing the latest games and technologies as well as hosting diverse game competitions and promotional events.　G-Star 2016, the biggest in its history, will feature more than 2,700 booths, including those for public enjoyment as well as business partnerships, the G-Star Organizing Committee said Wednesday. A total of 653 game-related companies from 35 countries are partaking in this year’s show.　Leading PC

Industrial designer Ross Lovegrove is currently working on a new household lighting structure using organic light-emitting diodes in conjunction with the OLED business division of an LG company, to be introduced next year.The acclaimed Welsh designer, who recently came to Seoul to speak at the Herald Design Forum 2016, said he was working with LG’s lighting division chief to design a new lighting installation using OLEDs. The installation will be unveiled at the Salone del Mobile 2017, an interi

As mobile data networks speed up, autonomous vehicles fully connected to their surroundings are expected to become a reality in the near future.While other technologies will be required for the commercialization of self-driving cars, South Korean carrier SK Telecom zeroed in on how next-generation 5G networks will serve as a foundation for these futuristic vehicles in a live demonstration here Tuesday.At the 240,000 square-meter BMW Driving Range in Incheon, SKT unveiled the T5, an experimental

US burger joint Shake Shack will open its second outlet in Cheongdam-dong of Seoul’s Gangnam District, the brand’s South Korean licensee SPC Group said Wednesday.　The upcoming Shake Shack outlet is the second to open in Korea’s capital city, following its its first ever store which opened near Gangnam Station. The new store is expected to ease the long lines that still persist at Shake Shack’s first outlet.Construction is underway for Seoul’s second Shake Shack outlet in Cheongdam-dong. (SPC Gro

South Korea’s top portal operator Naver has joined hands with SoftBank Ventures Korea to establish a new 50 billion won ($42.75 million) investment fund to nurture promising start-ups in the media content business and boost its own competitiveness as a platform provider.　　Naver said Monday that it will form the “SB Next Innovation Fund” in partnership with the venture capital arm of Japanese telecom giant SoftBank. They will make early investments in local firms that possess standout services or

MARATHON FOR LOVE -- Participants cheer before starting the “Challenge for Love 63” marathon held inside the 63 Building in Yeouido, Seoul, Sunday. Hosted by Hanwha Life Insurance, the marathon involves running up 1,251 flights of stairs to the top of the building. By taking part in the marathon, participants donate tickets to diverse attractions inside the 63 Building to underprivileged children. (Yonhap)

The Korea Herald is publishing a series of articles on the alarming state of the country’s economy and the challenges to be addressed. This is the fifth installment. -- Ed.Faced with the continued slowdown of its manufacturing sector, South Korea is eyeing new growth in the field of biotechnology, a promising industry expected for a sharp growth in the years ahead.　Biotechnology broadly refers to the use of genetic engineering and molecular biology to modify living cells to produce novel substan

Samsung Group’s combined market capitalization has risen to 375.52 trillion won ($322 billion) following the stock market debut of its biotechnology unit, a local financial data provider said Sunday.After Samsung BioLogics’ Kospi entrance on Thursday, Samsung’s 15 listed affiliates accounted for 29.07 percent of the total market cap of all the companies traded on Korea’s main stock exchange, WISEfn said.The figure marks a 1.25 percentage point increase from the group’s 27.82 percent ownership re

South Korea’s leading game company Nexon said Thursday that its third-quarter operating profit fell 12 percent on-year to 16.3 billion yen ($154.6 million), crediting the decline to a strong yen during the cited period.　The company’s revenue also fell 11 percent on-year to 44.3 billion yen, according to its regulatory filing. The figures reflect exchange rates in the July-September period.Nexon, which is listed on the Tokyo Stock Exchange, pointed out that its third-quarter performance took a hi