SEOUL, Sept. 5 (Korea Bizwire) — South Korea on Friday outlined a plan to help the biohealth industry double its exports by 2030 and join the world’s top five. Under the “K-Bio Leap Strategy” unveiled at a seminar in Songdo, west of Seoul, the government outlined new targets for the industry, which also include the [...]
SEOUL, Aug. 28 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Thursday it will strengthen its biosimilar lineup in Vietnam to meet rising demand in the Southeast Asian country. Celltrion launched two biosimilars in Vietnam this year — Remsima, for the treatment of autoimmune diseases, in June, and Herzuma, for breast [...]
SEOUL, Aug. 25(Korea Bizwire) — TerraPower LLC, a nuclear power startup founded by Bill Gates, has expressed hope for closer business ties with SK Group, the country’s No. 2 conglomerate said Monday. TerraPower expressed such a hope in a meeting between Gates and SK Group Chairman Chey Tae-won, held in Seoul last week, where the [...]
SEOUL, Aug. 21 (Korea Bizwire) — SK bioscience Co., the biotech arm of South Korea’s SK Group, said Thursday it will expand cooperation with the Gates Foundation on next-generation preventive medicines, with a focus on research and development (R&D) for pandemic preparedness. Officials from SK bioscience and the foundation held a meeting in Seoul on [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea has established its first national body dedicated to advancing organoid technology, marking a significant step toward standardizing and commercializing the field amid growing global demand for alternatives to animal testing. The K-Organoid Consortium, officially launched on August 13 at The Westin Josun Seoul, brings together 27 companies [...]
SEOUL, August 3 (Korea Bizwire) — LG Group is ramping up its investments in the biotech sector, acquiring a stake in U.S.-based cancer therapy developer Strand Therapeutics as part of a broader push into future-growth industries. Strand Therapeutics, headquartered in Cambridge, Massachusetts, is a messenger RNA (mRNA) therapeutics company founded in 2017 by bioengineering graduates [...]
SEOUL, July 23 (Korea Bizwire) — Samsung Biologics Co. said Wednesday its second-quarter net profit gained slightly on-year, backed by increased production output at its latest facilities. Samsung Biologics’ net profit for the April-June period gained 2 percent on-year to 324.4 billion won (US$235.1 million), the company said in a regulatory filing. Operating profit rose [...]
SEOUL, July 16 (Korea Bizwire) — Im Seung-kwan, newly appointed as the fourth Commissioner of the Korea Disease Control and Prevention Agency (KDCA), pledged Monday to strengthen South Korea’s public health security infrastructure and position the agency as a central command hub for infectious disease crises. Speaking at his inauguration ceremony at KDCA headquarters in Osong, [...]
SEOUL, July 15 (Korea Bizwire) — South Korea’s pharmaceuticals industry needs government-level support to mitigate potential impacts from the United States’ aggressive tariff policies, a local think tank said Tuesday. The recommendation comes after U.S. President Donald Trump threatened to impose tariffs of up to 200 percent on foreign-made pharmaceuticals as part of his protectionist [...]
SEOUL, July 15 (Korea Bizwire) — Despite a sluggish economy, South Korea’s health supplement industry posted double-digit growth in 2023, becoming the only segment of the country’s biohealth sector to do so, according to new government data. A report released July 13 by the Korea Health Industry Development Institute (KHIDI) showed that the health supplement [...]