SEOUL, Jan. 31 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Friday its new biosimilar for an autoimmune disease treatment has received approval from the U.S. Food and Drug Administration (FDA). The FDA approved Celltrion’s Avtozma, a biosimilar to Actemra, in both intravenous and subcutaneous formulations, according to the company. Avtozma [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s Financial Stress Index (FSI) spiked in December 2024 to levels last seen during the Legoland crisis in September 2022, reflecting mounting economic instability amid political uncertainty. According to data submitted by the Bank of Korea (BOK) to lawmaker Lim Kwang-hyun of the National Assembly’s Strategy and Finance Committee, [...]
SEJONG, Jan. 30 (Korea Bizwire) — South Korea saw sharp price increases in food items last year, with fruits and vegetables making up the majority of the top 10 most inflation-affected goods, according to data from Statistics Korea. Among 458 consumer price index items, Asian pears recorded the steepest price hike, soaring 71.9% in 2024 due [...]
SEOUL, Jan. 30 (Korea Bizwire) - Authorities held a meeting Thursday on how to conduct a probe into an Air Busan passenger plane that caught fire at a South Korean airport earlier this week amid safety concerns, the land ministry said. On Tuesday, the Airbus plane operated by budget carrier Air Busan and bound for [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korean drug manufacturers are rapidly expanding their presence in the global autoimmune disease treatment market, challenging the longtime dominance of Western pharmaceutical giants. Autoimmune diseases, which occur when the body’s immune system mistakenly attacks its own organs, tissues, and cells, encompass a range of conditions including rheumatoid arthritis, multiple sclerosis, [...]
SEOUL, Jan. 30 (Korea Bizwire) — Samsung Display Co., a panel manufacturing unit of Samsung Electronics Co., said Thursday its new office building has received top ratings from a U.S. green building certification system for its energy efficiency and eco-friendly design. Samsung Display Research, the company’s newly built headquarters in Giheung on the southern outskirts [...]
SEOUL, Jan. 30 (Korea Bizwire) — Starbucks Korea is planning to add at least 100 outlets this year after recently opening the 2,003rd store in Asia’s fourth-biggest economy, an industry source said Thursday. The Seattle-based coffee giant introduced its first store in front of Ewha Womans University in Seoul in 1999 in partnership with local [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s exports of traditional rice cakes reached a fresh high in 2024, data showed Wednesday, driven by the growing popularity of Korean food around the globe. Outbound shipments of rice cakes reached US$91.4 million in 2024, up 17.5 percent from a year earlier, according to data compiled by [...]
SEOUL, Jan. 29 (Korea Bizwire) — The seating proportion of low-cost carriers (LCCs) in South Korea’s aviation market has far surpassed the average of the Asia-Pacific region, according to an industry report Wednesday, reflecting the popularity of budget airlines in the country. According to the analysis report by aviation market tracker Center for Aviation, LCCs [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s coffee imports reached a record high of nearly 2 trillion won ($1.38 billion USD) in 2024, reflecting an 11% increase from the previous year, according to data from the Korea Agro-Fisheries & Food Trade Corporation. The country imported 215,838 tons of coffee, including green beans, roasted beans, concentrates, [...]