SEOUL, Dec. 12 (Korea Bizwire) — Hanwha Group secured approval from the Australian government to increase its stake in Austal Ltd., advancing the South Korean conglomerate’s effort to expand its defense and shipbuilding footprint across Oceania and North America. Australia’s Treasurer Jim Chalmers said the government will allow Hanwha to lift its shareholding in the Perth-based [...]
SEOUL, Dec. 12 (Korea Bizwire) — Celltrion Inc. said Friday that its autoimmune biosimilar Avtozma has been added to the preferred drug list of Synergie Collective, one of the five largest pharmacy benefit managers in the United States—an endorsement that could significantly widen the drug’s market access. The South Korean biopharmaceutical company said the agreement will [...]
SEOUL, Dec. 12 (Korea Bizwire) — General Motors offered a rare look at its next-generation mobility technologies in South Korea this week, showcasing its Super Cruise driver-assistance system, advanced battery platforms and software-defined vehicle innovations at the company’s first tech day in the country. The event, held Thursday at GM’s Exhibition Hall in Incheon and [...]
SEOUL, Dec. 12 (Korea Bizwire) — Hyundai Motor Group has secured an order to supply more than 200 hydrogen-powered buses to the Chinese city of Guangzhou, marking the biggest single hydrogen bus procurement deal in China to date, the group said Friday. Hyundai Motor’s Chinese hydrogen fuel-cell subsidiary, HTWO Guangzhou, together with Chinese commercial vehicle [...]
SEOUL, Dec. 11 (Korea Bizwire) — Kolon Industries, a South Korean chemical and specialty materials company, plans to build a new plant in Vietnam to supply additional airbag materials to Autoliv, the company said Thursday, as it expands its automotive materials business. Kolon will invest 70 billion won (US$48 million) to construct a fabric production [...]
SEOUL, Dec. 11 (Korea Bizwire) — The government said Thursday that it has formally ended mediation between Oxy Reckitt Benckiser and victims of South Korea’s long-running toxic humidifier disinfectant scandal, after the two sides failed to reach a settlement in an appeal case. The decision was announced at a meeting of the National Contact Point for [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea plans to gradually open access to its national integrated bio big data system beginning in the second half of next year, as part of a broader push to accelerate the use of medical and public health data across research and clinical fields, the government said Wednesday. The Ministry [...]
SEOUL, Dec. 11 (Korea Bizwire) — Chinese e-commerce platforms operating in South Korea have seen mixed user trends following Coupang’s massive data breach, with some apps losing active users while others continued to grow, according to new industry data. Mobile Index, a data unit of IGAWorks, said Wednesday that AliExpress and Shein experienced declines in daily [...]
SEOUL, Dec. 10 (Korea Bizwire) — The industry ministry on Wednesday asked major oil companies to refrain from engaging in drastic price hikes amid recent volatility in global energy prices, officials said. The request was made during a meeting with four major domestic oil refineries, including SK Energy Co. and GS Caltex Corp., and related [...]
SEOUL, Dec. 10 (Korea Bizwire) — Kia Corp. on Wednesday unveiled a fully-redesigned second generation model of the Seltos compact sport utility vehicle (SUV) equipped with a larger body, along with a new hybrid trim of the vehicle. The second-generation model of the Seltos, which was first introduced in 2019, was unveiled in a world [...]