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Refiners to Bask in Another Boom Year

Refiners to Bask in Another Boom Year

SEOUL, Nov. 21 (Yonhap) — Aided by improved cracking margins and solid demand for petrochemical products, local oil refiners are forecast to pocket more record earnings this year, and their stellar performance may continue into next year, industry sources said Tuesday. Oil prices have been in the doldrums since 2015 on concerns of an oversupply. [...]

Samsung Bioepis Gets Nod for Biosimilar Drug in Europe

Samsung Bioepis Gets Nod for Biosimilar Drug in Europe

SEOUL, Nov. 20 (Korea Bizwire) — South Korean biopharmaceutical firm Samsung Bioepis Co. said Monday it has won approval from European authorities for the sale of its biosimilar drug Ontruzant. The European Commission (EC) accepted Samsung Bioepis’ application to sell the biosimilar referencing Switzerland-based Roche Holding’s Herceptin, also known as Trastuzumab, the company said. The [...]

Hyundai Motor Ties Up with Michelin for EV Tires

Hyundai Motor Ties Up with Michelin for EV Tires

SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]

SK Planet’s Turkish Unit Sets Record Daily Transactions

SK Planet’s Turkish Unit Sets Record Daily Transactions

SEOUL, Nov. 14 (Korea Bizwire) — SK Planet Co., the operator of local e-commerce platform 11st, said Tuesday its Turkish unit posted 42 billion won (US$37.5 million) in transactions during an online shopping event held last week, marking the highest daily ever record. The new peak was set during a shopping promotion held by n11, [...]

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

SEOUL, Nov. 13 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold 769 excavators in China last month, almost doubling from a year [...]

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

SEOUL, Oct. 31 (Korea Bizwire) — Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom. Net profit came to 11.1 trillion won (US$9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through [...]

Exports by Startups to Hit Record US$20 Billion This Year: KITA

Exports by Startups to Hit Record US$20 Billion This Year: KITA

SEOUL, Oct. 27 (Korea Bizwire) — Exports by South Korea’s venture startups will likely hit a record US$20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday. The amount reached $14.7 billion for the first nine months this year, up [...]