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CJ Cheiljedang Buys Brazilian Firm, Launches Vegetable Protein Manufacturer

CJ Cheiljedang Buys Brazilian Firm, Launches Vegetable Protein Manufacturer

SEOUL, Aug. 28 (Korea Bizwire) — CJ Cheiljedang Corp., South Korea’s leading maker of processed foods, said Monday it has completed the acquisition of a Brazilian company to expand its foothold in the vegetable protein business. Earlier in June, the Korean firm announced its plan to buy Selecta, a Brazilian company that manufactures soy protein [...]

Crowdfunding in S. Korea Soars 29 pct This Year

Crowdfunding in S. Korea Soars 29 pct This Year

SEOUL, Aug. 25 (Korea Bizwire) — The amount of crowdfunding in South Korea shot up nearly 29 percent this year, data showed Friday, showing the platform growing as an effective financing option for startups. According to the data by the Korea Securities Depository, 106 companies raised a combined 14.2 billion won (US$12.6 million) from 5,826 [...]

Samsung Bioepis Joins Hands with Takeda to Develop Novel Drugs

Samsung Bioepis Joins Hands with Takeda to Develop Novel Drugs

SEOUL, Aug. 21 (Korea Bizwire) — South Korean biopharmaceutical firm Samsung Bioepis Co. said Monday that it has reached an agreement with Japan-based drug giant Takeda Pharmaceutical Company Ltd. to jointly develop new original drugs in a bid to expand its business area beyond copies of drugs. Under the partnership, the two will develop novel [...]

Foreign Ownership of KOSDAQ Stocks Hits Record High

Foreign Ownership of KOSDAQ Stocks Hits Record High

SEOUL, Aug. 18 (Korea Bizwire) — Foreign ownership of stocks traded on South Korea’s secondary stock market has hit a new high, data showed Friday, as offshore investors turn to undervalued tech firms there after exiting the main bourse. As of Thursday, offshore investors held 25.98 trillion won (US$22.8 billion) worth of shares traded on [...]

Major Pharmaceuticals Expand R&D Spending in H1

Major Pharmaceuticals Expand R&D Spending in H1

SEOUL, Aug. 16 (Korea Bizwire) — Major South Korean pharmaceutical companies expanded their spending on research and development (R&D) during the first half this year, with Hanmi Pharmaceutical Co. allocating the most, industry data showed Wednesday. According to their semi-annual business reports, 10 out of the 15 drug companies spent more on R&D during the [...]

WeWork to Invest US$500 mln in S. Korea, Southeast Asia

WeWork to Invest US$500 mln in S. Korea, Southeast Asia

SEOUL, Aug. 7 (Korea Bizwire) — WeWork, a global shared office space provider, said Monday it will invest a combined US$500 million in South Korea and Southeast Asia as it attempts to expand its presence in the Asian market. Under the expansion plan, the New York-based company has appointed Matt Shampine, currently head of Marketing [...]

2nd-phase Construction Begins at Ulsan Port for Oil Hub Project

2nd-phase Construction Begins at Ulsan Port for Oil Hub Project

SEOUL, Jul. 24 (Korea Bizwire) — Breakwater construction will begin at Ulsan as part of an ongoing move to transform the port city into a Northeast Asia oil trading hub, the maritime ministry said Monday. Some 830 billion won (US$741.73 million) will go into erecting a 3.1-kilometer-long breakwater, scheduled for completion by 2023. It is [...]