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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 [...]

National Pension Fund Raises Holdings of Samsung, SK Hynix Stocks

National Pension Fund Raises Holdings of Samsung, SK Hynix Stocks

SEOUL, Jul. 19 (Korea Bizwire) — South Korea’s national pension fund has raised its holdings of stocks in Samsung Electronics Co. and SK hynix Inc. apparently to capitalize on the global semiconductor industry boom, market data showed Wednesday. The National Pension Fund held 85.4 trillion won (US$75.8 billion) worth of stocks in 100 companies in [...]

Value of Overseas Investment Funds Soars over Past Year

Value of Overseas Investment Funds Soars over Past Year

SEOUL, Jul. 16 (Korea Bizwire) — The value of South Korea’s overseas investment funds has jumped more than 40 percent over the past year as big-time investors look overseas for high returns despite the recent bull of the domestic stock market, data showed Sunday. According to the data by the Korea Financial Investment Association, the [...]

Lotte Chemical to Expand Investment in Malaysia

Lotte Chemical to Expand Investment in Malaysia

SEOUL, Jul. 11 (Korea Bizwire) — Lotte Chemical Co., South Korea’s No. 2 petrochemical firm, said Tuesday that it will use the proceeds from the initial public offering of its Malaysian unit to finance its facility expansion in the Southeast Asian country. Its Malaysian unit, Lotte Chemical Titan Holdings Berhads, made its market debut there [...]