SEOUL, March 3 (Korea Bizwire) – South Korea should reduce its reliance on the U.S. economy and push to galvanize domestic demand as the world’s No. 1 economy is expected to continue its slow growth down the road, a state think tank said Friday. In a report on the future of the U.S. economy, the [...]
SEOUL, Feb. 20 (Korea Bizwire) – Less than one in five South Korean manufacturers of medical supplies and equipment said they plan to increase new research and development (R&D) jobs, a survey showed Monday, despite the government’s push to become a global biotech and medical industry hub. According to the survey by the Korea Medical [...]
SEOUL, Feb. 14 (Korea Bizwire) – Four major South Korean pharmaceutical companies spent more than 100 billion won (US$86.9 million) each on research and development (R&D) in 2016, industry officials said Tuesday. The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — sharply expanded their [...]
SEOUL, Feb. 2 (Korea Bizwire) – South Korea’s science ministry said Thursday that it will spend 315.7 billion won (US$273.7 million) this year to develop new bio technology, as part of efforts to become a global biotech and medical industry hub. The 2017 budget, a 31.4 percent jump from a year earlier, is aimed at [...]
SEOUL, Jan. 9 (Korea Bizwire) – Only one South Korean pharmaceutical company had a new drug approved in 2016, compared to 11 drugs introduced by overseas companies including Novartis, Gilead Sciences, and Pfizer. Olita Tablet, a lung cancer drug from Hanmi Pharmaceutical, was the only new drug introduced last year by a local company, and [...]
SEOUL, Dec. 27 (Korea Bizwire) – Samsung Electronics Co. retained its No. 2 spot in a global ranking for industrial research and development spending for the third consecutive year, a survey by the European Commission’s Economics of Industrial Research and Innovation showed Tuesday. According to the annual survey, 75 South Korean firms were among the [...]
LONDON, Oct. 24 (Korea Bizwire) — By 2020, companies will have shifted the majority of their R&D spending away from product-based offerings to software and service offerings, according to the 2016 Global Innovation 1000 Study from Strategy&, PwC’s strategy consulting business. The need to stay competitive is the top reason why companies cited a shift [...]
SEJONG, Oct. 11 (Korea Bizwire) – South Korea will spend a total of 500 billion won (US$450 million) in the coming five years to foster the robot industry as a new growth engine for Asia’s fourth-largest economy, the trade ministry here said Tuesday. “The robot industry has emerged as a new technology frontier that will [...]
TEL-AVIV, Israel, Aug. 11 (Korea Bizwire) — RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) (“RedHill” or the “Company”), a biopharmaceutical company primarily focused on development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, today provided an update on select research and development potential milestones and estimated timelines. “RedHill [...]
SEOUL, July 29 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning (MSIP) of Korea revealed on July 29 its ‘2016 Innovation Plan for Engineering Schools’ during the 85th National Policy Revision Council, presided by Hwang Kyo-ahn, the Prime Minister of South Korea. A ‘junior’ research team consisting of undergraduate students majoring in engineering [...]