Samsung Biologics opens 1st overseas CDO at heart of San Francisco biotech hub

Biopharmaceutical firm Samsung Biologics unveiled its first research and development center for contract development in the biotechnology hub in southern San Francisco on Thursday. The contract development organization is designed to serve clients -- mostly biopharmaceutical firms there -- to offer them services for their development of treatments for illnesses such as cancer, rheumatoid arthritis immunotherapy and treatment for neurodegenerative diseases such as Alzheimer’s disease and P

Local fintech startup unveils Korea’s first commercial system to rule out naked short selling

A local startup on Oct. 28 unveiled the nation‘s first commercial securities lending system targeting institutional investors at home and abroad to help them prevent errors that can lead to naked short selling activities against the law, often unintended. 　TruWeb, new securities lending platform developed by financial technology startup Tru Technologies, allows an institutional investor -- investment banks or brokerage firms -- to take advantage of automated process when making arrangemen

Kakao’s financial subsidiaries gear up for 2021 IPOs

Two financial subsidiaries of South Korean mobile messenger giant Kakao are taking a step toward initial public offerings next year, picking up an additional underwriter and securing investments from a global private equity fund, according to local investment banking sources on Oct. 27. Kakao Pay, set for an IPO during the first half of next year, has chosen Goldman Sachs as one of its underwriters, while KB Securities selected an underwriter last month, the officials said. The details of the

Hanwha Asset gains PFM license for mainland China

　Hanwha Asset Management said on Oct. 27 its wholly owned Chinese unit has been granted a private fund management license for mainland China. 　A PFM license, approved by the Asset Management Association of China, allows foreign asset managers to create and sell funds investing in onshore stocks and bonds in China to local institutional and wealthy investors. 　This comes four years after South Korea’s third-largest asset management company with over 93 trillion won ($82 billion) in ass

Verivery goes beyond the barrier, makes inroads on Billboard

Verivery thanked fans for celebrating the band’s milestone Billboard debut during an interview with The Korea Herald on Tuesday. With “G.B.T.G,” the lead track on its new album “Face Us,” the seven-piece act landed atop Billboard’s World Digital Song Sales chart earlier that day, making inroads on the American music chart for the first time since its debut last year. “We really did not expect this. We feel numbed,” band leader Dongheon said. &

‘Our model is to continue to invest in journalism’

International president of the New York Times Stephen Dunbar-Johnson shines light on company’s digital success

Are you up for 24 hours of nonstop classical music?

The House Concert to present a full-day run of classical music from 5 p.m. Friday to 5 p.m. Saturday

Glimpse into future of AI that talks fluently

Atlas Labs vows to challenge tech giants with AI-powered voice call application

Biden will be more rigorous on North Korea, experts say

Biden likely to seek stronger trilateral cooperation with Seoul, Tokyo; may take realistic approach on NK nukes

Moon says 2021 budget will lay grounds for ‘leading economy’

President Moon Jae-in on Wednesday pledged to focus on economic recovery, and to forge ahead with the Korean New Deal in order to reinvent Korea as a “leading economy.” “The 2021 budget bill the government is submitting is a budget for ‘overcoming the era of crisis to rise as a leading nation,’” Moon said. “The priority is given to quickly overcoming the crisis to support people’s livelihoods, and to achieve rapid and strong economic recovery. I

Koreas to see population gap narrow

Data forecasts minus 6 million in South, plus 600,000 in North by 2055

What would 2nd Trump term mean for Korea?

In September during the first televised presidential debate of the election season, US President Donald Trump said “elections have consequences.” 　 His remark holds true not only to Americans, but to countries around the world closely watching the US election and trying to determine what the outcome will mean for them. 　 South Korea is no exception. As a key Washington ally from security to trade and North Korea diplomacy, Seoul has a lot at stake depending on who controls the Whi