Articles by Kan Hyeong-woo
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Kan Hyeong-woo
hwkan@heraldcorp.com-
[Exclusive] SK Pharmteco to invest extra $30m for Irish plant expansion
SK Pharmteco, a global contract development and manufacturing organization under South Korean conglomerate SK Group, will invest an additional $30 million (39 billion won) for the second phase expansion of its subsidiary SK Biotek’s Irish pharmaceutical manufacturing plant, an executive told The Korea Herald. “The total funding over the two phases is expected to be $65 million -- $35 million for phase one and an additional $30 million planned for the second phase expansion,” s
Industry July 3, 2022
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LG Electronics, S.M. Entertainment launch home fitness service
LG Electronics and S.M. Entertainment unveiled on Thursday their joint venture -- Fitness Candy -- to target the home training market by offering digital workout content. The joint venture will have the home appliance maker develop an application, cloud server, online platforms, and necessary devices such as muscle-training equipment, indoor bicycle and smartband for Fitness Candy’s home fitness services. LG's counterpart, S.M. Entertainment will take the charge of providing various cont
Industry June 30, 2022
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Korea approves 1st homegrown COVID-19 vaccine
South Korea has authorized its first homegrown COVID-19 vaccine, finally securing vaccine sovereignty almost 30 months after the pandemic began. The government on Wednesday announced the official approval of SKYCovione, a recombinant protein-based COVID-19 vaccine developed by SK Bioscience, after the final examination committee held a meeting to review the previous assessments earlier in the day. “The Ministry of Food and Drug Safety thoroughly verified safety and efficacy through a t
Technology June 29, 2022
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Helixmith to announce results of Engensis’ second phase 3 clinical trials next month
Local gene therapy biotech firm Helixmith will announce the results of Engensis’ second phase 3 clinical trials for diabetic peripheral neuropathy next month, officials said Tuesday. “We were hoping to announce the results of Engensis’ second phase 3 clinical trials today, but the (independent Data Monitoring Committee) has requested additional data,” said Kim Sun-young, CEO of Helixmith, in a press conference. According to the CEO, the requested documents included En
Technology June 28, 2022
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Korea to invest W24.7tr in science R&D next year
The South Korean government will invest 24.7 trillion won ($19.2 billion) into the country’s research and development efforts in 2023, a 1.7 percent increase on year, the Ministry of Science and ICT said Tuesday. According to the ministry, the R&D budget is focused on the three pillars of strengthening strategic investment for developing core technologies, working towards carbon neutrality and achieving digital transformation. The ministry said it plans to invest a total of 1.1 tri
Technology June 28, 2022
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Korea close to authorizing 1st homemade vaccine
South Korea’s drug regulators are looking to announce the final approval of the country‘s first homegrown COVID-19 vaccine before the end of this week, officials said Monday. According to the Ministry of Food and Drug Safety, the Central Pharmaceutical Affairs Council concluded that SK Bioscience’s request for the approval of SKYCovione‘s biologics license application could be granted in a meeting on the previous day. A total of 23 outside experts and regulatory authori
Technology June 27, 2022
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[Newsmaker] Approval of South Korea’s 1st homegrown vaccine likely next week
South Korea is inching closer to approving its first homegrown vaccine with expectations that the government’s official announcement could come as early as next week. According to pharmaceutical industry sources Friday, the Ministry of Food and Drug Safety has been considering the review process for SK Bioscience’s COVID-19 vaccine candidate GBP510 since the company submitted a request for the approval of its biologics license application under the name “SKYCovione” in
Social Affairs June 24, 2022
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Researchers uncover new cause behind Alzheimer’s memory loss
South Korean researchers have found a new cause behind the memory impairment in Alzheimer’s disease, the Institute for Basic Science said Thursday. The researchers at IBS and Korea Institute for Science and Technology have pinpointed a process, the urea cycle, that takes place in astrocytes, which are star-shaped cells that take up over half of all brain cells. An activated urea cycle aggravated the memory loss in patients with Alzheimer’s disease, according to their study publishe
Technology June 23, 2022
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Nuri’s satellite completes link-up with ground control
Nuri rocket's performance test satellite launched into the Earth’s 700-kilometer orbit has successfully made its first two-way communication with the ground control center, completing the final steps of the launch mission, the Ministry of Science and ICT said Wednesday. According to the ministry, the satellite that was sent into space on the Nuri rocket yesterday made two-way communication with the Korea Aerospace Research Institute’s ground control center in Daejeon at around 3 a.m
Technology June 22, 2022
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Nuri rocket ready to launch Tuesday
South Korea’s homegrown rocket Nuri is ready for blastoff on Tuesday, with hopes to deliver a complete and successful launch this time to officially signal the country’s entrance into the global space race. The Korea Aerospace Research Institute said Monday that Nuri, also known as the Korea Space Launch Vehicle-II, has been erected on the launch pad at Naro Space Center in the southern coastal village of Goheung, South Jeolla Province. “Starting around 11 or 11:30 a.m. tom
Technology June 20, 2022
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FTC could sanction AstraZeneca over alleged collusion
South Korea’s Fair Trade Commission is looking to impose sanctions against AstraZeneca over allegations that the global pharmaceutical firm colluded with a local firm to hinder the launch of cheaper generic drugs. The FTC has recently sent out an audit report to the two drug makers, according to industry sources on Monday. The audit report, which is considered as a prosecutor’s indictment, contained the regulator’s opinion that AstraZeneca provided financial benefits to Alvoge
Social Affairs June 20, 2022
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[Herald Interview] ABL Bio moves up the ranks with $1b Sanofi deal
SAN DIEGO -- Over 250 Korean companies participated in this year’s BIO International Convention, the world’s largest biotechnology industry gathering that took place in person for the first time in three years. Except in the cases of big companies such as Celltrion and Samsung Biologics, most of the small biotech companies were scrapping to present their pipelines and technologies to the global market in hopes that investors and global big pharmaceutical companies will take notice.
Technology June 19, 2022
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KT, Hanmi invest in developer of digital therapeutics
KT and Hanmi Pharmaceutical have jointly invested in digital therapeutics developer Digital Pharm, officials said Sunday. With the investment, KT will be in charge of developing platforms for digital therapeutics, drafting business strategies and providing pipelines. Meanwhile, Hanmi plans to maximize synergetic impact through hospital-specialized marketing and supporting the authorization of digital medical devices. Digital Pharm’s first projects are in digital therapeutics and electro
Technology June 19, 2022
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[Exclusive] Samsung Biologics to join RE100
SAN DIEGO -- Samsung Biologics, the world’s largest contract development and manufacturing organization by production capacity, will join the global RE100 renewable energy initiative as early as next month, a source familiar with the matter said Wednesday. Led by the Climate Group in partnership with CDP, formerly known as Carbon Disclosure Project, the RE100 initiative commits members to using 100 percent renewable electricity. Among the 372 members of the RE100 as of Wednes
Industry June 16, 2022
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Lotte hints at major portfolio shift to expand bio businesses
SAN DIEGO -- Lotte Group, South Korea’s fifth-largest conglomerate, will look to bolster its recently launched bio sector by scaling down the current four main business areas -- chemicals, food, hotels and retail -- and possibly putting one of them up for sale. “Our goal is to grow our bio and health interests into a portfolio that matches our four main portfolios,” Lee Hun-ki, Lotte Holdings’ executive vice president, said in a press meeting near the BIO International
Industry June 15, 2022
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