Celltrion files for phase 3 trial of new cancer biosimilar in US

South Korean biopharmaceutical firm Celltrion said Monday it has submitted an investigational new drug application to the US Food and Drug Administration for a Phase 3 clinical trial of CT-P44, its new biosimilar candidate referencing Darzalex. Darzalex, a targeted cancer therapy, inhibits the growth of myeloma cells by binding to specific surface proteins. The Phase 3 trial will evaluate the pharmacokinetics, efficacy and safety of CT-P44 compared to Darzalex in 486 patients with relapsed or re

Dec. 2, 2024

Samsung Biologics promotes global sales chief after record orders

Samsung Biologics has promoted Kevin Sharp, head of its New Jersey office leading global sales, to executive vice president, largely buoyed by the company's record contract manufacturing orders secured this year. In a management reshuffle Friday, the company promoted Sharp and five other executives to recognize their contribution to Samsung Biologics' larger global market presence. Sharp joined the company in 2017 after 10 years at GlaxoSmithKline in the US, where he served as a pro

Dec. 2, 2024

Samsung Biologics launches charity program to support children

Samsung Biologics has introduced a new charity program designed to assist children in need, in cooperation with neighboring restaurants and retail stores, as part of its ongoing efforts to enhance corporate social responsibility. According to the company, the launch ceremony took place Monday at the company’s headquarters in Songdo, Incheon. The event was attended by Rep. Jung Il-young of the Democratic Party of Korea, John Rim, CEO of Samsung Biologics, Park Jae-sung, head of the company&

Dec. 2, 2024

Morocco promises robust incentives for Korean businesses

Over 100 business leaders and government officials from Morocco and South Korea gathered to explore new business opportunities and enhance bilateral relations between the two nations in Seoul on Thursday evening. The Moroccan Embassy in South Korea hosted an investment forum under the theme “Morocco -- Sustainable Hub for Investment and Trade." Chafik Rachadi, ambassador of Morocco to Korea, emphasized the historical ties and growing partnership between the two nations in his welcomin

Nov. 29, 2024

Posco Group builds 2nd lithium hydroxide plant in Korea

South Korean steel giant Posco Group said Friday it has completed the construction of the second lithium hydroxide plant in Korea, which will drive up domestic production of this key material used in secondary batteries. The new facility, operated by Posco Pilbara Lithium Solutions, a joint venture, is located at the Yulchon Industrial Complex in Gwangyang, South Jeolla Province. It is the second of its kind after the first plant was constructed in November 2023. Each plant can produce 21,500 to

Nov. 29, 2024

Incheon Airport completes expansion to handle 100m passengers annually

Incheon International Airport has completed the fourth-phase facility expansion, establishing itself as a megahub airport capable of accommodating over 100 million passengers annually. The Ministry of Land, Infrastructure and Transport and Incheon International Airport Corporation hosted a grand opening ceremony for the renewed airport at Incheon International Airport's Terminal 2 in Yeongjongdo, Incheon, Friday. “This project is a testament to Korea’s long-term planning,”

Nov. 29, 2024

Lotte heir assumes management role amid liquidity concerns

Shin Yoo-yeol, the eldest son of Lotte Group Chairman Shin Dong-bin, has been promoted to executive vice president of Lotte Corp., the group's holding unit, to oversee the retail giant’s global strategy and speed up its leadership succession plans. Lotte announced a management reshuffle on Thursday, replacing 21 CEOs across its affiliates. Born in 1986, Shin currently leads the future growth division at Lotte Corp. and the global strategy division at Lotte Biologics. He previously ser

Nov. 28, 2024

Hyosung Heavy Industries hits W10tr in circuit breaker production

Hyosung Heavy Industries said Wednesday that it has become the first in the domestic industry to surpass 10 trillion won (about $7 billion) cumulative production value for circuit breakers. The company held a ceremony Tuesday at its Changwon plant in South Gyeongsang Province to mark the achievement. Around 400 Hyosung officials attended, including CEO Woo Tae-hee, Kwon Ki-Yeoung, head of circuit breaker division, and Kim Jin-ho, manager of the Changwon plant. Hyosung started producing circuit b

Nov. 27, 2024

[From the Scene] Inside K-food-themed CU convenience store in Myeong-dong

Located in the bustling shopping district of Myeong-dong, central Seoul, a newly opened CU convenience store offers a curated selection of popular K-foods -- snacks, drinks and ready-to-eat meals -- primarily aimed at attracting international tourists interested in Korean culture. BGF Retail, the operator of CU convenience stores, introduced this branch, on Nov. 20, as the fourth in its series of themed stores. The new store builds on previous "library" themes focused on ramyeon, sna

Nov. 27, 2024

Paris Baguette launches first franchise store in UK

South Korean bakery giant SPC Group said Tuesday it has opened its first Paris Baguette franchise store in the UK, marking its debut in franchising within the European market. Paris Baguette had previously operated company-owned stores in Europe, including France and the UK. The first franchise store, which is Paris Baguette’s third outlet in the UK, is located in Canary Wharf, a financial business district in east London. The Canary Wharf store occupies a 50-seat space on the first floor

Nov. 26, 2024