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The Korea Herald

Companies

November 25, 2019
No. of new companies dips in Jan.-Sept.

The number of newly established firms in South Korea fell nearly 7 percent in the first nine months of the year on a one-off factor, data showed Nov. 25. A total of 945,322 new businesses were set up in the January-September period, down 6.7 percent from a year earlier, according to the data fr...
November 25, 2019
Air New Zealand begins services to S. Korea

Air New Zealand on Nov. 25 began flight services to South Korea to absorb growing travel demand from Asia’s fourth-biggest economy. On Nov. 23 (local time), Air New Zealand flight NZ75 departed Auckland International Airport for Seoul’s Incheon International Airport for the first time in more...
November 25, 2019
SK Biopharma to raise at least W5tr in IPO

South Korean drug firm SK Biopharmaceuticals is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Nov. 25. The company said that XCOPRI has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in ad...
November 25, 2019
Samsung Heavy wins $1.5b LNG ship order

Samsung Heavy Industries, the world’s second-biggest shipbuilder by orders, said Nov. 25 it has received a $1.5 billion LNG carrier order. Under the deal with an unidentified client in the Eurasian region, Samsung will build the LNG carrier by September 2022, the company said in a regulatory f...
November 25, 2019
BMW Korea hosts event for suppliers

German-based luxury carmaker BMW Korea announced on Nov. 21 that it has hosted the “BMW Group Supplier Day 2019” event at the Grand Hyatt in Incheon. According to the company, it decided to host the event to take some time to appreciate its suppliers from diverse field’s cooperation and also sh...
November 24, 2019
Korea’s memory industry to start recovering in 2020

After a brutal downturn this year, South Korea’s memory chip industry is expected to start recovering in 2020, led by growth in demand for 5G-enabled devices and the resumption of investments in data centers, according to industry observers on Nov. 24. “The fundamentals of the semiconductor indu...
November 24, 2019
New Grandeur boasts bolder, younger, sportier look

Hyundai Motor’s flagship full-size sedan Grandeur has been positioned as a luxurious car for the older generation and those of high social status in their late 40s and 50s in Korea. But with the New Grandeur, the automaker has transformed itself, seeking to target those in their early 40s and enc...
November 22, 2019
Bridge Biotherapeutics plans expansion after IPO

South Korean biotech firm Bridge Biotherapeutics CEO Lee Jung-kyu announced Nov. 22 that the company plans to expand further after going public in December. The company expects to be listed on the second-tier Kosdaq market. “We hope to become a global biotech company by advancing both our busine...
November 22, 2019
Hyundai to launch Lafesta EV in China next year

Hyundai Motor said Nov. 22 it will launch the Lafesta electric vehicle in China next year. The company unveiled the Lafesta sedan at the 17th China Guangzhou International Automobile Exhibition that opened on Friday and lasts through Dec. 1, along with dozens of other environment-friendly vehic...
November 22, 2019
SK Biopharma’s anti-epileptic drug wins FDA approval

SK Biopharmaceuticals said Nov. 22 its anti-epileptic drug has won approval from the US Food and Drug Administration. The company said the FDA granted approval of XCOPRI, or cenobamate tablets, for the treatment of partial-onset seizures in adults. This is the first time a South Korean phar...
November 21, 2019
Unison Capital invests W35b in online shopping mall operator Sappun

Private equity firm Unison Capital announced on Nov. 21 that it will buy a 60 percent stake in local online shoe shopping mall operator Sappun for 35 billion won ($29.7 million). Sappun’s corporate value is estimated to be around 60 billion won. The two companies will sign a stock purchase agree...
November 21, 2019
FDA commences review of Samsung Bioepis’ biosimilar SB8 for sales in US

South Korea’s Samsung Bioepis said Nov. 20 that the US Food and Drug Administration has started reviewing its application for sales of SB8, a proposed biosimilar referencing Avastin. Samsung Group’s biosimilar development unit had applied for FDA’s marketing approval in September. Avastin is a...
November 21, 2019
Samsung SDI wins EV battery supply deal from BMW

Samsung SDI has signed a 2.9 billion euros ($3.2 billion) deal with BMW to supply EV battery cells, the German automaker’s Korean unit said Nov. 21. BMW Chief Purchasing Officer Andreas Wendt signed the agreement with Samsung SDI for the deal in Seoul, according to BMW Group Korea. Under t...
November 21, 2019
Hyundai unveils Vision T SUV concept at LA Auto Show

South Korean carmaker Hyundai Motor said Nov. 21 it has unveiled its Vision T SUV concept at the Los Angeles Auto Show. The unveiling of the SUV concept is in line with Hyundai Motor’s stepped-up efforts to strengthen its SUV lineup amid rising demand for recreational vehicles. Hyundai app...
November 21, 2019
Kia launches all-new K5 in S. Korea

Kia Motors on Nov.21 launched its all-new K5 sedan in the domestic market to boost sales. The third-generation K5 midsize sedan is available in four trims: a 2.0-liter gasoline, a 1.6-liter turbocharged gasoline, a 2.0-liter LPi and a 2.0-liter gasoline hybrid engine models, with Kia taking ord...

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