Hanwha Aerospace ends $320m eVTOL supply deal with Vertical Aerospace

Hanwha Aerospace has terminated a 454.8 billion won ($319 million) contract with UK-based electric vertical takeoff and landing, or eVTOL, aircraft developer Vertical Aerospace, ending a four-year partnership that had been considered one of the former's major urban air mobility projects. According to Hanwha Aerospace's regulatory filing on Monday, it had canceled its agreement with Vertical Aerospace covering the development and supply of electromechanical actuators, or EMAs, and tilting and bla

2026-08-03 19:53:53:00

Bithumb targets 2028 IPO with governance overhaul

Korean cryptocurrency exchange Bithumb on Monday unveiled a detailed roadmap for its planned initial public offering by 2028, underlining that the listing process would be used to strengthen corporate governance and financial transparency. According to the company, its IPO roadmap consists of three phases. The first phase, which is scheduled for this year, focuses on upgrading internal control systems and preparing for the adoption of Korean International Financial Reporting Standards to be on p

2026-08-03 19:43:02:00

Hanwha launches new holding firm under Kim Dong-seon

Hanwha Group launched Hanwha Machinery & Services Holdings on Monday, placing 57 technology and lifestyle affiliates under a new holding company whose future strategy will be led by Kim Dong-seon, the group chairman's youngest son. Hanwha M&S is scheduled to debut on the Kospi on Aug. 25, following its corporate split from Hanwha Corp., which shareholders approved last month. The holding company's technology portfolio includes Hanwha Vision, Hanwha Semitech, Hanwha Momentum and Hanwha Robotics.

2026-08-03 14:27:12:00

Matica Bio zeroes in on bridging global biotech with Korea

Matica Biotechnology is positioning Korea as a strategic destination for investigator-initiated trials, or IITs, by offering an integrated platform that combines manufacturing, clinical development and regulatory support. The move comes as global drugmakers are diversifying manufacturing and clinical development away from China amid rising geopolitical tensions. According to Matica Biotechnology — the US-based contract development and manufacturing subsidiary of Korea’s Cha Biotech — on Sunday,

2026-08-02 14:21:08:00

Lotte woos UNESCO delegations in Busan with Korean snacks

Lotte Wellfood said Sunday it had showcased its flagship snacks to thousands of international delegates during the 48th session of the UNESCO World Heritage Committee in Busan last month, leveraging the global gathering as a platform to promote both Korean food and the country's cultural heritage. Throughout the event, held at the Busan Exhibition and Convention Center from July 19 to 29, Lotte Wellfood offered its signature products such as Pepero and Zec in the delegates' lounge. More than 3,0

2026-08-02 11:47:25:00

NC ramps up global expansion at Gamescom, Tokyo Game Show

NC is expanding its worldwide reach at two of the world’s biggest gaming exhibitions in the second half of the year with Aion 2, a massively multiplayer online role-playing game, and Astrae Oratio, a sub-culture RPG. According to the Korean game company on Thursday, it will participate in Gamescom 2026 in Germany in August and Tokyo Game Show 2026 in Japan in September, highlighting region-specific titles aimed at Western and Japanese audiences, respectively. Held annually in Cologne, Germany, G

2026-07-30 14:14:43:00

Daewoong's botulinum toxin Nabota enters Kuwait

Daewoong Pharmaceutical's botulinum toxin brand Nabota has entered Kuwait, expanding its presence to seven Middle Eastern markets while setting a record among Korean botulinum toxin makers in the region. According to Daewoong Pharmaceutical on Thursday, it began supplying Nabota to Kuwait earlier this month on top of its existing market lineup of Saudi Arabia, the United Arab Emirates, Turkiye, Qatar, Egypt and Bahrain in the Middle East. With the latest expansion, Daewoong underscored that Nabo

2026-07-30 13:50:15:00

Krafton posts record half-year earnings on Subnautica 2 success

Krafton on Wednesday reported record revenue and operating profit for the first half of this year on the back of continued performances by its megahit PUBG franchise, a battle-royale-style shooter, and the early success of Subnautica 2, an underwater survival adventure. According to the company’s preliminary earnings, Krafton logged 2.66 trillion won ($1.84 billion) in sales and 972.5 billion won in operating profit in the first six months of 2026, up 73.3 percent and 38.3 percent, respectively,

2026-07-29 17:29:55:00

Celltrion to unveil obesity drug milestone before year-end

Celltrion said Wednesday it expects a series of key research and clinical milestones over the next year. Preclinical data for its next-generation obesity treatment is due later this year, and initial clinical results from several oncology drug candidates are scheduled for the first half of next year. According to Celltrion, it plans to disclose preclinical findings for its world's first quad-agonist obesity drug candidate CT-G32 in November and submit an investigational new drug, or IND, applica

2026-07-29 14:43:31:00

SK Biopharm expands Latin America push with Brazil launch

SK Biopharmaceuticals said Wednesday it is accelerating its expansion into Latin America by launching its epilepsy treatment Cenobamate in Brazil, as the firm's CEO joined South Korean President Lee Jae Myung's economic delegation for the first time. The only representative from Korea's pharmaceutical and biotechnology industry to participate in the presidential economic delegation to Brazil, SK Biopharmaceuticals signed a memorandum of understanding with Eurofarma, a local pharmaceutical powerh

2026-07-29 14:19:48:00