Homeplus takes another shot at revival

Homeplus said Monday it has filed an appeal with the Seoul Bankruptcy Court against the latter's decision to terminate the retailer's corporate rehabilitation proceedings as it had secured enough funding to continue the restructuring process last week. The court previously decided to end Homeplus' rehabilitation proceedings on July 3, citing a lack of operating funds while adding that it would reconsider its decision if the retailer could secure 200 billion won ($135 million) in working capital.

2026-07-20 17:12:20:00

Samsung Biologics expands into peptides with $1.8b PolyPeptide deal

Samsung Biologics said Monday it has launched a $1.8 billion all-cash bid to acquire 100 percent of PolyPeptide, entering the peptide sector to bolster its multi-modality and global manufacturing capabilities. The transaction is expected to be completed by the end of this year to mark the biggest takeover in the history of Korea’s biopharmaceutical industry, according to the company, which is Korea’s leading contract development and manufacturing organization, or CDMO. As PolyPeptide's shares ar

2026-07-20 14:57:59:00

Coupang dispute looms over Korea-US shipbuilding talks

When Industry Minister Kim Jung-kwan heads to Washington later this week, the growing dispute over Coupang is expected to emerge as a key issue alongside shipbuilding cooperation in his meetings with senior US officials. According to reports on Sunday, Kim will travel to Washington to attend the opening ceremony of the Korea-US Shipbuilding Partnership Center on Thursday. US Commerce Secretary Howard Lutnick is forecast to take part in the event. While the official agenda is projected to cover e

2026-07-19 14:52:33:00

APR flaunts smart manufacturing, logistics to Amazon

Korean beauty firm APR said Sunday that key executives of Fulfillment by Amazon, or FBA, recently visited its manufacturing and logistics facilities featuring automated technologies in Pyeongtaek, Gyeonggi Province, amid the increasing demand for Korean beauty products across the globe. According to APR, the FBA delegation led by Piyush Saraogi, vice president in charge of FBA’s worldwide business, took a tour of APR Factory Campus 2 and checked out the site’s surface mount technology, assembly

2026-07-19 11:25:03:00

FDA hurdle cleared for liver cancer drug application: HLB

HLB said Wednesday it received a Voluntary Action Indicated notice from the US Food and Drug Administration after the American authorities had conducted an on-site inspection of the Chinese production site for liver cancer therapy candidate Rivoceranib, reigniting the hopes of getting the FDA’s greenlight for the anti-cancer treatment. HLB's US subsidiary Elevar Therapeutics received a close-out letter from the FDA regarding the current Good Manufacturing Practice, or cGMP, inspection at its par

2026-07-15 15:00:04:00

Lotte chief calls for return to fundamentals

Lotte Group Chairman Shin Dong-bin on Wednesday urged the conglomerate's top executives to bolster each affiliate's fundamental businesses to ignite new growth, stressing the importance of returning to the basics. Chairing Lotte's half-yearly value creation meeting of top leadership across all Lotte affiliates at the Lotte World Tower in Seoul, Shin noted that the market's assessment of Lotte firms remains "cold-hearted" despite overall earnings improvement across the conglomerate in the first h

2026-07-15 11:58:24:00

China plays for control in Korean gaming

For years, Chinese investment in South Korea's gaming industry followed a familiar formula. Chinese technology giants provided capital, secured publishing partnerships and accumulated minority stakes in leading game makers, while Korean founders of each game developer retained management control. This pattern, however, recently took a vigilant turn, putting stakeholders on notice. Wemade — a Korean game developer best known for its massively multiplayer online role-playing game, or MMORPG, franc

2026-07-14 15:53:16:00

Daewoo E&C eyes bigger presence in Indonesia

Daewoo Engineering & Construction has doubled down on expanding its presence in Indonesia by developing a small modular reactor, a liquefied natural gas terminal and an artificial intelligence data center. According to the Korean builder on Monday, Daewoo E&C Chairman Jung Won-ju met key senior government officials, lawmakers and business leaders to discuss cooperation during his five-day trip to Indonesia last week. During his meetings with Sugeng Suparwoto, chair of Indonesia's House Commissio

2026-07-13 15:08:01:00

Otoki bets W200b on global ramyeon demand

Otoki Ramyon, the instant noodle manufacturing affiliate of Korean food company Otoki, said Monday it would invest 200 billion won ($133 million) to build a new export-dedicated production facility in Gumi, North Gyeongsang Province, to cope with increasing global demand for Korean instant noodles. Under a memorandum of understanding with the local governments of Gumi and North Gyeongsang Province, Otoki Ramyon said it will create 120 new jobs as it aims to complete the construction of the new f

2026-07-13 13:43:01:00

Korea's next drug lab is in orbit

Korea's space industry, which has been dominated by rockets and satellites up until now, is gearing up to welcome a relatively new type of partner — drugmakers. As microgravity in space allows proteins to grow into larger and more uniform crystals, it helps scientists better understand the three-dimensional structures of disease-related proteins. This helps drug discovery by giving an accurate picture of what shape drug molecules have to be in order to function. Microgravity can accelerate biolo

2026-07-12 11:14:10:00