Samsung Biologics splits biosimilar business to boost CDMO, investment flexibility

Samsung Biologics, the biotech arm of Samsung Group, announced Thursday that it will spin off its biosimilar operations into a new holding company, separating them from its contract development and manufacturing organization business to sharpen the strategic focus of each unit. Through the structural realignment, Samsung Biologics will concentrate solely on its CDMO business, while the newly created holding company, tentatively called Samsung Epis Holdings, will oversee the biosimilar unit Samsu

May 22, 2025

Fall & fight of star chef Paik Jong-won in 2 minutes

Albeit not Michelin-starred, Korean restaurateur and celebrity chef Paik Jong-won is arguably the country’s most famous culinary figure. Known for his easy-to-follow cooking, built on humor and pragmatism, he has become something of a national uncle, always ready with foolproof recipes. But this year marks a turning point in his uphill career, as he faces a string of setbacks and mounting scrutiny, gradually stepping out of the frame after more than a decade in the media spotlight.

May 19, 2025

Hanwha Hotels finalizes W870b acquisition of Ourhome

Hanwha Hotels & Resorts, the leisure arm of Hanwha Group, has finalized its acquisition of Ourhome, capping a seven-month push to integrate the catering firm and revamp the conglomerate’s food and beverage portfolio. According to the company on Thursday, it has acquired a 58.62 percent stake in the food catering giant for 869.5 billion won ($622 million). Spearheading the acquisition was Kim Dong-seon, vice president of Hanwha Hotels & Resorts and youngest son of Hanwha Group Chairman Kim Seung-

May 15, 2025

Hoban tightens grip on Hanjin KAL, reigniting talk of power struggle

Korean construction giant Hoban Group has raised its stake in Hanjin KAL, the holding company of Korean Air parent Hanjin Group, to over 18 percent, stoking speculation of a looming power struggle as it closes in on the largest shareholder bloc led by the group’s chairman. In a regulatory filing on Monday, Hoban Construction, the group’s construction arm, disclosed that its stake in Hanjin KAL had climbed to 18.46 percent from 17.44 percent. The additional shares were acquired over the past year

May 14, 2025

In every trendsetter's make-up bag, now 3CE is taking on world

To grasp the pulse of South Korea’s trend-sensitive beauty scene, few barometers are more telling than 3CE Stylenanda -- a K-beauty brand where the pink-hued palettes reflect Seoul’s ever-evolving youth culture. In an industry that churns out new beauty brands every season, 3CE has endured since its beginnings in 2004, originally starting as a fashion brand before launching its makeup line in 2009. Even after its 2018 acquisition by French cosmetics giant L'Oreal for roughly 600 billion won ($43

May 13, 2025

Samyang Foods' stock tops W1m on Buldak boom

Shares of Samyang Foods surged past 1 million won ($715) on Monday, hitting an all-time high on the back of strong global demand for its fiery Buldak noodles. The stock opened at 1,001,000 won per share, up 0.81 percent from Friday’s close, briefly touching 1,004,000 won in premarket trading on Nextrade. Yet, profit-taking reversed earlier gains, with the stock ending the day down 4.73 percent at 946,000 won. The milestone puts the noodle maker among a rare group of Korean firms with seven-figur

May 12, 2025

CU makes convenience global with new visa service

As convenience chains work to redefine their role as lifestyle hubs here, CU is pushing ahead with services aimed squarely at the country’s expanding population of foreign nationals. Among the most recent additions is CU’s in-store visa support service, launched this month, which links customers with local visa service provider K-Visa. CU is the first convenience store chain in the country to offer such a service. Foreign customers can access the service by scanning a QR code, which connects the

May 11, 2025

Coupang targets expat shoppers with English app service

South Korean e-commerce giant Coupang has rolled out a beta version of its English-language interface on its mobile app, in a bid to improve accessibility for the growing population of residents here who have difficulty using the app in Korean. According to the company on Sunday, the English service enables users to browse and search for products, review detailed descriptions and complete purchases, all in English. The company explained that a dedicated translation team reviews and refines the E

May 11, 2025

[Photo News] AmCham, KCCI, GM Korea to boost business ties

From left: James Kim, chairman & CEO of the American Chamber of Commerce in Korea; Chey Tae-won, chairman of SK Group and the head of the Korea Chamber of Commerce and Industry; Hector Villarreal, president & CEO of General Motors Korea, pose for a photo during the signing of a tripartite memorandum of understanding to promote the “Buy America” campaign. The AmCham-led campaign pledges mutual cooperation among all parties to expand consumer access to GM vehicles in Korea, promote the purchase of

May 8, 2025

CJ CheilJedang expands in Japan with new dumpling plant

South Korean food giant CJ CheilJedang announced Thursday that it is building a new factory in Japan to expand production of its dumpling products, part of a broader strategic push to tap into Japan’s growing appetite for Korean cuisine. Backed by a 100 billion won ($71.5 million) investment, the facility, now under construction in Chiba prefecture, sits on a 42,000-square-meter site -- roughly the size of six soccer fields -- with a total floor area of 8,200 square meters. Scheduled to begin op

May 8, 2025