Articles by Kan Hyeong-woo
Kan Hyeong-woo
hwkan@heraldcorp.com-
Kakao to build S. Korea’s 1st K-pop arena in Seoul
South Korean IT giant Kakao and the Seoul Metropolitan Government have signed an agreement to build the country’s first and largest arena dedicated to staging K-pop performances, officials said Monday. Called Seoul Arena, the multicultural complex will begin construction in June and is expected to be completed in October 2025. Seoul Arena will be built in Seoul’s northern Dobong-gu and will be capable of accommodating more than 20,000 concertgoers for a single event. According to
Social Affairs April 4, 2022
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Medytox files complaint with ITC against Hugel over botox dispute
South Korean botox maker Medytox has filed a complaint with the US International Trade Commission against its local rival Hugel over allegations of stealing its bacteria and manufacturing processes, the company said Friday. According to Medytox, the company lodged the complaint on Wednesday against Hugel, Hugel America and Croma-Pharma GmbH with top global law firm Quinn Emanuel Urquhart & Sullivan leading the litigation. Croma-Pharma, an Austrian family-owned company based on north of Vie
Industry April 1, 2022
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[Weekender] Rise of never-aging young women in Korea
South Korea’s entertainment and commercial fields have seen a rise of beautiful, multi-talented young women capable of doing almost everything -- from acting to fashion design. Despite being in their early 20s, they display impeccable skills and give performances that exceed human expectations. They have no stress, no sleep and no scandals. Though they are labeled as perfect human beings, they have their own limits. They are not actual people, but virtual humans produced by cutting-edge co
Technology March 31, 2022
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SK Bioscience CEO says financing ready for M&As
SK Bioscience will look to spend “trillions of won” on aggressive mergers and acquisitions in taking the next step to become a vaccine and bio powerhouse, CEO Ahn Jae-yong said Thursday. “We will secure more funding through the assets compiled with the (initial public offering), operating cash and additional acquisition financing,” he said in an online press conference to mark the company’s one-year anniversary of going public. “We will use the funding on
Technology March 31, 2022
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'AI technology to halve new drug development period'
The technology of artificial intelligence will be used in every step of developing drugs to cut the time it takes to discover a new drug in half, the newly appointed leader of the Korea AI Center for Drug Discovery and Development said Wednesday. “Starting from designing candidate substances, AI technology can set up clinical trials based on biometric data and minimize uncertainty, time and cost by deriving the optimal patient group,” said Kim Woo-youn, head of KAICD at the Korea P
Technology March 30, 2022
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Cha Medical to build world’s largest CGT manufacturing facility
Cha Medical and Bio Group has officially begun the construction of Cell Gene Biobank, which is expected to be world’s largest single facility in the business of contract development and manufacturing organization for cell and gene therapy, the company said Wednesday. According to the company, it has invested 300 billion won ($248 million) into building CGB that features 10 stories above ground and four below ground to cover a total floor area of 66,115 square meters in Pangyo, Gyeonggi P
Industry March 30, 2022
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Samsung Bioepis buyout to bolster Samsung Biologics’ portfolio: CEO
INCHEON -- With the buyout of Samsung Bioepis’ stake, Samsung Biologics will become a global bio company based on the three pillars of contract development and manufacturing, biosimilars and new drugs, CEO John Rim said Tuesday. “Through issuing new stocks to raise about 3 trillion won ($2.46 billion) this year, we will take a full-fledged leap into becoming a global comprehensive bio company and lay the groundwork for sustainable growth,” said Rim during the company’s
Industry March 29, 2022
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Land Ministry eyes zero-tolerance rules for construction negligence
In the wake of the collapse of an HDC Hyundai Development apartment building under construction in Gwangju in January, the government is pushing for legislation that would allow it to hand out stronger penalties against companies for poor construction. The Ministry of Land, Infrastructure and Transport on Monday revealed plans for a “one-strike, you’re out” policy that would allow authorities to rescind the company’s construction license if three or more people die as a
Social Affairs March 28, 2022
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Hanwha chief, Pence discuss Korea-US ties
Hanwha Group Chairman Kim Seung-youn met former US Vice President Mike Pence in Seoul last week and discussed a wide range of issues centering on bilateral ties between South Korea and the US, and the growing geopolitical uncertainty over the Ukraine war. On the war in Ukraine, Kim pointed out that companies are going through a rough time due to the economic crisis caused by international conflicts. He also asked Pence to share his thoughts about how global leaders can solve the problems that t
Industry March 27, 2022
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Posco’s sustainability recognized by World Steel Association
South Korean steelmaker Posco has been recognized for its sustainability efforts by the World Steel Association, the company said Sunday. The World Steel Association, also known as worldsteel, has picked as Posco as one of the 39 sustainability charter members which proactively embraces the sustainability principles of the steel industry, according to the South Korean steel giant. A total of 142 companies and associations across the world are members of worldsteel. The recognition of the sus
Industry March 27, 2022
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SK Biopharmaceuticals working on seizure detection device: CEO
SK Biopharmaceuticals is in the process of developing a new device that can record brain activities to sense signs of seizure as part of the company’s efforts in strengthening its digital therapeutics, CEO Cho Jeong-woo said Thursday. “The drive for digital therapeutics means that we are working on developing AI-driven platforms for new drugs based on the data that we have compiled over the last 30 years of our expertise in (central nervous system),” said Cho in an online pre
Industry March 24, 2022
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Nearly 1 in 4 Koreans diagnosed with smartphone overdependence
Nearly a quarter of the South Korean public are dangerously reliant on smartphones, with almost 40 percent of the country’s youth diagnosed with smartphone overdependence, the Ministry of ICT and Science said Thursday. According to the ministry’s survey on the country’s digital divide and overdependence on smartphones, 24.2 percent of 10,000 households nationwide fell under the category of smartphone overdependence, up 0.9 percentage points on year. The ministry divided the
Social Affairs March 24, 2022
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S. Korea approves 2nd COVID-19 pill Lagevrio
The South Korean government has approved the emergency use of anti-COVID-19 pill Lagevrio, the Ministry of Food and Drug Safety said Wednesday. The medicine, co-developed by US pharmaceutical company MSD and Ridgeback Biotherapeutics, is the second anti-coronavirus pill to be authorized by the country’s health officials, following the approval of Pfizer’s antiviral drug Paxlovid in December. Amid the surging number of COVID-19 cases, the ministry said the approval decision was ma
Social Affairs March 23, 2022
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Nexon launches Dungeon & Fighter Mobile
South Korean gaming giant Nexon will launch Dungeon & Fighter Mobile -- the latest title of the developer’s megahit intellectual property -- on Thursday, the company said Wednesday. Similar to the PC version, the mobile title is a fast-paced 2D anime-styled side scrolling action game combined with elements of role-playing games and based on a continuously developing storyline. Dungeon & Fighter is one of Nexon’s most popular franchises as the PC version has 850 million re
Industry March 23, 2022
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[Newsmaker] Naver's new CEO all-in on going global
Naver will become an incubator that creates innovative technology penetrating the global market and seek to go beyond providing services that are popular today, the company’s new CEO said Monday. “Not only all businesses owned by Naver began with the thought of going global from the start, but all of the objectives also point to going global,” Naver CEO Choi Soo-yeon said at a meeting with shareholders and board of directors where she was appointed as the new chief. The IT g
Industry March 14, 2022
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