Saudi Aramco, through its affiliate S-OIL, will construct a new petrochemical cracker in South Korea, the Shaheen petrochemical project, in an effort to maximize its crude to chemicals value chain. The $7 billion-worth Shaheen project in South Korea is expected to change crude oil into petrochemical feedstock and almost double S-OIL’s chemical yield to 25% […]
American LNG company Excelerate Energy has awarded a shipbuilding contract to Hyundai Heavy Industries (HHI) for a new floating regasification and storage unit (FSRU). The vessel has to be delivered by the South Korean shipbuilding company in June 2026. According to Excelerate Energy, the FSRU will be able to store 170,000 m3 of gas. It […]
Naver acquisition of Poshmark : South Korea’s largest internet company Naver is set to acquire US-based social e-commerce marketplace Poshmark in a deal worth $1.2 billion. The transaction includes the purchase of all of the issued and outstanding shares of the NASDAQ-listed Poshmark for $17.9 per share in cash, representing a premium of 15% closing […]
X2M Connect, an Australian Internet of Things (IoT) technology company, has bagged a new water meter monitoring contract worth around AUD 1.13 million from Yeosu City in South Korea. The new award takes the number of enterprise and government customers across X2M Connect to 51, while the number of South Korean municipalities using the Australian […]
SD Biosensor (SDB), an in-vitro diagnostics company, and SJL Partners, a Korean private equity investment manager, in consortium, have signed an all-deal worth around $1.53 billion to acquire Meridian Bioscience. Based in the US and listed on the NASDAQ, Meridian Bioscience provides diagnostic testing solutions and life science raw materials. The integrated life science company […]
SES AI Corporation, a Boston-based battery technology company, has formed a subsidiary called SES Korea with intentions to construct a pre-production facility in South Korea. Established in 2012, SES AI is engaged in developing and manufacturing lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications. After SES Shanghai Giga in China, SES Korea […]
Celltrion Group (Celltrion Healthcare), a South Korean pharma company, has submitted an investigational new drug (IND) application to carry out a global phase 3 clinical trial of an inhaled Covid-19 antibody cocktail therapy made up of regdanvimab (CT-P59) and CT-P63. The late-stage clinical trial will assess the efficacy and safety of the cocktail therapy in […]
Cadila Healthcare (Zydus) said that it has commenced the supplies of ZyCoV-D, the company’s Covid-19 vaccine to the Indian government. The first consignment of the ZyCoV-D vaccine has been delivered already from the company’s newly commissioned Zydus Vaccine Technology Excellence Centre at the Zydus Biotech Park in Changodar, Ahmedabad. It can be noted that Zydus […]
French automobile manufacturer Renault Group has signed an agreement with Chinese automotive group Geely Holding Group to launch a new collaboration aimed at manufacturing fuel-efficient hybrid electric vehicles (HEVs) and internal combustion engine (ICE) models to the South Korean market and for export sales as well. The new vehicles from the partnership will be manufactured […]
ABL Bio has bagged a global collaboration and licensing deal worth up to $1.06 billion with Sanofi to develop and commercialize its drug candidate ABL301 for the treatment of Parkinson’s disease. According to the South Korean biotech firm, ABL301 is a pre-clinical stage bispecific antibody, which targets alpha-synuclein and insulin-like growth factor 1 receptor (IGF1R). […]