GE bagged an order in mid-January 2021 to deliver power generation equipment with a capacity of over 1GW for the Tongyeong power plant in South Korea. The Tongyeong combined cycle power plant is owned by Tongyeong Eco Power, an independent power producer in South Korea. As per the contract, GE will supply a couple of […]
SK Hynix, a South Korean semiconductor company, has agreed to acquire Intel’s NAND memory and storage business for $9 billion. The deal includes the NAND SSD business, the NAND component, and wafer business, along with the Dalian NAND memory manufacturing facility in China. However, Intel will retain its Intel Optane business. SK Hynix by acquiring […]
OliX Pharmaceuticals, a South Korean pharma company, has submitted an investigational new drug (IND) application to the US Food and Drug Administration (FDA) seeking its consent to begin a phase 2a clinical trial for OLX10010 in reducing the recurrence of hypertrophic scars after scar revision surgery. The developer of RNAi therapeutics intends to assess the […]
SK Biopharmaceuticals, a South Korean pharma company, has revealed plans to initiate a phase 3 clinical trial for its FDA-approved seizures drug cenobamate in Asia. Cenobamate was approved by the US Food and Drug Administration as an anti-seizure medication (ASM) under the brand name XCOPRI for the treatment of partial-onset seizures in adults. (Read here […]
South Korean automotive manufacturer Kia Motors has unveiled a new compact SUV called the Kia Sonet, which will be manufactured at its production facility at Anantapur in the Southern Indian state of Andhra Pradesh. Kia Sonet, which marks the foray of Kia Motors into the compact SUV segment, will be available with multiple powertrain options […]
Celltrion Group, a South Korean pharma company, has launched a phase 1 human clinical trial of a potential antiviral antibody treatment for COVID-19 patients. The in-human study of the COVID-19 antiviral antibody comes in the wake of the positive results delivered by it in pre-clinical studies and the following approval of the investigational new drug […]
South Korean telecommunications company KT has agreed to acquire a stake of 10% in Hyundai Robotics for KRW50 billion ($41 million) as part of a move to accelerate collaboration for digital transformation based on 5G, artificial intelligence (AI) and smart factory. Hyundai Robotics was launched in May 2020 as a new subsidiary company of South […]
Vietnamese dairy company Vinamilk has launched its soymilk and milk tea products in South Korea as part of its expansion strategy in the country. Vinamilk’s soymilk, which has been launched in multiple variants such as almond, walnut, and red bean, along with milk tea are distributed by the company’s local partner – Vina Korea. Customers […]
Qatar Petroleum has signed deals worth more than QAR70bn ($19.23bn) with three South Korean LNG shipbuilders to build liquefied natural gas carriers (LNG carriers). Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI) are the three Korean shipyards which will reserve a major portion of their LNG ship construction […]
US insurance giant Prudential Financial has signed a deal worth around 2.3 trillion won ($1.9 billion) to sell The Prudential Life Insurance Company of Korea (Prudential of Korea) to Korean financial services provider KB Financial Group. Founded in 1989, Prudential of Korea provides life insurance and other protection products through its Life Planner business and […]