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Wednesday, November 22, 2017

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The authorization of Ontruzant in Europe made Samsung Bioepis the company with World’s largest number of biosimilars.

Company with Largest Number of Biosimilars

21 November 2017 - 12:15pm
Choi Mun-hee

'Ontruzant' (ingredient name: trastuzumab, project name: SB3), an anti-cancer drug developed by Samsung Bioepis, received the European Commission (EC)’s marketing authorization for the first time as a biosimilar referencing Herceptin. 

On November 20, Samsung Bioepis announced the European Commission (EC)’s marketing authorization of Ontruzant, an anti-cancer biosimilar.

Ontruzant is a biosimilar referencing Herceptin (trastuzumab) of multinational pharmaceutical company Roche based in Switzerland, for the treatment of early breast cancer, metastatic breast cancer and...

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Lotte Engineering and Construction (E&C) received the largest number of demerit points over the past three years.

Builders Receiving Penalties

21 November 2017 - 12:00pm
Michael Herh

The construction company that received the largest number of demerit points over the past three years due to shoddy construction work was Lotte Engineering and Construction (E&C). Although POSCO Engineering and Construction (E&C) received lower penalty points than Lotte E&C but recorded the most demerit mark cases. 

On November 13, Minjoo Party lawmaker Lee Won-wook who belongs to the National Land Transportation Committee of the National Assembly, disclosed the top 10 construction companies that received the largest number of demerit points for shoddy construction...

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Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-yeon assaulted lawyers while drunken in September this year

Need to Teach Noblesse Oblige

21 November 2017 - 12:00pm
Jung Min-hee

It was belatedly known that Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-yeon assaulted others once again while drunken in September this year. Kim, who had gone on a drunken rampage in a bar in Gangnam-gu, Seoul early this year, faced criticisms of public opinions in a similar incident after less than a year. 

According to the Korean business world and many media reports, Kim Dong-seon attended a social gathering with about 10 lawyers of a large law firm in a bar in Jongno-gu, Seoul, in late September. Kim Dong-seon was known to have attended the meeting via one...

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Korea’s Lee Kun-hee family (Samsung family) stepped down to the second place on the Forbes list of Asia’s richest families this year from the top position last year.

Having US$40.8 Billion

21 November 2017 - 11:45am
Lee Song-hoon

India’s Ambani family came in first on the Forbes list of Asia’s richest families this year, steeping down Korea’s Lee Kun-hee family (Samsung family) to the second place from the top position last year. The annual list consists of families continuing to do business for at least three generations. 

The Ambani family is the owner of the Reliance Group, whose scope of business includes oil refining, chemical, finance and telecom. The family’s assets totaled US$44.8 billion as of November 3. 

South Korea’s Lee Kun-hee family came in second with US$40.8 billion. The owners of the...

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Hyundai Motor’s next-generation FE fuel-cell electric vehicle.

Regaining Market Leadership

21 November 2017 - 11:30am
Jung Min-hee

Hyundai Motor and its smaller affiliate Kia Motors will regain the leadership in the fuel cell electric vehicle (FCEV) market from Toyota. Hyundai Motor is planning to mass produce hydrogen powered cars in the first half of next year, while Kia Motors also has a plan to mass produce FECVs based on the Sorento.

According to industry sources on November 20, Kia Motors plans to mass produce hydrogen powered cars based on follow-up models of the Sorento s at the end of 2020. The company is still considering the exact amount of production but it is expected to be about the same level of...

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Samsung Electro-Mechanics India will be established in Bengaluru, which is referred to as the "Silicon Valley of India,"

Improving High-end Component Competitiveness

21 November 2017 - 11:15am
Jung Min-hee

Samsung Electro-Mechanics announced on November 20 that it is discussing with a local government office for procedures to establish its subsidiary in India next January. As the company’s local office has been increased in size since the opening in 2001, it needs to set up a subsidiary there. 

Samsung Electro-Mechanics India will be established in Bengaluru, which is referred to as the "Silicon Valley of India," and its recruitment process is under way. The local office currently has about 70 employees. Samsung Electro-Mechanics’ R&D office in India is in charge of developing...

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Samsung Engineering applied for dispute arbitration at the ICSID over the Yanbu 3 Power and Seawater Desalination Plant project of Saudi Arabia on November 10.

Applying for ISDS

21 November 2017 - 11:00am
Jung Min-hee

It was confirmed that Samsung Engineering applied for an investor state dispute settlement (ISDS) against the Saudi Arabian government. 

According to Samsung Engineering and the International Center for Settlement of Investment Disputes (ICSID) of the World Bank on November 19, Samsung Engineering applied for dispute arbitration at the ICSID over the Yanbu 3 Power and Seawater Desalination Plant project of Saudi Arabia on November 10. The legal action targets the Saudi government. 

The ISDS is a system to apply for arbitration with an international civil arbitration body...

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The location of the Mumbai Maritime Bridge project site in Mumbai, India, for which Daewoo E&C received a letter of acceptance (LOA) on November 17 (local time).

Even in the Merger Process

21 November 2017 - 11:00am
Michael Herh

Daewoo E&C announced that the builder received a letter of acceptance (LOA) on the second package of the Mumbai Maritime Bridge project in Mumbai, India on November 17 (local time).

Daewoo E&C said that the Korea-based global contractor won the second package of the Mumbai Maritime Bridge project with a joint venture with Tata Projects Limited, a construction subsidiary of the Tata Group, one of India's largest business groups. The second package will cost US$ 863 million, and the entire Mumbai Maritime Bridge project about US$ 2.2 billion. 

Daewoo E&C will...

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The earnings rate of Trinity Asset Management’s Multistragity Fund 1 reached 118.59 percent as of November 16 since the beginning of the year.

High Rate of Return

21 November 2017 - 10:45am
Yoon Yung Sil

According to investment banking industry sources on November 19, a hedge fund with earnings rate of 118 percent have appeared as there are rally in small and mid-size stock prices for the first time in two years after large-cap stocks. 

Trinity Asset Management saw the earnings rate of its Multistragity Fund 1 reach 118.59 percent as of November 16 since the beginning of the year. Its cumulative return rates came to 188.64 percent after the launch in August last year, which were three times higher than principal. The company’s second and third funds released in February this year...

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The amount of investors’ short selling trades rather grew owing to concerns over the market fall in the future.

Biotech Stocks Behind It

21 November 2017 - 10:30am
Yoon Yung Sil

Despite the bullish KOSDAQ market, the short sale trading volume on the market has increased compared to last month. Foreign and institutional investors are buying the stocks of mainly biotech firms, which saw a significant rise in stock prices, but they are seeking to hedge due to an anxiety. 

According to the Korea Exchange (KRX) on November 20, the daily average short-selling trading volume on the KOSDAQ market came to 5.62 million shares as of November 17, up 10 percent from 5.11 million shares last month. The KOSDAQ index surged 11.7 percent this month alone, showing an upward...

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