Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
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Biopharmaceuticals account for growing share of new drug launches SEOUL, July 15 (AJP) - Biopharmaceuticals made up 42 percent of new drug launches worldwide between 2020 and 2024, reflecting their growing influence in the pharmaceutical landscape, according to new data released Tuesday by market research firm IQVIA. The share of biological medicines among newly approved active substances has steadily increased over the past two decades — from 28 percent between 2005 and 2009, to 30 percent in the following five years, and to 39 percent between 2015 and 2019. The latest figures confirm a continued upward trend. New active substances, or NASs, are defined as compounds with previously unapproved chemical structures or mechanisms of action. They often represent significant innovations in drug development, forming the basis of pharmaceutical pipelines across the globe. Regional disparities in biopharmaceutical adoption remain notable. In the 2020–2024 period, biologics accounted for 33 percent of NAS launches in China, compared to 44 percent in the United States, and 45 percent in both Japan and a group of four major European Union countries plus the United Kingdom. IQVIA attributed these variations in part to differences in regulatory environments and market accessibility, emphasizing that a country’s level of access to biopharmaceuticals directly influences its overall healthcare spending. While China’s adoption rate still trails that of more developed markets, the gap has narrowed in recent years, the firm said. The five-year period also saw a notable acceleration in overall drug development, with 394 NASs launched globally — representing nearly 40 percent of all new active substances introduced since 2005. The United States led with 273 NASs during the period, a 22 percent increase from 2015 to 2019, further solidifying its position as a hub for biopharmaceutical innovation. 2025-07-15 15:19:45 -
Industry minister nominee backs US-style tax credits for chips, batteries SEOUL, July 15 (AJP) - South Korea’s nominee for industry minister, Kim Jung-gwan, is pushing for the introduction of production tax credits for semiconductors and battery materials, according to parliamentary documents released Tuesday ahead of his confirmation hearing. Kim, a former senior economic official and most recently an executive at power equipment firm Doosan Enerbility, said the government must adopt “strategic and proactive industrial policies with competitive incentives” to reduce trade risks and bolster key sectors. He identified production tax credits — subsidies tied to output rather than investment — as a priority for advanced industries, starting with semiconductors and battery materials. “Securing global leadership in semiconductors requires swift, strong support in the face of intensifying global uncertainty,” Kim wrote in the parliamentary document. He called for fiscal and tax incentives to enhance domestic semiconductor manufacturing capacity, echoing the production-linked support seen in recent U.S. industrial policy. In the battery sector, Kim warned that a slowing electric vehicle market and China’s dominance in the supply chain pose “urgent threats” to South Korea’s competitiveness. He pledged focused support for the production of critical battery components such as cathodes, anodes, electrolytes, and separators to reduce dependence on Chinese suppliers and strengthen the so-called “K-battery” ecosystem. Production tax credits function as direct tax reductions tied to companies’ actual output. The United States introduced similar measures under the Inflation Reduction Act, offering incentives for domestic production of batteries, solar components, and clean energy fuels. South Korea currently offers one-time investment tax credits of up to 20 percent for large firms in high-tech industries like semiconductors, but has yet to tie such support to production volumes. President Lee Jae Myung had pledged during his campaign to introduce a 10 percent production tax credit for domestically produced and sold semiconductors. Industry estimates suggest that Samsung Electronics and SK hynix could each benefit from annual tax reductions of up to 5 trillion won (approximately $3.6 billion) under such a scheme. Kim’s emphasis on battery materials marks a more granular approach than the broader support pledged by the president during the campaign. Industry insiders welcomed the proposal, noting that extending tax credits to material manufacturers could improve Korea’s supply chain independence in a sector heavily reliant on China. “If production tax credits are applied to key materials, Korea’s battery industry will be much more globally competitive,” a battery industry official said. The nominee's confirmation hearing is scheduled for Thursday. 2025-07-15 14:10:53 -
LG targets global markets for StandbyME 2 portable screen after domestic success SEOUL, July 14 (AJP) - LG Electronics will begin the global rollout of its StandbyME 2 portable screen this week. The company plans a phased international launch, starting with Hong Kong and Turkey this week. Additional markets, including the United States, Canada, Vietnam, and Singapore, will follow in July, with the United Kingdom, Germany, France, and Spain scheduled for August. The StandbyME 2, a second-generation upgrade of LG’s portable screen lineup, recorded strong sales momentum after its Korean debut in February. During its first live broadcast event, more than 1,000 units sold out in just 38 minutes. Over the following five months, sales volume reached nearly four times that of the original StandbyME, signaling growing consumer appetite for portable and flexible screen solutions. The device features a 27-inch QHD touchscreen with a resolution of 2,560 by 1,440 pixels and offers up to four hours of wireless use on a single charge. LG says the new model incorporates customer feedback gathered since the original StandbyME’s launch, introducing a simplified design that allows users to detach the screen from its stand at the press of a button — eliminating the need for tools or screws. That upgrade enables the screen to function as a tabletop display or wall-mounted frame, part of what LG describes as a broader push to accommodate modern viewing habits and mobile lifestyles. The company has framed its second-generation release as a direct response to customer demand, emphasizing flexibility, convenience, and portability. “We will further strengthen our leadership in the global portable screen market by leveraging the completely renewed lifestyle screen, the LG StandbyME 2, which reflects the voices of our customers,” said Lee Choong-hwan, head of LG’s TV business unit. 2025-07-14 15:02:00 -
Samsung supplies advanced image sensor to Xiaomi, challenging Sony in global market SEOUL, July 14 (AJP) - Samsung Electronics has begun external shipments of its newest image sensor, the Isocell JNP, to Chinese smartphone maker Xiaomi, marking a key step in the firm's effort to challenge Sony’s long-standing dominance in the global image sensor market. The Isocell JNP, which features Samsung’s industry-first nanoprismatic technology, has been integrated into Xiaomi’s new CIVI 5 PRO smartphone, the company’s latest flagship equipped with its most advanced camera system to date. According to industry sources, Monday, Samsung’s System LSI division completed development and began mass production of the sensor in the second quarter, roughly a year after debuting its previous high-end Isocell JN5 series in June 2024. Image sensors are a critical component of smartphone cameras and other digital imaging devices, converting light into electrical signals to form high-quality images. The Isocell JNP sensor offers a 50-megapixel resolution, 0.64-micrometer pixel size, and a 1/2.8-inch optical format — conventional specifications — but its defining feature is its innovative nanoprismatic structure. Unlike traditional sensors, where each pixel captures only a single color, Samsung’s new design allows pixels to share and refract light through nano-scale microlenses, enabling the simultaneous capture of multiple colors. The result is a 25 percent increase in light sensitivity compared with the previous model, allowing for significantly improved performance in low-light environments. The technological breakthrough comes as smartphone manufacturers increasingly demand thinner devices — a trend that traditionally compromises image quality due to the need for smaller camera modules. Samsung's nanoprismatic solution addresses this challenge by maximizing light efficiency within the shrinking physical confines of modern smartphones. The move signals Samsung’s renewed ambition in the global CMOS image sensor market, which is projected to grow from $20.8 billion this year to $26.5 billion by 2029, fueled by rising demand from industries such as autonomous vehicles, robotics, and surveillance. Samsung currently holds a 15.4 percent share of the image sensor market, trailing far behind Sony’s commanding 51.6 percent. Chinese rival OmniVision is gaining ground, increasing its market share from 10.9 percent in 2023 to 11.9 percent in 2024. To close the gap, Samsung is eyeing expansion beyond its in-house Galaxy smartphones and Chinese partners. The company plans to supply sensors to North American tech firms beginning next year and is actively developing automotive-grade sensors, aiming to diversify its customer base and broaden its portfolio. 2025-07-14 11:06:28 -
YouTubers shape K-beauty retail in Leferi's latest Select Store pop-up SEOUL, July 11 (AJP) - South Korean beauty content company Leferi has launched its fourth Select Store pop-up event, showcasing a curated lineup of Korean cosmetics selected through a sweeping analysis of YouTube beauty content. Running through July 13 at Starfield COEX Mall, Hanam, and Suwon, the Select Store – THE KYEA SELECTION features 21 standout products from 13 brands, including Jung Saem Mool, AHC, and TOKO. What sets this edition apart is its methodology: rather than relying solely on star creators, Leferi utilized its proprietary Beauty Brand Power Index to mine data from more than 15,000 unsponsored YouTube review videos by 929 Korean beauty creators, amassing insights from 553 million views between November 2024 and April 2025. The result, according to Leferi, is a new kind of curation — one based not on paid partnerships or influencer popularity, but on algorithmically assessed product performance across skincare, color cosmetics, and inner beauty supplements. “This is not just another influencer event,” said a Leferi spokesperson. “It’s a retail experience backed by big data and actual viewer engagement.” Leferi has previously hosted similar events featuring star YouTubers like Leo J and Minsko at luxury retail destinations such as The Hyundai Seoul. But this iteration marks a shift toward platform-based authority, blending beauty tech with consumer trust. Still, creators remain central to the experience. Beauty YouTuber Bitnal Young, serving as the event’s "muse," underscored the influence and responsibility that come with her role during a fan meet-and-greet held on Friday. “I have to be very careful because I can’t just recommend any product,” she said in an interview. “When subscribers say that the products I recommended worked well for them, it feels like I’m really having an influence.” Her audience, she added, is primarily women aged 25 to 35 — a key demographic in Korea’s competitive beauty market. The pop-up has also drawn international attention, highlighting the global reach of Korean beauty content. Danya, a 20-year-old visitor from Chicago, browsed the selection after learning about K-beauty through Korean influencers. “I bought a few AHC eye creams — they felt very hydrating and nice,” she said. “Korean brands are huge in the U.S. now.” Positioned as a hybrid between a high-concept retail store and an industry showcase, the Select Store aims to do for beauty what Apple Stores did for tech — or what CES does for product innovation. The event includes creator-led festivals and talk shows designed to foster deeper community engagement. Founded in 2013, Leferi manages a roster of about 800 creators globally and launched the Korea YouTuber’s Excellence Awards to recognize standout content in the beauty space. The company’s touring platform model aims to serve as a new kind of distribution channel — connecting influencers, brands, and consumers in real time and across geographies. 2025-07-11 17:12:59 -
Samsung to launch XR headset this year, targeting Apple, Meta SEOUL, July 11 (AJP) - Samsung Electronics plans to introduce its first extended reality headset later this year, positioning the device as a premium rival to Apple’s Vision Pro and Meta’s Quest lineup. The device, developed under the code name Project Moohan, marks Samsung's most ambitious move yet into immersive computing. The project is a collaboration with Google and Qualcomm, uniting three of the world’s largest tech companies as they seek to carve out space in a market still searching for mass appeal. Roh Tae-moon, president of Samsung’s mobile division, confirmed the launch timeline during a recent press briefing in New York. “We are working to enhance the completeness of XR headset Project Moohan with the goal of launching within this year,” Roh said. Under the partnership, Google is responsible for the operating system and multimodal artificial intelligence capabilities, Qualcomm is providing the chipset, and Samsung is leading the hardware development and manufacturing. Project Moohan will be Samsung’s first Android-based XR headset, following a developer preview of Google’s software last December and a media showcase during the company’s Galaxy Unpacked event in January. Industry observers expect the headset to integrate with Samsung’s Galaxy Watch and the newly launched Galaxy Ring, offering gesture controls and wearable syncing that may improve ease of use compared to rival products. Apple’s Vision Pro, despite its technological sophistication, has faced criticism over its $3,499 price tag and limited software library. Meta’s Quest headsets, while more affordable, have struggled with a fragmented app ecosystem and uneven consumer adoption. Samsung is aiming for a middle ground — banking on its vast device ecosystem and Android app compatibility to differentiate its offering. Though Samsung has not announced a firm launch date, analysts expect the headset could be unveiled as early as September. Much will hinge on pricing and content availability, areas where competitors have stumbled. In addition to its XR ambitions, Samsung is expanding its Galaxy AI platform to 400 million devices this year, up from 200 million in 2024. The company reiterated its pledge to offer core AI services, such as real-time translation, free of charge — even on budget models. Roh said Samsung will maintain free access to basic features beyond 2025, while hinting that more advanced capabilities could eventually be paywalled through subscription plans. 2025-07-11 13:51:00 -
Hyundai, Kia gain US market share despite 25 percent tariffs SEOUL, July 10 (AJP) - Hyundai Motor and its affiliate Kia notched a record 11 percent combined market share in the United States over the first five months of 2025, sidestepping the immediate effects of steep American tariffs by holding vehicle prices steady and relying on preexisting inventory. The two South Korean automakers sold a combined 752,778 vehicles from January through May, up from 10.5 percent in the same period a year earlier, according to data released Thursday by Wards Intelligence, an automotive research firm. Hyundai accounted for 5.8 percent of the U.S. market with 400,116 vehicles sold, while Kia held 5.2 percent with 352,662 units. The companies maintained steady month-on-month growth, increasing their market share from 10.5 percent in January to 10.8 percent by April, despite a 25 percent U.S. tariff on foreign-made automobiles imposed earlier this year. The gains were driven in part by a strategic freeze on vehicle prices in the American market, a move made possible by tapping into inventories built up before the tariffs took effect. However, industry analysts warn that the impact of the trade barriers will begin to weigh on financial performance in the second quarter. Korea Investment & Securities estimates Hyundai will incur 803 billion won (approximately $582 million) in tariff costs during the second quarter, with Kia projected to face 723 billion won (around $524 million) in related expenses. KB Securities estimates that Hyundai’s annual tariff-related costs could reach 3.1 trillion won starting from vehicles sold after mid-May. Other automakers, including Toyota and Ford, have begun raising vehicle prices in the U.S. to offset the higher costs. Toyota increased the average selling price of U.S. vehicles produced after July 1 by $270, while Ford raised prices on vehicles manufactured in Mexico and sold in the U.S. in May. While Hyundai and Kia have so far resisted similar price hikes, analysts believe it is only a matter of time before the cost burden is passed on to consumers. 2025-07-10 17:15:04 -
Samsung C&T's 8 Seconds opens first Philippine store, expanding K-fashion reach in Southeast Asia SEOUL, July 10 (AJP) - Samsung C&T’s casual fashion brand 8 Seconds made its official debut in Southeast Asia this week, opening its first store in the Philippines through a partnership with local retail powerhouse Suyen Corporation. The 420-square-meter flagship, located on the second floor of SM Mall of Asia in Manila, launched Wednesday with a grand opening event. Founded in 2012, 8 Seconds is positioned as a trend-driven, accessible fashion label aimed at younger consumers, often described as South Korea’s answer to fast fashion giants like H&M and Zara. Its partnership with Suyen Corporation—a veteran Philippine retailer with approximately 1,600 stores nationwide across fashion, beauty, and food sectors—signals Samsung’s broader ambition to capture Southeast Asia’s growing appetite for Korean culture and aesthetics. The ceremony attracted a mix of high-level dignitaries and brand representatives. Korean Ambassador to the Philippines Lee Sang-hwa and Philippine Trade and Industry Director Jo-Dann Darong were in attendance, along with Pasay City Councilor Luigi Calixto Rubiano. From the corporate side, Suyen executives Ben Chan, Virgilio Lim, and Bryan Lim joined Samsung C&T Fashion Division Head Lee Jun-seo and Vice President Ko Hee-jin to mark the occasion. Sunoo, a member of the K-pop group ENHYPEN and the brand’s global ambassador, also made an appearance, further amplifying the brand’s youth appeal. “The Philippines, and Manila in particular, represents strong potential for K-fashion,” said a Samsung C&T official. “The market has a youthful demographic and a high affinity for Korean culture, which aligns well with the identity of 8 Seconds. Local consumer feedback shows strong demand and high satisfaction with our products.” Samsung cited the country’s favorable population pyramid — heavily skewed toward younger generations — as a primary driver for choosing Manila as its entry point. The brand also emphasized its differentiation from global competitors by offering sizing and styles more attuned to Asian body types and fashion sensibilities. The flagship store at SM Mall of Asia, one of Southeast Asia’s largest shopping destinations operated by the retail conglomerate SM Group, marks the first step in a broader regional expansion strategy. 8 Seconds plans to open two additional locations in Manila by October: one later this month at Uptown Mall in Bonifacio Global City, and another at Robinsons Manila. Samsung also aims to capitalize on its collaboration with ENHYPEN, whose popularity in both South Korea and the Philippines has surged in recent years. Since 2023, the group has secured five No. 1 albums on iTunes in the Philippines alone — a resonance that 8 Seconds hopes to channel as it establishes itself in the local market. With its Philippine launch, 8 Seconds joins a growing wave of Korean fashion brands extending their footprint beyond domestic borders, as Korean cultural exports continue to redefine global trends from beauty to pop music — and now, increasingly, everyday streetwear. 2025-07-10 15:46:33 -
Samsung unveils slimmest foldable yet with Galaxy Z Fold7 SEOUL, July 10 (AJP) - Samsung Electronics has introduced its latest flagship foldable, the Galaxy Z Fold7, touting it as the slimmest and lightest model in its Z Fold series to date. Unveiled at the company’s Galaxy Unpacked 2025 event in Brooklyn, the Fold7 represents a significant leap in both design and functionality as the firm continues to bet big on foldables and artificial intelligence. The new device measures just 8.9 millimeters thick when folded and 4.2 millimeters when open, and weighs 215 grams. It features an expansive 8.0-inch main display and a 6.5-inch cover screen with a cinematic 21:9 aspect ratio, offering users a tablet-like experience in a smartphone form factor. Beneath the hood, the Fold7 runs on Qualcomm’s Snapdragon 8 Elite for Galaxy processor, which Samsung says delivers a 41 percent improvement in neural processing unit (NPU) performance, along with gains of 38 percent and 26 percent in CPU and GPU speeds, respectively. The device is also equipped with a 200-megapixel wide-angle camera — matching the specifications of the Galaxy S25 Ultra — and Samsung’s AI-powered ProVisual Engine for enhanced low-light photography. At a media briefing in Seoul, Thursday, Samsung officials spoke about the engineering challenges behind the new form factor. “We redesigned almost every component to achieve this level of thinness,” said a lead product planner. “The biggest hurdle was finding the balance between an ultra-slim profile and uncompromising flagship performance.” Security features have also received an upgrade. The Fold7 introduces KEEP, a new encrypted storage function that isolates data for individual apps, while Samsung’s Knox Matrix expands threat detection across its ecosystem. The company also said it has added quantum-resistant encryption to its Secure Wi-Fi capabilities, anticipating emerging cybersecurity threats. In addition to the Fold7, Samsung revealed the Galaxy Z Flip7, which sports a 4.1-inch cover screen, and a more affordable Flip7 FE model, aimed at expanding the reach of its foldable portfolio. Global sales of the Galaxy Z Fold7 begin July 25, with pre-orders in South Korea starting Tuesday. Pricing for the Fold7 starts at 2.379 million won (about $1,780) for the 256GB model, climbing to 2.933 million won for the top-tier 1TB version with 16GB of RAM. Early buyers will receive a complimentary double-storage upgrade. 2025-07-10 15:13:00 -
Tata Group of India bets on AI, EVs, renewables to power its next chapter Editor's Note: This article is the 26th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 10 (AJP) - Spanning sectors from steel and software to salt and automobiles, the Tata Group of India stands as Asia’s most enduring industrial empire. With operations in more than 100 countries and a global workforce exceeding one million, the conglomerate posted $165 billion in revenue in fiscal 2024. Its 29 publicly listed companies boasted a combined market capitalization of $403 billion as of August in 2024. To many, Tata is more than a business. It is a byword for Indian enterprise and a case study in how legacy, ethics, and innovation can form the bedrock of global expansion. At its heart is a model of corporate stewardship that has shaped Indian capitalism and influenced business practices around the world. The group traces its origins to 1868, when Jamsetji Nusserwanji Tata — a visionary Parsi industrialist — founded a modest trading firm with an outsized ambition: to help build a modern, self-reliant India. From establishing the Empress Mills in Nagpur to opening the Taj Mahal Hotel in Mumbai — India’s first hotel with electricity — Jamsetji laid the foundations for what would become one of the world's most diversified conglomerates. But his legacy is not only industrial. Jamsetji championed a radical business philosophy for his time that industry should serve society. He seeded institutions such as the Indian Institute of Science and invested in hydroelectric power projects, embedding public good into private enterprise. That ethos — prioritizing employee welfare, education, and infrastructure over pure profit — remains core to Tata’s identity, setting it apart in an era dominated by shareholder-first capitalism. Tata’s expansion unfolded through a series of calculated bets on India’s industrial future. Tata Steel was launched in 1907 as the nation’s first major steel plant. Tata Motors, founded in 1945, began with locomotives and evolved into a key player in commercial and passenger vehicles. In 1968, Tata Consultancy Services (TCS) was formed — now Asia’s largest IT firm, generating $30 billion in revenue and employing over 600,000 consultants worldwide. Its global footprint grew dramatically in the 2000s with a series of bold acquisitions. In 2000, the group acquired Tetley Tea, marking its foray into international consumer markets. The $12 billion purchase of Corus Steel in 2007 vaulted Tata Steel into the global top tier, and the $2.3 billion acquisition of Jaguar Land Rover in 2008 transformed Tata Motors into an automotive powerhouse. TCS today leads the group in valuation, with a market cap exceeding $150 billion, followed by Tata Motors and Titan Company. Despite its vast scale — more than 30 companies spanning 10 sectors — Tata operates on a decentralized model. Each firm has its own board, granting operational autonomy while adhering to shared principles of governance and ethical conduct. At the center sits Tata Sons, the group’s principal holding company. Nearly two-thirds of its equity is held by philanthropic trusts established by the Tata family. The largest, the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, direct a significant portion of the group’s profits to charitable, educational, and scientific causes — a structure virtually unique among global business conglomerates. Since assuming the chairmanship in 2017, Natarajan Chandrasekaran has accelerated internal consolidation and long-term capital allocation. His tenure has seen the merger of seven metal subsidiaries with Tata Steel and the creation of Tata Consumer Products through strategic reorganization. The group plans to deploy over 80 percent of its capital expenditures in India over the next five years, including Tata Power’s $10 billion push into renewables and $5 billion earmarked for gigafactories. Still, Tata faces the complexities of an evolving global economy — climate pressures, technological disruption, and geopolitical volatility among them. Yet its strengths lie in its unmatched diversification, deep-rooted brand equity, and 157-year legacy of integrity. As the group charts its next chapter, balancing innovation with social purpose, it appears poised to maintain its place as one of Asia’s most resilient and principled industrial dynasties — an empire not only built to last, but built to lead. 2025-07-10 09:52:41