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

Busan poised to host UNESCO's annual gathering next year SEOUL, July 15 (AJP) - South Korea is expected to host the upcoming session of UNESCO's World Heritage Committee in the southern port city of Busan in July next year. The decision is set to be made at the committee's latest session, currently underway in Paris this week, with South Korea as the sole candidate. With no other countries in the bid, the country appears almost certain to host the event. Once Busan is selected as the venue for the international gathering, which brings together over 3,000 participants from nearly 200 countries, it would be the first time the event takes place in the country since the committee's inaugural meeting in Paris in 1977, followed by other Asian cities such as Phuket, Thailand in 1994, Kyoto, Japan in 1998, Suzhou, China in 2004, and Phnom Penh and Siem Reap-Angkor in Cambodia in 2013. The committee is composed of 21 of the international body's 190 member nations, which vote on the selection and preservation of World Heritage sites and assets recognized for their natural and cultural significance, as they are deemed "so exceptional as to transcend national boundaries and to be of common importance for present and future generations of all humanity." Meanwhile, petroglyphs carved into rocks and cliffs by local inhabitants along the Bangucheon Stream in the southeastern city of Ulsan, showing traces of prehistoric eras, were listed last week as the country's latest World Heritage site. 2025-07-15 15:03:02

SHINee's Onew to release second full-length album "PERCENT" SEOUL, July 15 (AJP) - K-pop group SHINee member Onew will return to the music scene with the release of his second full-length album, "PERCENT," dropping Tuesday at 6:00 p.m. (0900 GMT). The album arrives five months after his January mini-album "CONNECTION." According to his agency, SM Entertainment, the title track "ANIMALS" captures the moment when instinct takes control. The song features a refined bass line, acoustic guitar, synths, and sound effects that mimic animal calls. Rather than repeating the same structure, Onew develops a narrative that creates tension and movement throughout the track. The music video, which will be released alongside the album, visualizes this theme by showing instinct awakening and reason giving way. Onew said he hopes listeners will feel free to follow their instincts and enjoy moments of joy, “even if only under a full moon.” "PERCENT" includes a variety of songs that reflect different moods and themes. The opening track "Silky" embraces rest and laziness, while "Caffeine" uses unusual harmonies to express a sense of addiction. "Marshmallow" describes the feeling of falling in love, and "Confidence" symbolically captures Onew’s emotional rhythm in uncertain times. The track "오래 OKㅋ" offers comfort with a light, humorous tone. Other songs include "Far Away," which contrasts sharp sounds to express a desire to escape confusion, and "MAD," which explores the emotional aftermath of a breakup. The track "PERCENT (%)" experiments with sound to portray a wide emotional range, while "Epilogue" focuses on a sincere, vocal-driven narrative. The album closes with "Happy Birthday," a song about hope and gratitude. Onew has described "PERCENT" as a personal story of being emptied, filled, and shaped by interaction with the world. He said, “No one can reach 100 percent alone, but even imperfect beings are beautiful in their own way.” He participated in the overall production of the album, showing his artistic growth. To celebrate the release, a pop-up store titled "ONEW 2ND ALBUM 'PERCENT' POP-UP STORE" has opened at the first floor open stage of Shinsegae Gangnam. The space features interactive displays and fan events designed around the album’s concept. 2025-07-15 14:15:26

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

POSCO to supply advanced steel for Saudi Aramco's gas plant SEOUL, July 15 (AJP) - South Korea’s largest steelmaker POSCO will supply hydrogen-induced cracking (HIC) resistant steel to Saudi Aramco for its Fadhili gas plant expansion project. The agreement is a strategic win for POSCO and a notable shift in procurement norms for Aramco, the world’s largest oil producer, which has traditionally sourced such critical materials from European manufacturers. The Fadhili expansion, designed to increase the plant’s gas processing capacity by roughly 60 percent, demands materials capable of withstanding severe operational conditions, including hydrogen-induced cracking — a corrosive failure mechanism caused by hydrogen sulfide exposure in high-pressure environments. HIC-resistant steel, a specialized alloy used in the fabrication of pipes, pressure vessels, and structural components, plays a vital role in energy infrastructure. While POSCO has previously supplied HIC-grade steel for pipelines, this project represents the first time its steel will be deployed within the plant itself, positioning the Korean company as a serious contender in an elite global market. “This contract is a clear example of how technological innovation and quality can break entrenched market barriers,” a POSCO spokesperson said. The company described the deal as part of its broader strategy to achieve what it calls “super-gap” competitiveness — offering premium, high-value-added steel products that few global players can match. Beyond the commercial win, the agreement carries significant implications for South Korea’s broader industrial ecosystem. The HIC-resistant steel will be fabricated domestically into pipes, pressure vessels, and other components by firms including Hyundai Steel Pipe, SeAH Steel, Bumhan Mecatec, and Taekwang Industrial. Aramco had initially considered European firms for downstream production. But POSCO’s selection helped redirect that work to South Korean manufacturers, bolstering the country’s plant engineering and fabrication sectors. For Aramco, the decision also reflects a broader shift toward diversifying its supplier base as it embarks on ambitious expansions across gas and petrochemical processing. Construction on the Fadhili gas plant expansion is expected to begin later this year. 2025-07-15 13:33:25

TRAVEL: Glimpse into daily life in North Korea from across the Amnok River Amnok River, July 09 (AJP) - North Korea was once one with South Korea and remains close, yet unreachable. Today, we can only catch glimpses of the country under limited circumstances and in specific places. We cannot talk to them, shake their hands, or interact freely. One of the few places we can view North Korea relatively closely is from the Chinese border. While South Korea and North Korea are separated by the heavily fortified Demilitarized Zone, China and North Korea are separated mostly by the Amnok and Tuman rivers, making it possible to observe each other on clear days. I visited the Amnok River hoping to catch a closer look at North Korea. In this region, boat tours allow passengers to see across the river to North Korean territory. These boats pass under the broken section of a bridge, once a route used by Chinese troops during the Korean War. Known as the Broken Bridge at Jianghado, it was bombed by American forces and has never been restored. As our small boat approached the North Korean side, the figures of people came into focus. From afar, you might simply note that "there are people" or "those are soldiers," but as we drew nearer, we could see their postures, facial expressions, and clothing. They were plowing steep hillside fields with oxen. Two farmers guided a yoke as two oxen pulled a plow, a scene that looked frozen in the 1950s. Their brick houses were patched together with mismatched roof tiles, and the windows were irregularly shaped, seemingly incapable of withstanding harsh winters. Guard posts behind stone fences had peeling paint that no longer served any camouflage purpose. The only modern touch was a CCTV camera, but whether it worked was unclear. Wooden utility poles leaned dangerously and looked like they might snap in the wind. Across the Amnok River, the main mode of transportation appeared to be bicycles. A few motorcycles and cars were spotted, but they were rare. Most people carried goods on bicycles along a path fenced with netting toward the Chinese side, the only visible road on the North Korean side. A few people also moved by boat. These small, rusty motorboats, fitted with oars on both sides, carried two or three people fishing. Since they were closer to us than the people on land, we could hear their voices and exchange greetings. They looked no different from rural young men in South Korea—simple and familiar. Watching their faces, I often forgot I was looking at North Korea. It felt like I was looking at a countryside village in South Korea. But then I saw a sign on a deforested hill that read, "Let us go forward with communism!" That jolted me back to reality. The same language, but a sentence unimaginable in the South—it was jarring. After getting off the boat, I traveled by bus for about an hour with the Amnok River on my left. The first thing I noticed were construction workers in North Korea. Most of them were young, small-framed men, numbering easily in the hundreds. Wearing yellow safety helmets, they were building walls with piles of earth. About an hour and a half later, we arrived opposite Sinuiju. There, we saw apartment buildings, possibly up to 15 stories high, which brought to mind the phrase "for show." Though it was around sunset, only a few small lights flickered inside, and no people could be seen. The ground floors housed facilities like food distribution centers, "Hadan 1 Pharmacy," a library, and an IT distribution room, mirroring the style of South Korean mixed-use buildings. On one wall, a large slogan read, "Let us thoroughly carry out the decisions of the 12th Plenary Meeting of the 8th Central Committee." Our glimpse of the other side was soon obscured as fog rose across the width of the Amnok River. The fog swelled over the river like a pillow placed between North Korea and China, cutting off the view once again. 2025-07-15 11:05:45

BLACKPINK's North American tour kicks off with sell-out concerts in Los Angeles SEOUL, July 14 (AJP) - K-pop girl group BLACKPINK performed in front of a sell-out crowd of more than 100,000 fans in Los Angeles over the weekend as part of their world tour. According to their agency YG Entertainment on Monday, the two-day concerts at SoFi Stadium in Inglewood were sold out shortly after tickets went on sale, packing the venue and making BLACKPINK the girl group to draw the largest crowd ever at the stadium. The enthusiastic fans erupted in cheers as the four girls, Jennie, Ji-soo, Lisa and Rosé, captivated them with spectacular performances of their hit songs along with individual solo stages. The latest gigs came after last week's concerts here where the four members reunited for the first time in nearly two years after focusing on their respective solo careers. They are now set to perform in Chicago, New York, and Toronto before wrapping up their North American stops and embarking on the Asian and European legs of the tour. Meanwhile, through a partnership with BLACKPINK, Google has been offering concert-related services on Google Maps since last week including directions to venues, nearby dining options, and other useful information for fans. 2025-07-14 17:00:52

High-income YouTubers under crackdown over unreported earnings SEOUL, July 14 (AJP) - South Korea’s tax authorities have ramped up enforcement efforts against YouTubers and other online content creators, uncovering widespread tax evasion and imposing billions of won in penalties. According to data submitted to ruling party lawmaker Jung Tae-ho by the National Tax Service (NTS), audits were conducted on 21 YouTubers in 2024 alone, resulting in 8.9 billion won (approximately $6.45 million) in penalties. The intensified scrutiny reflects growing concern over tax compliance among high-earning online influencers. From 2019 through 2024, regional tax offices audited 67 YouTubers, levying a total of 23.6 billion won in penalties — an average of about 350 million won per creator. The figures encompass all types of business income, not solely revenue generated through YouTube. Tax enforcement has accelerated in recent years. While just 22 creators were audited over the four-year period between 2019 and 2022, authorities investigated 24 in 2023 and another 21 in 2024. During that same time, the average penalty per YouTuber rose sharply, exceeding 420 million won last year. Despite the rise in enforcement, tax authorities acknowledged limitations in tracking specific income streams, such as direct viewer donations. Officials said they do not maintain detailed records distinguishing between forms of income like "super chats" or voluntary bank transfers, which creators often label as "subscriptions" or "gifts." Regardless of terminology, such donations are taxable under Korean law. “Voluntary” viewer contributions — whether processed through platforms or transferred directly — must be reported as income, the NTS said. In a sign of broader digital enforcement, the NTS said it had expanded its scope this year to include 17 investigations into other online platforms. These include nine cases linked to sexually explicit broadcasts, five involving deepfake gambling sites, and three YouTube channels accused of spreading defamatory content for profit. Lawmaker Jung, who disclosed the findings, called for stronger safeguards to address gaps in online income reporting. “We need to encourage honest reporting and introduce institutional improvements to prevent blind spots in digital taxation,” he said. 2025-07-14 15:22:08

NCT DREAM marks 9th anniversary with time travel-themed album 'Go Back To The Future' SEOUL, July 14 (AJP) - As NCT DREAM approaches its 9th anniversary, the group is making a comeback with its fifth full-length album, "Go Back To The Future," built around the concept of time travel. The album was officially introduced during a press conference on Monday at Lotte Cinema World Tower in Seoul. The seven-member group, including Mark, Renjun, Jeno, Haechan, Jaemin, Chenle, and Jisung, explores the past, present, and future in a narrative that connects their beginnings in 2016 to their current identity in 2025 and a distant future they call the "Absolute Present." To fully realize the time travel theme, they received official approval to pay homage to the film "Back to the Future" from Universal Studios and Amblin Entertainment, combining familiar visuals like hoverboards with NCT DREAM's own symbols. "It is an album with double title tracks. It consists of nine songs and carries a theme of time travel," Mark explained. "We, the quirky seven members of NCT DREAM, accidentally discover a time machine, which is a hoverboard. As NCT DREAM, known for our storytelling, we included many fun elements in the album revolving around time." "BTTF" (Back To The Future), one of the title tracks, reflects on the idea of understanding a regret-free past while facing choices that can change the future. Jeno described the song as intense and central to the album’s message. Renjun added, "All the time in the past has accumulated to create the current NCT DREAM. Some lyrics recur like a slogan, capturing our shining selves from the past, present, and future." The group also nodded to their origins by wearing the same pajamas from their debut music video in the "BTTF" video, recreating those early scenes. "It conveys the message that the 'us' back then has led to the 'us' now," they said. The second title track, "CHILLER," shifts the focus to enjoying the present with confidence. Chenle noted, "It is a song that follows 'BTTF.' It carries a message of enjoying my most radiant self just as I am. The word 'CHILLER' itself conveys a sense of leisure." Jaemin added that it was recorded in a relaxed but sincere atmosphere to match the lyrics' tone. This is the first time NCT DREAM has selected two title tracks. "Rather than deciding to have double title tracks from the planning stage, we both loved them so much that we ended up going with double title tracks," Chenle explained. The album also includes "I LIKE IT," "DREAM TEAM," and "Interlude: Back to Our PARADISE," as well as ballads like "My Rain Shower ('Bout You)," "When the Summer Wind Blows (That Summer)," and "Dawn Star (Miss Me)." "Beautiful Sailing" closes the album, reflecting on their journey and hinting at what lies ahead. Ahead of the release, NCT DREAM held a three-day concert at Gocheok Sky Dome in Seoul, drawing 60,000 fans and setting a new group record. "If those who attended the performances feel that they made the right choice to see an NCT DREAM concert, that brings me great fulfillment," Jaemin said. Jisung reflected on their near-decade-long career, saying, "I feel pride in being a team that can hold a concert at Gocheok Dome." Haechan added, "Even though we are approaching the 9th anniversary, we will show a passion as if it's just our 9th day since debut." NCT DREAM said their main goal is to deliver the album’s message clearly. "While each of us may have various new dreams, I believe that achieving the dream we initially had is valuable," Mark said. "Instead of dreaming different dreams, we want to carry the message, even if the form differs." "Go Back To The Future" was released on Jul. 14 at 6 p.m. on major music platforms and is also available as a physical album. 2025-07-14 15:14:10

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