Newspapers Must Ask ‘Good Questions’ to Create Fresh Perspectives, Korea Newspaper Association Chief Says "Asking good questions and creating new perspectives through public debate is both the duty and the right of newspapers." Park Jang-hee, chairman of the Korea Newspaper Association, made the remarks on 7일 at the Korea Press Center during the 70th Newspaper Day ceremony. He said machines cannot raise doubts on their own or empathize with the values of the times and the pain of neighbors. The ceremony was co-hosted by the Korea Newspaper Association, the Korea Newspaper and Broadcasting Editors Association and the Journalists Association of Korea. In his address, Park said artificial intelligence can produce answers instantly from vast data, while biased claims spread through algorithms on platforms “as if they were the correct answer.” He called the current moment “an era of answers.” He said high-quality journalism grounded in facts and balance is “a journey with no final destination.” Citing this year’s Newspaper Day slogan — “Beyond the algorithm, read the real world” — he urged newspapers to dig into truths that cannot be reduced to calculation and to build spaces for unity and public discussion. Lee Tae-gyu, president of the editors association, stressed responsibility in his opening remarks. “Technology cannot judge and verify what is true, nor does it take responsibility for results,” he said, adding that newspapers exist to put accuracy over speed, trust over sensationalism and responsibility over trends. He said the power to read the real world lies in journalism — in reporters’ on-the-ground verification, editors’ standards and the media’s sense of duty to the community. Park Jong-hyeon, president of the journalists association, also emphasized rebuilding trust in a message to readers. “AI and algorithms deliver information quickly, but they do not guarantee the truth,” he said. He called on the media to ask more questions, verify more and keep records more responsibly, pledging to choose substance over breaking news and accuracy over speed while staying in the field. A reception followed the ceremony, drawing about 300 guests including National Assembly Speaker Woo Won-shik; Jeong Cheong-rae, Democratic Party leader; Jang Dong-hyeok, People Power Party leader; Seoul Mayor Oh Se-hoon; and Lee Gyu-yeon, senior presidential secretary for public relations and communication. In welcoming remarks, Park said that when the world is unsettled, society needs clearer standards of truth, and that newspapers have the strength to push back against falsehoods and extremism. He said that strength comes from trained reporters in the field and rigorous fact-checking. Park added that while the AI era is unlike the past, AI is built on learning, and learning depends on refined accumulations over time — meaning the standing of original journalism and the value of carefully produced works will rise. * This article has been translated by AI. 2026-04-07 19:54:19

U.S. Leads Global Biotech for 15 Years as China Gains; South Korea Expands CDMO Footprint The number of publicly listed biotech companies and biotech patent filings has continued to rise worldwide, with the United States holding the top spot for 15 years. With expectations that Asia led by China will expand, South Korean biotech companies are accelerating efforts to secure global production hubs, led by contract development and manufacturing (CDMO). Data released Tuesday by the Korea Institute of Science and Technology Information (KISTI) showed the number of biotech companies listed on stock exchanges worldwide rose to 2,787 in 2022 from 1,542 in 2009, an average annual increase of 4.68%. By country over the past 15 years from 2009 to 2023, U.S.-based companies accounted for the largest share at 28.86%, followed by China, India and Canada. South Korea ranked fifth with 5.18%. Companies listed on the Nasdaq made up the biggest portion at 18.46%, while firms listed on South Korea’s KOSDAQ and KOSPI accounted for 6.1%. The United States also led biotech patent filings over the past 15 years, with a 17.54% share, followed by China at 12.51% and Japan at 9.74%. China’s share more than doubled over the period and ranked first in 2021 at 15.5%. South Korea held fifth place at 4.99%. As the market remains heavily weighted toward the United States, some analysts expect Asia’s market — centered on China — to expand over the medium to long term. South Korean companies are responding with large investments, including in U.S. production facilities to build global footholds. Samsung Biologics, Celltrion and Lotte Biologics have been expanding U.S. manufacturing bases. Samsung Biologics said it completed the acquisition of GlaxoSmithKline’s plant in Rockville on March 31 local time. Celltrion said it completed the acquisition of a Branchburg, New Jersey, facility from Eli Lilly on Dec. 31 and began full operations in January. Lotte Biologics was the first among them to secure a U.S. production base, acquiring a 40,000-liter facility in Syracuse, New York, from Bristol Myers Squibb in 2022 and operating it. Combined, the three companies’ U.S. biologics production capacity totals 166,000 liters. An industry official said U.S. facilities would play key roles by easing tariff risks, strengthening responses to global clients and diversifying supply chains. Some have called for policy support, including expanded institutional investment and government incentives to encourage sustained capital inflows from overseas. In its report, KISTI said, “Especially for patent filings, a strategy appears necessary to respond to U.S. technological leadership and China’s quantitative expansion,” adding that companies should be guided to shift R&D toward “qualitative innovation” so they can move from quantity to quality in technology development. * This article has been translated by AI. 2026-04-07 18:34:01

Korean Biotech CDMOs Expand From Manufacturing to Integrated Services Korean biotech companies are tightening their grip on the contract development and manufacturing (CDMO) market, reinforcing South Korea’s standing as an Asian bio hub. As global drugmakers expand outsourcing, Korean firms are moving beyond basic production into higher-value work that includes process development and regulatory support. BioPlan, a biopharmaceutical market research firm, said on the 7th that Samsung Biologics’ Songdo Bio Campus in Incheon was selected as the world’s largest single facility by production capacity. It held the No. 1 spot again after a 2022 survey, a result seen as validating the company’s “super-gap” strategy. Celltrion also gained ground. Operating Plants 1, 2 and 3 in Incheon, Celltrion ranked seventh in the survey, joining the global top 10. China’s CL Biologics’ Shenzhen facility ranked second, and a Genentech facility in the United States acquired by Switzerland’s Lonza in 2024 ranked third. In revenue, Korean companies are also closing in on global leaders. Jefferies said Samsung Biologics ranked fourth in global CDMO sales in 2024, posting $3.27 billion (about 4.9458 trillion won), behind Lonza, Thermo Fisher and Catalent. The report cited surging demand as CDMOs shift from small-molecule drugs toward more complex products such as cell and gene therapies. The shift is reflected in business models. Samsung Biologics is expanding modalities such as antibody-drug conjugates, while extending into contract research through “Samsung Organoid,” building an integrated service system that spans research and development. It has also strengthened its production base. After securing 17 of the world’s top 20 pharmaceutical companies as clients, it completed the acquisition of a biopharmaceutical manufacturing facility in Rockville, Maryland, on March 31 local time. With a 60,000-liter drug substance plant capable of supporting clinical through commercial production, its total capacity expanded to 845,000 liters. Celltrion is also upgrading its structure on the back of growing orders. After signing a contract manufacturing (CMO) deal worth about 678.7 billion won with Eli Lilly early this year, it added further contracts, pushing its cumulative CMO order backlog past 1 trillion won within the first quarter. The company is also shifting weight toward higher-value services. It is pursuing a CMO strategy aimed at boosting clients’ competitiveness through formulation changes, seeking differentiation with its own subcutaneous (SC) formulation conversion technology. A key example is its “formulation-change CMO” business, applying know-how built through products such as Remsima SC and Herzuma SC to external clients. Celltrion is accelerating its overseas footprint as well. It recently completed the relocation of a biopharmaceutical production facility in Branchburg, New Jersey, and set its expansion scale at 75,000 liters. That would raise its drug substance capacity from 316,000 liters to 571,000 liters. The company aims to secure CMO revenue through local production while broadening into CDMO and cutting costs to expand supply to the U.S. market. Lotte Biologics said it signed a CDMO contract on the 1st with a U.S. oncology-focused biotech company to produce antibody drug substance and develop processes. It plans to produce late-stage clinical samples and optimize processes at its Syracuse, New York, campus, while linking with its Songdo campus to strengthen integrated CDMO capabilities. As companies broaden their scope, the basis of competition is changing. A production-only model is showing limits, and integrated capabilities that include clinical support and regulatory approvals are emerging as a key factor. Jung Yoon-taek, head of the Korea Pharmaceutical Industry Strategy Research Institute, said, “The market is being reshaped from CMO to CDMO and to CRDMO,” referring to contract research, development and manufacturing organizations. “Competition is shifting toward companies that can provide customized, integrated services,” he said. The trend is also feeding into expanded investment by global drugmakers in South Korea. Roche signed a memorandum of understanding with the Ministry of Health and Welfare last month on strengthening global competitiveness in the biohealth industry and agreed to pursue $500 million (about 750 billion won) in investment over five years. Eli Lilly also announced a plan this year to invest a total of $500 million over five years. Even as South Korea emerges as a new hub, companies still face the task of proving both capacity and technology. Lee Seung-gyu, vice chairman of the Korea Bio Association, said the CDMO market requires not only scale but also quality control, skilled operating staff and the ability to respond to regulatory approvals to win sustained orders. “The key is building global competitiveness that matches market demand,” he said.* This article has been translated by AI. 2026-04-07 18:33:00

LG Energy Solution sinks deeper into red with second straight quarterly loss SEOUL, April 07 (AJP) - LG Energy Solution posted a widening operating loss for the first quarter of 2026, marking its second consecutive quarterly deficit as a prolonged slump in global electric vehicle demand and a sharp drop in U.S. tax credits eroded profitability at the world's No. 2 battery maker. The company said in a preliminary regulatory filing on Tuesday that it logged a consolidated operating loss of 207.8 billion won ($138.7 million) for the January to March period, swinging from a 374.7 billion won profit a year earlier and deepening from a 122 billion won loss in the preceding quarter. Revenue slipped 2.5 percent on-year to 6.555 trillion won, dragged down by sluggish North American EV sales and production halts at Ultium Cells, the company's joint-venture plants with General Motors, whose first two facilities suspended operations in early January. ‘ A shift in accounting treatment compounded the decline. LG Energy Solution said it began sharing a portion of the Advanced Manufacturing Production Credit proceeds with customers at standalone and formerly joint-venture plants this year, booking only the net figure as other revenue — a change that effectively reduced the recognized subsidy relative to actual production volumes. Rising costs tied to the ramp-up of five North American energy storage system production sites and elevated expenses stemming from the U.S.-Iran conflict also weighed on results. Industry analysts nonetheless expect the first half to mark the trough. Surging demand for grid-scale and data center-linked ESS batteries, fueled by the global build-out of artificial intelligence infrastructure and power grids, is widely seen as the catalyst for a second-half turnaround. LG Energy Solution has been channeling resources toward the segment, aiming to more than triple ESS-related revenue and to expand global ESS battery production capacity to over 60 gigawatt-hours by the end of 2026. "We plan to raise the combined share of ESS and new businesses from about 20 percent today to the mid-40 percent range, building a more stable and balanced portfolio," CEO Kim Dong-myung said at the company's annual shareholders' meeting in late March. Shares of LG Energy Solution closed at 408,500 won, 0.97 percent lower than the day before. 2026-04-07 17:54:06

LG Arts Center Stages ‘Uncle Vanya’ as Rival National Theater Company Mounts Its Own LG Arts Center and the National Theater Company of Korea will both stage Anton Chekhov’s ‘Uncle Vanya’ in the first half of this year, setting up another close-timed matchup after last year’s dueling productions of ‘Hedda Gabler.’ Director Son Sang-gyu, who is leading LG Arts Center’s version, said at a production news conference on April 7 in Seoul that he welcomed the overlap. “I think it’s a good thing that we interpret the same work differently,” he said. Son said he watched last year’s ‘Hedda Gabler’ faceoff with interest and, after seeing both productions, came away thinking it could be worthwhile to mount the same classic at the same time. He said that after news spread of another head-to-head, he initially brushed off concerns from people asking if he was worried, but has since felt a sense of camaraderie. “They’re working hard, and we’re working hard,” he said. “I find myself cheering them on.” Son said his production will reimagine the play without locking it to a specific era or place, unlike the original set on a 19th-century Russian country estate. He said the staging aims to help audiences connect with a story written about 130 years ago by infusing Chekhov’s text with contemporary emotions and language. Actor Lee Seo-jin will play Vanya, and actor Go A-sung will play his niece, Sonya, in her first stage play since debuting as an actor. Son highlighted a clear difference from the National Theater Company’s approach. “They changed the setting to Korea,” he said. “We didn’t. Even if it’s not radical, we’re looking for ways to express it freshly, without strain, and as freely and effectively as possible.” LG Arts Center Director Lee Hyun-jung said she was surprised to hear the National Theater Company would stage the same work. She said audiences could find it more engaging to watch the two productions back-to-back and compare how each interprets the classic. Son said he saw echoes of his father in Vanya, a man who complains but shoulders responsibility until he finally erupts in anger. He also said Lee Seo-jin’s on-screen persona — grumbling yet reliably completing tasks — made him a strong fit for the role. “My father worked late and retired,” Son said. “Because he had to support the family, he used to say, ‘I’ve never even been able to take a trip.’ Who can judge that kind of life?” He added that ‘Uncle Vanya’ portrays regret over not doing what one wanted and the humiliation that follows, but said it would be wrong to declare the character lived incorrectly. Son said he hopes the production offers comfort by encouraging people to be more forgiving about their own lives, much as one accepts a tree as it is. He said he recently cried while watching the cast rehearse, but described the play as a comedy. “It’s a comedy, but I want to include sadness and emotion, too,” he said. “I want audiences to laugh.” He recalled once seeing a young couple arguing on the street and finding it funny from the outside, even if it was not funny for them. The production runs May 7-31 at LG Arts Center Seoul’s LG Signature Hall. 2026-04-07 17:42:23

KPGA Union Alleges Retaliatory Isolation of Reinstated Workers After Unfair Dismissal Ruling The Korea Professional Golfers' Association, or KPGA, and its labor union are clashing over the return to work of three employees after a provincial labor panel ruled their dismissals were unfair. In a statement Monday, the union said two of the three employees were assigned not to their previous office on the building’s ninth floor but to a separate area set up in a vacant space on the second floor, calling it a “retaliatory isolation placement.” “Reinstatement is not merely a formal act of showing up to work; it requires a normal workplace and working environment to be a real restoration,” the union said. It argued that placing the employees in a separate space amounts to a failure to reinstate them and could constitute additional disadvantageous treatment and “secondary harm.” The union also said the third employee has not been given normal duties and is effectively being excluded from work. The dispute stems from a workplace harassment case involving a senior KPGA executive that surfaced in late 2024. The three employees who were dismissed had provided statements or testimony related to that case, the union said. The executive was sentenced at a first trial to eight months in prison on charges including verbal abuse and personal attacks against an employee. The Gyeonggi Provincial Labor Relations Commission ruled in January that the three dismissals were unfair, and the association carried out reinstatement measures effective March 9, the deadline for compliance. KPGA rejected the union’s claims, saying the ninth-floor office is “extremely cramped” due to existing staffing and cannot physically accommodate all three reinstated employees on the same floor. It said it arranged a seat for one employee on the ninth floor and set up temporary workspaces for the other two in the second-floor vacant area. “The measure was not intended for isolation or retaliation,” KPGA said. On the allegation of work exclusion, KPGA said it has given the reinstated employees routine tasks as well as specific instructions, including securing naming partners. It added that because departments have already completed work assignments for preseason preparations, it is carefully reviewing the best placement for some of the reinstated employees and will put a plan on the board agenda in mid-April. The two sides also dispute whether KPGA Chairman Kim Won-seop refused representative bargaining. The union criticized Kim for declining talks, citing international duties. KPGA said it had legally delegated bargaining authority in advance to the secretary-general and the relevant team leader under labor laws, and said talks attended by the delegated representatives do not amount to avoiding negotiations. With positions hardening, the labor dispute shows signs of dragging on. A proposed written agreement sought by the union, premised on “substantive reinstatement,” fell through, and both sides are pursuing an appeal process at the National Labor Relations Commission. KPGA is also facing internal turmoil. At a regular general meeting held March 31, the 2025 business settlement was rejected and a special audit was approved. The union urged KPGA to stop what it called discrimination and exclusion of reinstated employees, engage in responsible representative bargaining, and take follow-up steps after the unfair dismissal ruling. It also called on the association to ensure fairness and transparency in its operations and resolve internal conflict quickly.* This article has been translated by AI. 2026-04-07 17:39:00

Lee urges bipartisan unity, defends extra budget in meeting with party leaders SEOUL, April 7 (AJP) - President Lee Jae Myung met with leaders of both the ruling and opposition parties on Tuesday, urging bipartisan cooperation and national unity as South Korea faces a major crisis amid the prolonged conflit in the Middle East. At a luncheon meeting at Cheong Wa Dae in central Seoul, Lee said, "Internal unity is especially important when a country faces a crisis." He added that South Korea is in a "major crisis" caused by external factors beyond its control, making it difficult to respond effectively. It was the first time Lee sat down with Jung Chung-rae of the ruling Democratic Party (DP)and PPP leader Jang Dong-hyeok of the main opposition People Power Party (PPP) since their last meeting in September last year. "When we have different views, it's better to meet and talk often," Lee said, adding, "We're not doing this just for a photo-op." Lee then emphasized the need for a supplementary budget, saying it would help ease the burden on those hit hardest by soaring fuel prices. Under the government's 26 trillion won (about US$17 billion) proposal, cash handouts would be provided to those in the bottom 70 percent of the income bracket. He said the funding would come not from new debt or tax hikes, but from higher-than-expected tax revenue. Mindful of criticism that the cash handouts are a populist move to woo voters ahead of local elections scheduled for early June, he said taxpayers' money should be used "fairly and reasonably," adding that the government considers them the most effective form of support. Ahead of the meeting, presidential policy chief Kim Yong‑beom said the proposal was prepared urgently to cope with the Middle East crisis that began with U.S.‑led airstrikes against Iran in late February, but dismissed the possibility of another extra budget. 2026-04-07 17:37:43

Asian stocks edge up as markets brace for Trump's Iran deadline SEOUL, April 07 (AJP) - Asian equities ended mostly higher Tuesday, though gains were limited as investors held back ahead of U.S. President Donald Trump’s self-imposed nighttime deadline for Iran. South Korea’s benchmark KOSPI rose 0.82 percent to 5,494.78 after swinging between gains and losses through the session. The rebound was helped by renewed foreign buying following Samsung Electronics’ blockbuster first-quarter earnings, which placed it among the world’s four most profitable tech companies alongside Apple, Nvidia and Microsoft. Still, hopes for a diplomatic off-ramp faded as Iran showed no sign of yielding despite Trump’s sharpest warning yet, threatening to strike power plants and bridges unless Tehran complies by 8 p.m. U.S. Eastern Time. Reports of Israeli strikes on Iranian infrastructure added to concerns over broader regional escalation and possible energy supply disruptions. Oil prices climbed on those fears. Brent crude rose 1.37 percent and West Texas Intermediate gained 2.3 percent, while the CBOE Volatility Index rose to 24.17, underscoring growing market unease. Foreign investors led late-session buying in Seoul, purchasing a net 406.9 billion won ($270.4 million) worth of shares. Institutions and retail investors were net sellers, offloading 414.1 billion won and 342.6 billion won, respectively. The shift in flows helped the KOSPI recover from earlier weakness. Among major stocks, Samsung Electronics gained 1.8 percent to 196,500 won, while SK hynix climbed 3.4 percent to 916,000 won on continued strength in memory-chip prices. Defense shares also advanced, with Hanwha Aerospace jumping 6 percent amid rising geopolitical tensions. Battery makers were mixed. LG Energy Solution fell 1 percent to 408,500 won after posting a preliminary operating loss of 207.8 billion won, while other secondary battery stocks were comparatively resilient. Automakers edged lower, with Kia slipping 0.5 percent. The tech-heavy KOSDAQ fell 1.02 percent, reversing early gains as retail and institutional investors turned into heavy sellers. Biotech shares dragged on sentiment, with Sam Chun Dang Pharm plunging 16 percent. Global semiconductor sentiment remained firm, with the Philadelphia Semiconductor Index rising 1.2 percent to 7,916.1, reflecting continued optimism over AI-driven chip demand. Elsewhere in Asia, Japan’s Nikkei 225 ended little changed at 53,429.56, while China’s Shanghai Composite added 0.2 percent to 3,886.19. Hong Kong markets remained closed for an extended Easter holiday. The won traded at around 1,504.5 per dollar. 2026-04-07 17:36:32

Samsung vaults into global top tier as AI-driven memory boom turbocharges profits SEOUL, April 07 (AJP) - Its record-smashing first-quarter earnings that nearly matched the full-year income of its previous peak in 2018 place Samsung Electronics among the world’s top five big tech firms and suggest it could even challenge Nvidia in operating profit if the memory supercycle extends into next year. The company on Tuesday estimated its first-quarter operating profit at 57.2 trillion won ($38.0 billion), nearly tripling its previous quarterly high in the October–December period and surpassing its full-year 2025 income of 43.6 trillion won. Revenue reached 133 trillion won. The latest figures place Samsung alongside the world’s most dominant tech firms. Based on recent quarterly results, Apple leads with operating profit of $50.9 billion, followed by Nvidia with $44.3 billion and Microsoft with $38.3 billion. At current exchange rates, Samsung outperforms Google’s parent Alphabet, which reported quarterly operating profit of $35.93 billion. "Samsung is enjoying a dual effect in the memory market," said Lee Jong-hwan, a professor of system semiconductor engineering at Sangmyung University. "As the company shifted its production capacity toward High Bandwidth Memory (HBM), the supply of legacy DRAM naturally decreased, driving up prices significantly amid strong demand." Analysts projected that the bulk of first-quarter profit would come from semiconductors, or the Device Solutions (DS) division, even before the results overwhelmingly beat expectations. Daishin Securities had projected DS operating profit at 41.8 trillion won, out of a total estimated company profit of 45.2 trillion won. Kiwoom Securities offered a similar outlook, estimating the chip division’s profit at 41.3 trillion won. Meritz Securities presented the most bullish domestic forecast, expecting the DS unit to generate 48.9 trillion won in profit—driven by 50.3 trillion won from the memory sector alone—out of a total projected profit of 53.9 trillion won. Citi projected Samsung’s total operating profit to reach 51 trillion won in early April, a sharp increase from Goldman Sachs’ earlier estimate of 40.3 trillion won in March. The rush into high-bandwidth memory (HBM) to train AI systems and run hyperscale data centers has fueled demand across both premium and legacy chips, sending prices sharply higher and giving suppliers stronger pricing power in long-term contracts. DRAM contract prices soared 90 to 95 percent quarter-on-quarter in the first quarter, while NAND prices rose around 60 percent, according to TrendForce, which estimates 58 to 63 percent on-quarter gains in the second quarter and 70 to 75 percent for NAND flash. Samsung is the dominant supplier of both DRAM and NAND flash. "As global big tech companies seek to develop their own custom AI chips, TSMC’s limited capacity will inevitably lead to spillover orders for Samsung," Lee said. "As the only tech giant handling both memory and foundry businesses, Samsung is entering a phase where both sectors can expand simultaneously." Analysts emphasize that this surge is a direct result of explosive growth in AI infrastructure. "We assume that the year-on-year growth rate of capital expenditure by big tech companies will be revised upward to 92 percent, in which case DRAM demand growth this year will reach 20.3 percent," said Song Myung-sup, an analyst at iM Securities. This immense profitability provides a critical buffer for Samsung’s aggressive investment strategy, with capital expenditure projected to reach 114.3 trillion won by 2026. Even amid geopolitical tensions, the structural stability of the company’s core projects remains intact. "Considering the stability of payment collection for group captive projects, the actual risk of bad debt is limited," said Ryu Tae-hwan, an analyst at Eugene Investment & Securities. According to market consensus data from FnGuide, Samsung’s total annual operating profit for 2026 is projected to reach 227.3 trillion won. Some estimates have been revised upward following the first-quarter results. KB Securities projected Samsung’s operating profit at 327 trillion won this year and 488 trillion won in 2027, closely chasing Nvidia’s 357 trillion won and 485 trillion won, respectively, in the brokerage's estimate. Paled in comparison, Korea’s home appliance rival LG Electronics also reported stronger-than-expected first-quarter results, highlighting the resilience of the country’s tech sector. The company estimated operating profit at 1.67 trillion won ($1.24 billion), up 32.9 percent on-year and well above market consensus. Revenue rose 4.4 percent to a quarterly record of 23.73 trillion won, supported by demand for premium home appliances and steady growth in its vehicle components division. Both Samsung and LG will release finalized results later this month. Shares of Samsung Electronics closed Tuesday up 1.45 percent at 195,900 won on Tuesday. Cross-town memory rival SK hynix also saw strong gains, jumping 3.16 percent to finish at 914,000 won. 2026-04-07 17:31:09

Another bio boom burst looms over KOSDAQ SEOUL, April 07 (AJP) - Boom-and-bust cycles have long defined Korea’s bio stocks, and the latest episode has unfolded around generic and specialty drugmaker Sam Chun Dang Pharm. Sam Chun Dang closed Tuesday at 519,000 won ($345), down 16.02 percent on the day. From its closing high of 1.184 million won on March 30, the stock has plunged more than 56 percent — a sharp reversal after an earlier surge of nearly 400 percent from around 270,000 won at the start of the year. At the center of the rise and fall is the company’s oral obesity treatment. Suspicions of market manipulation have intensified following reports that the majority shareholder filed to sell a significant stake, only to abruptly cancel the plan. The episode comes as the South Korean government’s ambitious “KOSDAQ 3,000” target continues to be weighed down by repeated collapses in speculative theme stocks. The surge in Sam Chun Dang’s shares began in late February, fueled by a string of announcements on exclusive licensing deals. On Feb. 26, the stock jumped nearly 30 percent to 757,000 won after the company disclosed a partnership with a European pharmaceutical firm for its GLP-1 diabetes and obesity treatment. GLP-1 drugs — such as Eli Lilly’s Mounjaro and Novo Nordisk’s Wegovy — are typically administered through weekly injections. Sam Chun Dang’s pitch was a more convenient pill-based alternative, a narrative that quickly captured market attention. But after the stock peaked on March 30, cracks began to appear. Questions emerged over the identity of its European and U.S. partners. Sentiment deteriorated further when it was revealed that the company had bypassed the official disclosure system (KIND), instead releasing earnings forecasts through press channels. At the same time, its R&D spending was found to be declining despite the high-profile project. Concerns deepened when it was disclosed that CEO Jeon In-seok had attempted to sell 250 billion won worth of shares on March 24. Jeon pushed back, threatening legal action against bloggers and analysts at iM Securities who raised doubts, and even presenting purported U.S. FDA approval documents at a press conference on Monday. The efforts, however, failed to restore investor confidence. On March 31, the Korea Exchange (KRX) designated Sam Chun Dang as a potential “unfaithful disclosure corporation.” If found to have acted intentionally in bad faith, the company could face penalty points that may ultimately trigger a delisting review. The fallout has rippled across the broader biotech sector. On March 31, as Sam Chun Dang plunged 30 percent and lost its position as the top KOSDAQ stock, Celltrion Pharm fell 3.9 percent to 54,800 won, while ABL Bio dropped 3.3 percent to 165,000 won. Both remained weak or flat in Tuesday’s morning session. The market’s sensitivity reflects a long memory. The most prominent case remains SillaJen, which soared from 10,000 won in 2016 to 160,000 won in 2018 on expectations for its liver cancer treatment Pexa-Vec, only to collapse 30 percent in a single day in August 2019 after Phase 3 trial failure and insider trading allegations. The shock dragged the entire KOSDAQ down 3.7 percent that day. Other names — including Helixmith, Kolon TissueGene and Shin Poong Pharm — have also seen sharp declines or delisting risks tied to overstated R&D claims or governance issues, leaving a lingering trust deficit in the sector. Market experts warn that such speculative swings remain a structural hurdle to President Lee Jae Myung’s goal of lifting the KOSDAQ to 3,000. “Bio stocks tend to surge on any sign of clinical success, especially with the global pharmaceutical market expected to reach $3 trillion by 2030,” said a securities researcher who requested anonymity due to concerns over potential litigation. “The success of Eli Lilly and Novo Nordisk has pushed expectations to extremes,” he added. Another industry official stressed that hitting the 3,000 mark will require more than momentum-driven rallies. “While the KOSPI is anchored by dependable heavyweights like Samsung Electronics and SK hynix, leadership on the KOSDAQ remains fluid and fragile,” he said. Indeed, the top spot on the KOSDAQ has already changed hands three times in the first quarter of 2026 alone — rotating among EcoPro, Alteogen, EcoPro BM and Sam Chun Dang Pharm. 2026-04-07 17:07:49