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SK Biopharm Reaches First Settlement in US Patent Lawsuit Over Xcopri SK Biopharm announced it has reached a settlement with Indian generic developer MSN Laboratories regarding a U.S. patent lawsuit over its epilepsy drug, Cenobamate, marketed in the U.S. as Xcopri. According to SK Biopharm, the two companies agreed to grant MSN the right to launch future generic products under certain conditions related to patent protection. The specific terms of the settlement were not disclosed. This agreement concludes the patent lawsuit pending in the U.S. District Court for the District of Delaware. The lawsuit was centered on a dispute over follow-on patents rather than the substance patent for Cenobamate. SK Biopharm explained that this settlement allows it to maintain patent protection for Xcopri even after the substance patent expires in 2032. However, the actual launch date of the generic product will depend on regulatory approval from U.S. authorities and undisclosed terms between the two companies. SK Biopharm is currently involved in patent litigation with two other companies. A company representative stated, "This first settlement helps us solidify our foundation for continued growth and maintain our market position." Additionally, according to a disclosure regarding a 'single sales and supply contract,' SK Biopharm has signed a supply agreement for Xcopri with its U.S. subsidiary, SK Life Science. The contract is valued at 99.4 billion won, which represents 14.1% of the consolidated revenue of 706.7 billion won for the year 2025. This large supply contract marks the sixth of its kind this year, bringing the total cumulative contract value to 381.2 billion won.* This article has been translated by AI. 2026-08-19 10:24:00 -
Hanwha K9 Enters U.S. Market with $262.9 Million Contract The U.S. Army has selected Hanwha Aerospace as the developer for its next-generation self-propelled howitzer prototypes. This marks a significant milestone as it represents the first export of South Korean military systems to the U.S. market, widely regarded as the strongest in the world, surpassing competitors from Germany and the U.K. Analysts suggest that this achievement contributes to strengthening the South Korea-U.S. alliance, following the business philosophy of Hanwha Group Chairman Kim Seung-yeon and Vice Chairman Kim Dong-kwan.On August 19, Hanwha Aerospace announced that its subsidiary, Hanwha Defense USA, has signed a contract to supply six K9 self-propelled howitzer (K9MH) prototypes to the U.S. Army. This contract marks Hanwha's first delivery of howitzers to the U.S. military.After 76 years since the U.S. provided artillery support to South Korea during the Korean War, South Korea is now supporting the rebuilding of U.S. artillery capabilities.The K9 howitzer is the main artillery system for South Korean forces, deployed in both front-line and rear divisions. It is also in operation in over ten countries, including Turkey, Norway, India, and Egypt.In the bidding process, Hanwha outperformed global defense companies such as Elbit America, which included competitors like Anduril and Oshkosh Defense, as well as Rheinmetall, BAE Systems, and Leonardo.The contract is valued at $103 million (approximately 141.7 billion won) over four years, with the U.S. Department of Defense adding an option for an additional 12 units. If the total supply reaches 18 units, the overall contract value could rise to approximately $262.9 million (370 billion won).The U.S. Army plans to evaluate the performance, reliability, and maintainability of the K9 through operational tests simulating actual combat conditions. Once finalized, the K9 will replace the M777 towed howitzers currently in use by U.S. Army units.This contract not only validates the competitiveness of the K9 but also establishes a foothold for Hanwha in the U.S. market. The achievement is particularly significant amid growing uncertainties regarding security issues between South Korea and the U.S., especially after President Donald Trump directed a significant reduction in the recent joint military exercise, Ulchi Freedom Shield (UFS).Since the 2020s, the U.S. has been pursuing a development project for a new self-propelled howitzer equipped with advanced artillery systems (ERCA). Due to deteriorating international conditions, the need for long-range troop and equipment deployment has led to a shift towards acquiring more mobile wheeled self-propelled howitzers.Hanwha Aerospace and the Defense Acquisition Program Administration have closely collaborated from the early stages of the project through to the final contract, sharing key issues regularly. They maintained swift discussions and government-level support right up to the final stages of securing the contract.This contract reflects the extensive network that Chairman Kim Seung-yeon has built in the U.S. over many years, as well as his philosophy of 'business for the country.' He has consistently emphasized the importance of viewing defense as a critical national industry and fostering it as a global export industry rather than limiting it to domestic markets.Vice Chairman Kim Dong-kwan identified the opportunity for this project when the U.S. Army's budget proposal, announced in March 2024, included funding for wheeled self-propelled howitzers. Subsequently, Hanwha began the development of the K9MH aimed at the U.S. market.A Hanwha Aerospace official stated, "This contract is a significant achievement for the K9 howitzer's entry into the world's largest defense market and represents a new chapter in the South Korea-U.S. alliance, where South Korean military systems will help protect the U.S. We will establish a stable production base in the U.S. through a differentiated localization strategy." 2026-08-19 10:24:00
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KOSPI plunges 7% as sell sidecar triggered SEOUL, August 19 (AJP) - South Korean stocks plunged on Wednesday, triggering a sell-side trading curb as surging global bond yields battered chip shares. The Korea Exchange activated a sell-side sidecar at 9:06 a.m. after KOSPI 200 futures fell 6.02 percent from the previous session's reference price. The benchmark KOSPI was down 6.74 percent at 6,407.14 at the time. The sidecar temporarily halts program sell orders for five minutes when KOSPI 200 futures fall at least 5 percent and remain at that level for one minute. Samsung Electronics and SK hynix led the retreat. As of around 9:30 a.m., Samsung Electronics was down 7.45 percent at 248,500 won, while SK hynix sank 9.09 percent to 1.51 million won. The selloff spread to other large-cap stocks. Hyundai Motor dropped 6.09 percent to 408,500 won, while Samsung Electro-Mechanics fell 4.38 percent to 1.377 million won. The losses followed a sharp retreat in U.S. technology stocks overnight as rising oil prices and a global bond selloff pushed long-term borrowing costs higher. The Philadelphia Semiconductor Index tumbled 5 percent, while Micron Technology fell 7 percent and Nvidia lost 2.3 percent. The Nasdaq Composite closed 1.33 percent lower. The yield on the 30-year U.S. Treasury touched 5.33 percent, its highest level since 2007, while the benchmark 10-year yield climbed to around 4.74 percent. Concerns over inflation, fiscal spending and heavy debt issuance have added pressure to global bond markets. Borrowing by major technology companies to finance artificial intelligence infrastructure has also added to bond supply. Investors have pointed to competition for capital from AI hyperscalers as one factor keeping long-term Treasury yields elevated. Bond-market pressure has also intensified in Japan. The benchmark 10-year Japanese government bond yield touched 2.945 percent Tuesday, its highest level since September 1996, amid inflation concerns and expectations for further Bank of Japan tightening. Japanese equities followed Wall Street and Seoul lower Wednesday, with the Nikkei 225 down about 2.9 percent at 65,566.52. The won traded around 1,410 per dollar, up 0.25 percent against the U.S. currency. AJP Takeaways · The KOSPI fell 6.74% shortly after Wednesday's open, triggering a sell-side sidecar at 9:06 a.m. · Samsung Electronics dropped 7.45% and SK hynix sank 9.09% as of 9:25 a.m. · The rout followed a 5% plunge in U.S. semiconductor shares as long-term Treasury yields surged. · Japan joined the regional selloff, with the Nikkei 225 down about 2.9% in early trading. 2026-08-19 10:20:36 -
KB Kookmin Certificate Users Exceed 18 Million, Gaining 1 Million in a Year The number of users of KB Kookmin Bank's private certification service, the 'Kookmin Certificate,' has surpassed 18 million. KB Kookmin Bank announced on August 19 that the cumulative number of Kookmin Certificate users has exceeded 18 million, marking an increase of 1 million users since surpassing 17 million last August. The Kookmin Certificate can be issued without visiting a branch, as long as users have a smart device registered in their name and an identification card. It is utilized for simple authentication, electronic signatures, and identity verification through the KB Star Banking app. The service's usage has expanded beyond the financial sector to include both public and private domains. It is currently accepted by public institutions such as the National Tax Service's Home Tax, Government 24, and the National Health Insurance Corporation, as well as for public services like housing subscriptions and pension inquiries. It is also applicable on private platforms related to shopping, entertainment, and healthcare. Major affiliates of KB Financial Group, including KB Securities, KB Insurance, and KB Kookmin Card, allow the use of the Kookmin Certificate without requiring separate authentication methods. KB Kookmin Bank has implemented encryption technology and anti-theft systems throughout the entire process of certificate issuance and usage. It also offers authentication features using biometric methods such as fingerprints and Face ID, as well as simple passwords. A representative from KB Kookmin Bank stated, "The Kookmin Certificate is expanding its application beyond financial transactions into public and private sectors. We will continue to enhance customer convenience and usability by expanding partnerships with various institutions."* This article has been translated by AI. 2026-08-19 10:20:00
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Ruling Party Says Discussions on Yongsan Park Development Have Not Started The Democratic Party stated on August 19 that discussions regarding the development of Yongsan Park have not yet begun. However, it remains open to the possibility of amending the Yongsan Park Special Act.Bok Gi-wang, the Democratic Party's representative on the Land Committee, spoke to reporters after a government-party council meeting at the National Assembly, saying, "The Yongsan Park Act currently includes a proposal to reduce green space related to Camp Kim. If there is additional capacity for development, discussions can start now."Kim Young-bae, head of the Seoul City Party, also addressed the Yongsan Park Special Act on MBC Radio's 'Kim Jong-bae's Focus,' stating, "It is specified that it cannot be used for purposes other than a park." He added, "In 2006, the need for housing policies for one- and two-person households was not as high. Depending on the times, social consensus on public land and public purposes is necessary."He further explained, "I believe some amendments can be made based on discussions. A bill for partial amendments to the special act regarding scattered sites like Camp Kim and the UN Command area has already passed the Legislation and Judiciary Committee." He clarified that the bill would allow for some initial maintenance of the site but does not pertain to the main park area, which covers 910,000 pyeong.* This article has been translated by AI. 2026-08-19 10:16:00
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South Korea, US cut short joint exercise after Trump order SEOUL, August 19 (AJP) - South Korea and the U.S. will end their annual Ulchi Freedom Shield (UFS) exercise nearly a week earlier than planned, Seoul's Joint Chiefs of Staff (JCS) said on Wednesday. The development follows U.S. President Donald Trump's order to scale back the exercise. The JCS said the allies agreed to adjust the UFS schedule to run from Aug. 17 through Aug. 21. The exercise had originally been scheduled to continue through Aug. 27. The decision came after Trump said last Sunday that he had instructed the Pentagon to "substantially" reduce the exercise with South Korea. The allies will also scale back some of combined field-training drills as part of the UFS exercise, while Seoul and Washington continue to discuss further details. South Korea and the U.S. had initially planned about 14 such drills at the battalion level or above during this year's UFS. The annual exercise, which began Monday with about 18,000 South Korean troops participating, is designed to strengthen the allies' combined defense posture and rehearse responses to potential security contingencies on the Korean Peninsula. 2026-08-19 10:15:07 -
LG Electronics brings next-gen 5G to European cars in SDV push SEOUL, August 19 (AJP) - LG Electronics has begun supplying its latest 5G telematics technology for a mass-produced vehicle in Europe, marking the region's first deployment of the R16 standard as the Korean electronics maker strengthens its position in the shift toward software- and AI-defined vehicles. The company said Wednesday its new smart telematics solution has been installed in a European automaker's production model, though it did not identify the customer or vehicle. The system is based on 5G Release 16, or R16, the second major 5G standard designed to improve reliability and reduce latency over the earlier R15 specification. LG said the system achieves a data error rate of 0.001 percent and transmission latency of 1 millisecond between the telematics module and base station, representing improvements of 100 times and five times, respectively, over 4G technology. Those capabilities are becoming increasingly important as vehicles evolve into software-defined vehicles, or SDVs, and AI-defined vehicles, or AIDVs, which require large volumes of data to be exchanged quickly and reliably. The technology supports over-the-air software updates, vehicle-to-everything, or V2X, communication and large-scale data transmission for autonomous driving systems. Lower latency and higher reliability are particularly important for autonomous driving, where vehicles must rapidly exchange information with surrounding infrastructure and other devices. LG has also integrated the communications module and as many as 12 antennas into a single unit, replacing conventional systems in which antennas are distributed across different parts of a vehicle. The company said the design reduces signal loss, wiring and installation space while potentially lowering costs for automakers. The rollout builds on LG's existing position in automotive telematics, where it holds the largest global market share based on estimates from TechInsights. The company has been expanding its automotive portfolio beyond infotainment into connectivity, in-cabin sensing and software platforms as vehicles become increasingly software-driven. LG also joined the Global 6G Coalition in March to participate in standards development and system verification as the automotive industry begins preparing for the next generation of wireless connectivity. "We will continue to introduce innovative solutions in automotive communications, which has become a key competitive area in mobility, and further strengthen our telematics market leadership in the transition from SDVs to AIDVs," said Eun Seok-hyun, head of LG Electronics' Vehicle Solution business. AJP Takeaways LG has deployed 5G R16 telematics in a mass-produced European vehicle for the first time in the region, bringing lower latency and greater data reliability to connected cars. The system combines a communications module with up to 12 antennas and supports OTA updates, V2X communication and data-intensive autonomous-driving functions. The rollout strengthens LG's push beyond automotive infotainment into the connectivity infrastructure needed for software- and AI-defined vehicles. 2026-08-19 10:13:23 -
Hana Tour Launches New Strategy Under CEO Cho Jwa-jin, Focusing on Premium Travel and AI Hana Tour is set to expand its premium travel offerings and the inbound tourism market for foreign visitors under the leadership of new CEO Cho Jwa-jin. The company aims to broaden its business scope beyond traditional travel product sales and enhance services tailored to customer preferences and travel purposes, thereby securing new revenue streams.On August 18, Cho presented the mid- to long-term strategy, titled 'Hana Tour Chapter 2,' to employees at the company's headquarters in Jongno, Seoul.The core strategies outlined by Cho include: strengthening premium themed travel, developing an inbound platform based on K-culture, and implementing AI-driven digital innovation.First, the company will intensify its focus on the premium travel market. It plans to expand themed products that reflect customer interests and enhance services throughout the entire process, from product planning to post-travel management. The goal is to offer differentiated products and services aimed at premium customers, who tend to have higher repurchase rates and loyalty.Hana Tour will also actively pursue inbound business targeting foreign tourists. The company plans to expand its offerings centered around K-culture content, which has high demand overseas, including medical and beauty services, performances, gourmet experiences, and shopping.Utilizing its domestic and international customer touchpoints, platforms, and local operational capabilities, Hana Tour aims to connect services that foreign tourists can use before arriving in Korea, during their stay, and after returning home, thereby broadening its inbound business scope.AI will be applied across the business, from product planning to customer consultations and targeted marketing. This approach is expected to enhance operational efficiency while providing personalized services that reflect individual customer preferences and travel demands, aiming for both growth and improved profitability.This strategy marks Cho's first mid- to long-term business plan since taking office. A graduate of Seoul National University with a degree in economics, Cho has accumulated approximately 35 years of experience in global consulting and the finance and card industries, leading initiatives in data-driven customer experience design and premium brand development.Recently, Hana Tour introduced an executive officer system and appointed Cho as the representative executive officer. He plans to implement this strategy based on the company's travel business capabilities and customer data.Cho stated, "Our first question should not be 'Where to go?' but 'For whom and for what purpose is the travel?' From now on, Hana Tour will transform from a company that knows the most about travel destinations to one that understands its customers the best."* This article has been translated by AI. 2026-08-19 10:12:10
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High-Protein Tuna, Hanwoo Beef, and Chicken: Early Selections for Chuseok Gifts As rising prices and a focus on health and value consumption converge, the food and restaurant industries are moving early to capture demand for Chuseok gifts this year. Companies are diversifying their offerings, which include health-oriented products like high-protein and low-sugar items, popular home meal replacements (HMR), and premium Hanwoo beef, while enhancing purchase benefits such as pre-order discounts and online exclusive products.According to industry sources on August 19, Daesang Cheongjeongwon has launched 21 online exclusive Chuseok gift sets in collaboration with graphic artist Cha In-cheol. The sets feature versatile products such as canned ham, oils, seasonings, and sauces, all packaged with Cha's distinctive colors and drawings. These gift sets are available on major online platforms including Cheongjeongwon's Naver brand store, Gmarket, and Coupang. Some channels are also offering a chance to win reusable bags designed by Cha for customers who make purchases.Dongwon F&B has introduced over 110 Chuseok gift sets focused on health. Reflecting increased interest in protein-rich foods, the company has expanded its tuna gift set offerings by about 20% compared to last year. New products include 'Protein 30,' which contains 30 grams of protein, and 'Low Sodium Yellowfin Tuna,' which has 70% less sodium. The sets also include items targeting health and low-sugar trends, such as avocado oil and allulose.Products that leverage characters and celebrities are also notable. Dongwon F&B has launched the 'Dongwon Tuna Line Friends Edition,' featuring popular characters on the packaging, and is selling the 'BTS Jin Super Tuna Gift Set,' which includes a photo of BTS member Jin on the tuna can. The BTS Jin gift set sold over 40,000 units during last year's Chuseok and Seollal holidays.BBQ has bundled popular home meal replacements (HMR) into its holiday gift offerings, capitalizing on strong online sales. The 'Dundun Set' includes five products such as consomme chicken breast, fried chicken, and oven-roasted chicken thighs. Other options include the 'Golden Han Sang Set,' which features soups, stews, and grilled items, and the 'Gamsamyeongga Set,' which contains a total of 13 products. The recently popular 'Oven-Roasted Chicken Thighs' are included in all three sets, which are designed for use as meals or snacks even after the holiday.Premium gift offerings are also on the rise. Changgo43 has prepared eight types of Hanwoo gift sets, including 1++ grade sirloin, tenderloin, and striploin, as well as marinated short ribs and handmade jerky. The Hanwoo products are categorized into 'Masterpiece' and 'Premium' sets, which include sirloin, tenderloin, and striploin, and are available in two sizes: 1.8 kg and 900 g. This year, an early bird promotion has been introduced, offering a 10% discount for purchases of five or more gift sets until August 31. Customers who buy five or more grilling sets will also receive handmade Hanwoo jerky as a gift.Olga Whole Foods is emphasizing organic, eco-friendly, and premium products. Their offerings include sets featuring organic extra virgin olive oil, organic rice from Jindo, antibiotic-free 1+ grade Hanwoo beef, and shiitake mushrooms. The olive oil is made from single varieties of Picual and Arbequina, cold-pressed within two hours of harvest. The sets also include more accessible gift options like granola, nuts, and traditional rice cakes. Customers who pre-order by September 3 can receive discounts of up to 40%.* This article has been translated by AI. 2026-08-19 10:12:00
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Emergency Fire Truck Training Scheduled in Gwangju on August 20 Emergency fire truck yielding training will take place in Gwangju. The Gwangju Metropolitan Fire Department announced that it will conduct a nationwide "Emergency Fire Truck Yielding Training" in conjunction with civil defense drills at 27 locations in Gwangju on August 20. At 2 p.m. that day, when the civil defense siren sounds, fire trucks will respond in real scenarios for 20 minutes on major roads, including traditional markets, intersections, and areas prone to congestion. Pedestrians are required to pause at crosswalks, regardless of pedestrian signals, to allow emergency vehicles to pass. Drivers must pull over to the right edge of the road and stop on single-lane roads and intersections. On two-lane roads, drivers should move to the second lane to allow emergency vehicles to pass in the first lane, and on roads with three or more lanes, they should shift to the first and third lanes to enable emergency vehicles to access the center lane. Yielding to responding fire trucks is a legal obligation and a fundamental promise to protect the lives of others. Failure to yield or obstructing fire truck passage may result in fines of up to 2 million won under the Fire Services Act. The Fire Department aims to secure the golden time (within 5 minutes) for reaching disaster sites for fires, rescues, and medical emergencies, and will continue to promote guidelines for drivers to yield quickly and correctly when encountering emergency vehicles.* This article has been translated by AI. 2026-08-19 10:12:00