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HLB Shares Rise 8% on FDA Approval Hopes for Cholangiocarcinoma Drug HLB is experiencing strong gains in early trading due to expectations surrounding FDA approval for its cholangiocarcinoma treatment. As of 9:30 a.m. on July 24, HLB shares were trading at 32,650 won, up 2,650 won (8.83%) from the previous trading day. The company announced that its U.S. subsidiary, Elevate Therapeutics, successfully completed a late-cycle meeting with the FDA regarding the approval review of the FGFR2-targeted cancer drug, liraglutide, without any significant issues. This meeting is part of the final stages of the approval process, where remaining concerns are addressed, and labeling and post-marketing plans are coordinated. HLB stated that there have been no significant disagreements with the FDA during the review process, and no new review issues that could affect approval have been raised. The pre-approval inspection status of the manufacturing facilities for both the active pharmaceutical ingredient and the finished product was not specifically mentioned in this meeting. Liraglutide is an oral targeted cancer drug that selectively inhibits FGFR2. It was designated as an orphan drug by the FDA in 2022, received breakthrough therapy designation in 2023, and was selected for priority review this year. The FDA's decision on approval is expected by September 25. Dong-geun Kim, CEO of Elevate, stated, "This meeting confirmed that the approval review for liraglutide is in its final stages. Since there have been no significant disagreements with the FDA so far, we will ensure that subsequent procedures are completed smoothly ahead of the approval decision in September." Recently, HLB's stock price has shown significant volatility due to new drug approval issues. On July 10, the company’s liver cancer drug, ribociclib, received a Complete Response Letter (CRL) from the FDA, leading to two consecutive days of trading at the lower limit. However, following news that concerns regarding the manufacturing facilities had largely been resolved, the stock rebounded to the upper limit on July 15. Additionally, HLB Group executives have been actively buying back shares, emphasizing their commitment to responsible management. Chairman Jin Yang-gon has purchased over 1.1 million shares of affiliate stocks in 50 transactions this year, and other affiliate representatives have also been buying back shares. HLB stated, "The voluntary share purchases by affiliate executives demonstrate our commitment to strengthening responsible management and enhancing corporate and shareholder value, unaffected by short-term market fluctuations."* This article has been translated by AI. 2026-07-24 10:00:00 -
U.S. Maintains South Korea on Currency Monitoring List Amid Weak Won The U.S. government has kept South Korea on its currency monitoring list. According to a semiannual currency report submitted to Congress by the U.S. Treasury on July 23, South Korea is included in the list alongside China, Japan, Taiwan, Singapore, Vietnam, and Germany. A total of 10 countries were listed, the same as in the January report. The Treasury evaluates major trading partners based on their trade surpluses with the U.S., the balance of payments from international transactions, and government intervention in currency markets. South Korea met two criteria: a trade surplus with the U.S. and a current account surplus. Last year, South Korea's current account surplus was 6.6% of its gross domestic product (GDP), an increase from 5.3% in 2024, driven by rising exports of technology products, including semiconductors. However, the value of the won has weakened. The Treasury noted, “While dollars flowed into the country from exports, significant overseas stock investments by the National Pension Service and individual investors led to a substantial outflow of dollars.” The increase in overseas stock holdings by the government sector, including the National Pension Service, surged from $8 billion in 2024 to $41 billion last year. The Treasury assessed that “a significant portion of these investments were not hedged against currency fluctuations, increasing downward pressure on the won.” Investments in overseas stocks by financial companies and individuals also more than doubled, rising from $34 billion in 2024 to $73 billion last year. Individual investors alone purchased over $30 billion in overseas stocks last year. To buy overseas stocks, investors must convert won to dollars. An increase in overseas stock investments raises demand for dollars, which can exert downward pressure on the value of the won. South Korea's foreign exchange authorities intervened in the market to prevent a rapid decline in the won's value. The Treasury reported that “Korean authorities net sold $28 billion in the foreign exchange market last year, with $22.5 billion concentrated in the fourth quarter when the exchange rate surged.” The Treasury emphasized that these measures were not intended to artificially lower the value of the won but were responses to reduce sharp fluctuations in the exchange rate. South Korea was removed from the currency monitoring list in November 2023 but was reinstated in November 2024 and has maintained its status since then.* This article has been translated by AI. 2026-07-24 09:56:00
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DeepSeek Founder Predicts Chinese Chips Will Replace Nvidia Within a Year The founder of Chinese AI company DeepSeek has predicted that within a year, Chinese-made AI semiconductors will sufficiently replace Nvidia chips.Liang Wenfeng, founder of DeepSeek, expressed his views during a private meeting with investors in May. His comments have recently circulated on Chinese social media, with reports from various Chinese outlets, including Meirijingjixinwen. Liang is known for his limited interactions with the media, making these remarks particularly noteworthy in China.Liang stated, "Chinese AI semiconductors are currently facing a historic opportunity," adding that in the past, there were challenges in using Chinese AI semiconductors even after purchase. He noted that the incompatibility of Chinese AI semiconductors with Nvidia's CUDA ecosystem made software development significantly more difficult.He explained, "The biggest issue was that China's AI software ecosystem was not well-developed, but now, with advancements in AI, the ecosystem in China is rapidly growing. The advantages of Nvidia's CUDA will soon be neutralized." He further asserted, "In the next year, we will find that the Chinese semiconductor ecosystem will be entirely viable, and we will realize that Chinese AI semiconductors are sufficiently usable."This suggests that while the performance of Chinese AI chips may not surpass that of Nvidia chips, they will be capable of operating effectively without relying on the Nvidia CUDA ecosystem. This can be interpreted as a strategy to develop software using the CUDA ecosystem and then adjust it for Chinese semiconductors using coding AI.Regarding the AI competition between the U.S. and China, Liang remarked, "The U.S. has a more advanced AI industry than China due to talent, differences in large language models, and software. Ultimately, these differences stem from disparities in computing resources." This statement implies that the U.S. has a significant advantage in GPU availability compared to China.Liang predicted, "In the global AI market, China will ultimately adopt a cost-effective strategy. As the number of GPUs in China increases and power generation capacity expands, China will be able to offer AI services at even lower prices."He emphasized, "DeepSeek is currently focusing on coding agents as a primary direction, with the long-term goal of building AGI (Artificial General Intelligence)." He elaborated, "The core mission of DeepSeek is to realize AGI, and everything else is secondary. We will achieve AGI through continuous learning and self-reinforcement of AI after coding agents." He also stated, "DeepSeek will not pursue maximum profits but will only charge reasonable costs." 2026-07-24 09:56:00
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Dongkuk Pharmaceutical Launches Dermatology Advisory Group for Madecassol Labs Dongkuk Pharmaceutical is accelerating the development of its science-based dermatological brand, Madecassol Labs, in collaboration with a dermatology advisory group. The company aims to expand its existing dermatological business, centered around its Centellian24 line, into high-performance skincare products for hospitals and clinics.According to Dongkuk Pharmaceutical, the Madecassol Labs brand is being developed in partnership with a dermatology advisory group and is set to launch in the first half of next year. The product line will address various skin concerns, including strengthening the skin barrier, caring for sensitive skin, post-procedure home care, and managing skin conditions. The brand will combine the company's accumulated research and development (R&D) capabilities with clinical expertise to enhance scientific credibility.To facilitate this, Dongkuk Pharmaceutical established a dermatology advisory group on June 13, consisting of five dermatologists: Yoon Chun-sik, director of Yemiwon Dermatology; Park Ji-ho, director of Oaro Dermatology; Park Young-woon, director of Villa Skin Dermatology; Lee Mi-hye, director of Liwon Dermatology; and Kim Sang-yeop, director of JF Cell Dermatology.During the inaugural meeting, Dongkuk Pharmaceutical shared its 50 years of experience in plant-based ingredient R&D and discussed high-performance skincare solutions suitable for hospital and clinic channels with the advisory group. Notably, discussions focused on the skin action mechanisms and formulation development centered around TECA (Titrated Extract of Centella Asiatica), a key ingredient derived from the centella plant.The advisory group will participate in all stages of product development, including core ingredient design, complete ingredient composition, formulation testing, and user experience evaluation, through regular meetings.A representative from Dongkuk Pharmaceutical's dermatological team stated, "The establishment of this advisory group is the first step toward creating a high-performance skincare brand. We will prepare to present reliable skincare solutions in hospital and clinic channels based on Dongkuk Pharmaceutical's dermatological research capabilities and the expertise of dermatologists."Meanwhile, according to the Korea Corporate Reputation Research Institute, the domestic dermatological market is estimated to be worth approximately 5.5 trillion won. While the traditional cosmetics market has stagnated over the past five years, the dermatological market has seen nearly tenfold growth.* This article has been translated by AI. 2026-07-24 09:52:00
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Exchange Rate Fluctuates Around 1,470 Won Amid Middle East Tensions and Rising Oil Prices The won-dollar exchange rate is fluctuating around 1,470 won.As of 9:30 a.m. on July 24 in the Seoul foreign exchange market, the exchange rate stands at 1,471.7 won per U.S. dollar. The rate opened at 1,475.5 won, up 8.7 won from the previous session as of 6 a.m.The rate had dropped to 1,461.5 won the previous day but rose again during overnight trading. This increase is attributed to heightened tensions in the Middle East, which have led to rising international oil prices and a stronger dollar index.With navigation through the Strait of Hormuz effectively halted, concerns are growing that the Bab al-Mandab Strait could also be blocked, contributing to the rise in international oil prices.September futures for Brent crude surged 7.04% to close at $100.69 per barrel, while September futures for West Texas Intermediate (WTI) rose 6.17% to $92.19 per barrel.U.S. stock markets fell overnight. The Dow Jones Industrial Average closed down 506.93 points (0.97%) at 51,711.65.The Standard & Poor's 500 index dropped 90.66 points (1.21%) to finish at 7,408.30, and the Nasdaq Composite fell 553.21 points (2.15%) to close at 25,137.69.The dollar index, which measures the value of the dollar against six major currencies, rose 0.312% to 101.437.The exchange rate is expected to rise today due to the strength of the dollar. Min Kyung-won, an economist at Woori Bank, stated, "Today, the won-dollar exchange rate is expected to rise as it absorbs the global preference for a strong dollar triggered by rising international oil prices."He added, "As military tensions in the Middle East escalate, we are seeing a resurgence of the trio of rising international oil prices, increasing U.S. Treasury yields, and a strong dollar, which has been frequently observed in the first half of the year. The simultaneous decline of major indices is also increasing the burden of weakness on the risk-sensitive won."* This article has been translated by AI. 2026-07-24 09:48:00
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Min Hong-cheol, Kang Min-guk, and Lee Gi-heon to Attend Peru Presidential Inauguration President Lee Jae-myung will send a special envoy delegation to attend the inauguration of Peru's new president, Keiko Fujimori, on July 28.According to the Blue House on July 24, the delegation, consisting of Min Hong-cheol, chairman of the Korea-Peru Parliamentary Friendship Association, along with lawmakers Kang Min-guk and Lee Gi-heon, will explain the South Korean government's national philosophy and foreign policy to their Peruvian counterparts.The delegation plans to deliver a message from President Lee regarding the development of a comprehensive strategic partnership with the new Peruvian government, along with a letter from the president.Additionally, they will participate in inauguration-related events, including a reception hosted by Peruvian Foreign Minister Carlos Pareja for delegations from various countries and a reception hosted by President Fujimori. This aims to convey South Korea's commitment to deepening defense and security cooperation with Peru, its largest defense cooperation partner in South America.The Blue House stated, "The special envoy delegation will exchange in-depth opinions on enhancing economic cooperation between the two countries, which has developed based on the Korea-Peru Free Trade Agreement (FTA), and on expanding practical cooperation in various fields, including key minerals and infrastructure."* This article has been translated by AI. 2026-07-24 09:48:00
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Daewoo Engineering Partners with KINX for Data Center Development Daewoo Engineering & Construction is collaborating with KINX, a specialist in data center operations, to engage in a comprehensive partnership for the development, construction, and operation of data centers.On July 23, Daewoo announced that it signed a memorandum of understanding (MOU) with KINX at KINX's headquarters in Gwacheon.Attendees at the signing ceremony included Jeon Yong-soo, head of Daewoo's Architectural Division, Lee Sang-won, executive director, members of the Data Center Task Force, KINX CEO Kim Ji-wook, and Executive Director Choi Jong-ok, among other key representatives from both companies.The agreement aims to explore hyper-scale and AI data center development projects, establish a collaborative model for development, construction, and operation, and secure partnerships from the early stages of projects.Daewoo brings its expertise in data center development and construction, while KINX offers operational experience and network competitiveness from its Gwacheon and Dogok data centers. The two companies plan to expand mutual participation opportunities in data center projects they pursue or review together.Daewoo aims to enhance its competitiveness and stability in future data center projects by proactively securing specialized operational partners. KINX also expects to strengthen its foundation for expanding new data center supply through partnerships in development and construction.Recently, Daewoo has accelerated its expansion beyond residential projects into the non-residential sector. In response to the AI era, it established a Data Center Task Force and has been pursuing a developer business model that encompasses development, investment, and operation, rather than just construction.Daewoo is currently involved as an investor and contractor in the new data center project 'Empyrean Digital AI Campus' in the Gangnam area and the first 'Jangseong Fine Data Center' in Jeollanam-do. Earlier this year, it also collaborated with Jeollanam-do to establish an AI data center cluster.As demand for data centers grows with the expansion of AI, construction companies are broadening their scope beyond simple construction contracts to include site acquisition, operational partnerships, and investment structures in development projects.Daewoo plans to expand its business scope as an 'integrated developer' covering all processes from site acquisition to development, construction, operation, and sale of data centers.A Daewoo representative stated, “By combining Daewoo's construction and development expertise accumulated in the domestic data center market with KINX's operational capabilities, we will secure competitiveness in the market. Based on a successful collaboration model in the domestic market, we will actively pursue partnerships abroad to enter the global data center market.”* This article has been translated by AI. 2026-07-24 09:40:00
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South Korea's Foreign Minister Meets EU and UK Counterparts to Address Global Issues South Korea's Foreign Minister Park Jin met with the EU's High Representative for Foreign Affairs and Security Policy, Josep Borrell, and the new UK Foreign Secretary, Ed Miliband, to discuss collaborative responses to global challenges.According to the Ministry of Foreign Affairs, Minister Park held separate bilateral meetings on July 23 in Manila, Philippines, with Borrell and Miliband.During the Korea-EU Foreign Ministers' meeting, both sides evaluated the progress made in security, defense, economic, and trade cooperation, including agreements reached during the Korea-EU summit in June. These agreements included the initiation of negotiations for a classified information protection agreement, the signing of a Digital Trade Agreement (DTA), and the conclusion of a Passenger Name Record (PNR) transfer agreement. They committed to ensuring swift implementation of these follow-up actions.In the Korea-UK Foreign Ministers' meeting, Minister Park congratulated Miliband on the formation of the new UK government under Andy Burnham.In response, Miliband emphasized the importance of the Korea-UK relationship and expressed a desire for closer communication and cooperation between the two ministers to further develop bilateral ties. He noted that with the UK’s recent decision to join the ASEAN Regional Forum (ARF), there would be enhanced collaboration in multilateral settings such as the ARF.In both meetings, the ministers exchanged views on key regional situations, including those in the Middle East and Ukraine, and agreed to work closely together to address pressing global issues amid rapidly changing international circumstances.* This article has been translated by AI. 2026-07-24 09:36:00
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Yuhan Corporation to Enhance Shareholder Value by Retiring 425.3 Billion Won in Shares Yuhan Corporation has announced plans to retire over 400 billion won worth of its own shares to enhance shareholder value.The company disclosed on July 23 that its board of directors approved the retirement of shares valued at 425.3 billion won, with the retirement scheduled for July 31.A total of 6,064,420 shares will be retired, representing 7.5% of the company's total shares.Yuhan Corporation stated that the purpose of the share retirement is to improve shareholder value.Additionally, Yuhan Corporation aims to maintain an average shareholder return rate of over 30% over the next three years, planning to retire 1% of its shares and continuously increase dividends per share until 2027.Currently, Yuhan Corporation's dividend payout ratio stands at 53%, exceeding the industry average of around 10%.* This article has been translated by AI. 2026-07-24 09:36:00
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KOSPI Falls Below 7000 Amid U.S. Tech Stock Declines and Geopolitical Risks The KOSPI index fell below 7000 on July 24, impacted by escalating geopolitical risks in the Middle East and a sharp decline in U.S. tech stocks. Following a broad drop in the New York stock market the previous day, investor sentiment has weakened, leading to early trading losses.As of 9:04 a.m. on July 24, the KOSPI was down 129.22 points (1.82%) at 6967.67. The index opened at 7000.78, down 96.11 points (1.35%).In the securities market, foreign investors sold a net 417.6 billion won, while institutions also sold 132.1 billion won. In contrast, individual investors were net buyers, purchasing 570.4 billion won.Among the top market capitalization stocks, Samsung Biologics was the only gainer, rising 4.06%. Conversely, major companies such as Samsung Electronics (-3.33%), SK Hynix (-4.01%), SK Square (-6.72%), Hyundai Motor (-5.21%), LG Energy Solution (-3.74%), Samsung C&T (-3.61%), KB Financial (-3.52%), Samsung Life (-3.34%), Kia (-3.20%), and Samsung Electro-Mechanics (-3.18%) all experienced declines.At the same time, the KOSDAQ index was trading at 772.15, down 18.13 points (2.29%) from the previous day. Individual investors were net buyers in the KOSDAQ as well, purchasing 120.8 billion won, while foreign and institutional investors sold 64.6 billion won and 54.4 billion won, respectively.Among the top KOSDAQ stocks, HLB surged by 16.33%. However, other stocks such as Rainbow Robotics (-9.84%), EcoPro BM (-5.50%), Wonik IPS (-5.47%), EcoPro (-4.98%), JUSUNG Engineering (-4.45%), Rino Technology (-4.33%), PSK (-3.57%), and Alteogen (-1.14%) all fell.Analysts suggest that the domestic market is taking a breather following the significant drop in U.S. tech stocks. On July 23, the Dow Jones Industrial Average closed down 506.93 points (0.97%) at 51,711.65. The S&P 500 fell 90.66 points (1.21%) to 7408.30, while the tech-heavy Nasdaq Composite plummeted 553.21 points (2.15%) to 25,137.69.Notably, shares of Alphabet and Tesla saw significant declines. Despite reporting better-than-expected earnings, Alphabet's stock dropped nearly 7% due to concerns over deteriorating free cash flow from large AI investments. Tesla's stock fell over 14% amid worries about cash flow following disappointing second-quarter results and expanded investments.Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to open lower due to increased geopolitical uncertainty between the U.S. and Iran, as well as the fallout from the decline in the U.S. stock market. However, during the trading session, we may see some stabilization, particularly in the semiconductor sector, which could help reduce losses."* This article has been translated by AI. 2026-07-24 09:32:00