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  • Adviotech Faces Financial Crisis Amid Leadership Changes and Allegations
    Adviotech Faces Financial Crisis Amid Leadership Changes and Allegations Adviotech, a KOSDAQ-listed bio venture company known for developing new drugs and vaccines based on egg antibody (IgY) technology, has experienced a dramatic downturn in its fortunes over the past year. Four years ago, the company was relatively stable, having established itself in the KOSDAQ market with a solid financial standing. However, recent turmoil, including repeated changes in management and ownership, has led to a significant liquidity crisis, with 10 billion won disappearing from the company's accounts.Allegations have emerged that the new management, stepping in after the collapse of the Iwha Group (now I Group) due to embezzlement and breach of trust charges, borrowed against the company's credit and funneled the funds into their own struggling private companies. How did Adviotech, once a leader in vaccine development, find itself in such dire straits?The saga of Adviotech's management began in June of last year when founder and CEO Jeong Hong-geol signed a contract to transfer management rights after a series of consecutive trading days at the upper limit. This was in the wake of a capital increase of 27.8 billion won for the successor of the suspended Canary Bio, now known as OcuP BioM. However, suspicions arose regarding the management's ties to the previous delisting of Hyundai Feed (formerly Canary Bio), leading to the cancellation of the payment.In July, the second acquirer, Lee Un-jang, CEO of Orion ENC and an expert in small modular reactors (SMRs), took over. Under his leadership, Adviotech began to shift its business focus significantly. During a special shareholders' meeting on September 30, the company changed its name to Orion Atomics and added over 30 new technology themes unrelated to its core bio business, including small modular reactor development and nuclear decommissioning robots. A former head of the KOSDAQ market's disclosure team was also appointed as an auditor.However, this ambitious pivot to nuclear technology was short-lived. Lee Un-jang was dismissed by the board just 23 days after taking office on October 23. In response, Lee's side filed a lawsuit against CEO Kim Dong-hyun for an injunction to halt his duties, but they abruptly withdrew the suit on October 24, reaching a settlement. Just days later, on October 27, Lee's team also retracted a planned capital increase of 16.5 billion won.Orion ENC, which struggled to secure acquisition funds, was reported to have borrowed 1.5 billion won from Adviotech, raising suspicions that behind-the-scenes forces had installed a nuclear expert to change the company’s name and boost its stock price before discarding him. Ultimately, the SMR project was left unexecuted, serving only as a speculative boost.Following Lee's dismissal, on November 10, the acquirer was suddenly changed to BK Partners Investment Association No. 1. On November 19, this association became the third-largest shareholder of Adviotech after paying 5.6 billion won for a capital increase.Notably, the largest investor in this association holds a 99.19% stake and is none other than Itron, a company that was delisted from the KOSDAQ in 2023 alongside Iwha Electric and EID due to embezzlement and breach of trust allegations totaling over 100 billion won.According to investment banking sources, the real force behind this transaction was Kim Young-jun, chairman of the Iwha Group, who was under trial while indiscriminately acquiring KOSDAQ-listed companies. Having already acquired MicobioMed (now The Biomed), Kim targeted Adviotech, which had a market capitalization of only 40 billion won. During this period, outside directors who had joined when Lee Un-jang was appointed, including Hwang Hae-ryong and Choi Hyung-nam, hastily submitted their resignations on November 20 and December 12, respectively, amid the turmoil of ownership changes and management disputes.The company, now controlled by a shell association linked to the delisting forces, reverted its name back to Adviotech during a shareholders' meeting on March 31 of this year.In June, the largest shareholder changed again. On June 4, the largest investor in BK Partners Investment Association No. 1 shifted from Itron to L&J Trust Holdings, leading to the appointment of Kim Do-hyung as the new CEO. Kim is also the head of Onhill, a private company distributing animal pharmaceuticals, and previously led Notus (now HLB Biosystems).Shortly after Kim's appointment on June 19, the board replaced existing outside directors for personal reasons and appointed several associate professors in veterinary and pharmaceutical fields as new outside directors. They also added over 20 animal-related business purposes to the company's articles of incorporation.Following this, the company moved swiftly to withdraw funds. On June 26, Adviotech decided to issue 10 billion won in private convertible bonds for the purpose of acquiring securities from other companies. Just a week later, on July 3, it announced that it had used this money to purchase 12.28% of Onhill's shares for 9.9697 billion won (55,000 won per share).The issue lies in Onhill's financial condition. As of last year, its accumulated losses reached 14.75397 billion won, nearly depleting its paid-in capital of 14.76579 billion won. In 2025 alone, it reported a net loss exceeding 2.1 billion won, with current liabilities due within a year amounting to 18.3 billion won, while holding only 2.8 billion won in cash, putting it in a liquidity crisis. By purchasing shares in such a company at a high price of 55,000 won per share, Adviotech effectively injected 10 billion won in cash into it.The duality of the board's actions during the fund allocation process raises further suspicions. Adviotech has reported operating losses for three consecutive years.Despite its precarious financial state, which necessitates immediate attention to short-term debts, the company paid the 10 billion won purchase price in full on the day of the contract signing for shares destined for the CEO's personal company. In contrast, the expected receipt date for the remaining payment of 3.135 billion won for a convertible bond sale that the company was supposed to receive from external sources was postponed by two months.The counterparty in this 10 billion won transaction is Hiworks, a retail company with a capital of only 100 million won. Hiworks is a corporation wholly owned by a related party of the CEO of Onhill Pet, a subsidiary of Onhill.A source in the financial investment industry stated, "Small-cap companies in the KOSDAQ market are vulnerable to stock price manipulation and predatory M&A by unhealthy capital market forces." 2026-07-16 16:20:00
  • Foreign tourists boost visits to Seouls historic royal palaces
    Foreign tourists boost visits to Seoul's historic royal palaces SEOUL, July 16 (AJP) - A surge in foreign visitors helped offset a slight decline in domestic visitors to South Korea's royal heritage sites in the first half of the year, pushing overall admissions up 6.6 percent from a year earlier, according to data released by the Korea Heritage Service on Thursday. A combined 7.41 million people visited the capital's royal palaces including Changdeokgung, Changgyeonggung, Deoksugung and Gyeongbokgung, as well as the Jongmyo Shrine between January and June. The increase was mainly driven by foreign visitors. Their visits jumped 29.1 percent from a year earlier to 2.27 million, while domestic visits edged down about 1 percent to 5.14 million. Foreign visitors made up 30.6 percent of total visitors, up from 25.3 percent last year. Gyeongbokgung, Seoul's most visited historic site, attracted 3.65 million visitors, up 10.7 percent from a year earlier. Foreign visitors increased to 1.63 million, more than offsetting a 4.5 percent decline in domestic visitors to just over 2 million. Deoksugung attracted 1.75 million visitors, followed by Changdeokgung with 1.05 million and Changgyeonggung with about 611,000. Jongmyo, the royal ancestral shrine of the Joseon Dynasty, welcomed nearly 350,000 visitors. Visitor numbers have continued to recover since the coronavirus pandemic, when the four palaces and Jongmyo Shrine attracted fewer than 7 million visitors combined for the entire year of 2021. Last year, total admissions surpassed 17.8 million for the first time, buoyed by a recovery in inbound tourism and growing global interest in Korean culture. The Korea Heritage Service said Changdeokgung, Jongmyo and the Royal Tombs of the Joseon Dynasty will remain open free of charge through July 19 to mark the 48th session of the UNESCO World Heritage Committee, which opens in Busan on July 19. Jongmyo, which normally operates only through guided tours, will also allow self-guided visits through August. 2026-07-16 16:10:01
  • South Korea to Launch Arctic Shipping Route Trials from Busan to Europe
    South Korea to Launch Arctic Shipping Route Trials from Busan to Europe The Ministry of Oceans and Fisheries will initiate trial operations of the Arctic shipping route from Busan to Europe in the second half of the year. The plan aims to develop Busan and Ulsan ports into key logistics hubs for Arctic shipping, alongside relocating the ministry's headquarters to Busan and moving shipping companies' headquarters to foster the southeastern region as a 'maritime capital.'During a report on the second half of the year held at the Blue House on July 16, President Lee Jae-myung emphasized the theme 'National Land Transformation Starting from the Sea,' highlighting key initiatives such as the Arctic route trials, seafood price management, development of the maritime capital region, and the transition to marine and fisheries artificial intelligence (AI).The primary focus for the second half of the year is the development of the Arctic route. The ministry plans to conduct round-trip trials from Busan to Europe over a 40 to 45-day schedule in August and September. This trial will provide operational experience and logistics data, laying the groundwork for establishing a regular express service connecting Korea and Europe.Minister of Oceans and Fisheries Hwang Jong-woo stated in a pre-briefing for the report that 'Penstar was selected as the trial operator in May, and a 2,700 TEU vessel has been confirmed.' He added, 'We expect to receive the vessel in early August and have secured cargo demand of about 1,300 TEU.'To ensure safety during Arctic route operations, the ministry will prioritize experienced crew members and is discussing the inclusion of experts with polar navigation experience. Plans are also underway to secure stable communication networks in high-latitude areas through low-orbit satellites and Starlink.The roles of Busan and Ulsan ports will be expanded to support the Arctic route. Busan will focus on container shipping, while Ulsan will serve as a center for energy logistics, establishing the necessary infrastructure for Arctic shipping. The ministry will also promote the training of polar navigators, develop key technologies for domestically produced icebreaking container ships, and establish a comprehensive support center for the Arctic route.To foster the maritime capital region in the southeastern area, the ministry plans to select a site for a new Busan headquarters in August and create a 'Scale-Up Fund' worth 100 billion won to attract marine and fisheries companies. A policy council involving central and local governments, as well as regional economic sectors, will also be established.In the first half of the year, four shipping companies, including HMM, relocated their headquarters to Busan. The ministry aims to develop a maritime cluster in the redeveloped North Port area, integrating administrative, financial, educational, and industrial functions.Stabilizing seafood prices is also a major task for the second half of the year. The ministry plans to diversify import sources for mackerel by dispatching special envoys to secure overseas supplies and reducing tariff quotas. For key items like hairtail, squid, and seaweed, temporary regulatory relaxations, expanded fishing and aquaculture licenses, government stock releases, and discount events will be implemented.To enhance the competitiveness of the seaweed industry for exports, the ministry will pursue the establishment of international standards for seaweed specifications and unify the export name for domestic seaweed as 'GIM' to strengthen its identity. Promising items like oysters and abalone will be developed as candidates for 'the second GIM.'In support of island and coastal residents, the ministry is preparing for a public ferry system set to launch in January 2027 and will designate alternative vessels for 99 coastal ferry routes to minimize service gaps. The 'Fishing Bus,' which provides essential services such as medical, beauty, and bathing, will operate at up to 200 locations.To enhance maritime safety, the ministry has mandated the wearing of life jackets for all fishing crew members since July 1 and will expand on-site guidance and inspections. The 'solo fishing vessels,' numbering around 30,000, will be managed using AI accident pattern analysis and emergency request systems.In response to illegal fishing by Chinese vessels, the ministry will utilize modified decommissioned vessels and artificial structures for the removal of illegal fishing gear. Minister Hwang noted, 'The Fisheries Resources Agency has purchased an 80-ton trap fishing vessel for modification, which will be deployed in the NLL border area in the second half of the year,' adding that plans are in place to increase this to one more vessel next year and expand the installation of artificial structures.Risk management in the Middle East will continue, with the ministry supporting the safe departure of two remaining vessels in the Strait of Hormuz and establishing an AI maritime supply chain early warning system to prepare for similar situations. The number of essential national vessels will also be gradually increased from the current 88.To attract more youth to the maritime industry, the ministry will establish contract-based academic programs with major companies and support wage differences for national youth mariners compared to foreign crew members. In the fisheries sector, five 'Youth Marine Villages' will be created to support housing, jobs, and community integration, along with the establishment of a future youth enterprise fund.Minister Hwang stated, 'The first half of this year has laid the foundation for a major transformation and leap in the marine and fisheries sector. From the second half, we will actively implement the tasks outlined in the report to innovate coastal and marine areas and advance toward becoming a leading maritime nation.'* This article has been translated by AI. 2026-07-16 16:08:00
  • Korean Pork Association President Calls for Government Policy Reform
    Korean Pork Association President Calls for Government Policy Reform Lee Gi-hong, President of the Korean Pork Association and the Korean Pork Promotion Committee, emphasized the need for government policies to focus on the realities of the field to address current issues in the pork industry. He argued that major regulations regarding quarantine, livestock waste, and barn facilities must be revised to create a sustainable production base.On July 16, the Korean Pork Association and the Korean Pork Promotion Committee held a meeting with reporters from the Ministry of Agriculture, Food and Rural Affairs in Sejong City to discuss key issues in the pork industry and future policy directions. The meeting was attended by over 60 participants, including President Lee, officials from the Ministry, and staff from the association and promotion committee.In his opening remarks, Lee stated, “While the association is a rights protection organization, we cannot communicate with the government if we only pursue our own interests. We must understand the government’s position while effectively advocating for farmers’ interests.”He explained that since taking office, he has been working to improve regulations in areas such as distribution, quarantine, and livestock waste resource management through communication with the government and the National Assembly. Regarding the approach to government policies, he asserted, “We will not engage in ‘asphalt farming’ but will persuade and lead the government as a partner, not just a subject of its policies.”Lee identified the urgent task of transitioning to a field-centered quarantine system. He pointed out that the response to African Swine Fever (ASF) should focus on preventing disease rather than merely implementing quarantine measures.Based on its experience in responding to ASF, the association is demanding improvements to the Standard Operating Procedures (SOP), the establishment of a reasonable compensation system for damages not caused by farmers, and the relaxation of movement restrictions. He also noted recent revisions to the foot-and-mouth disease SOP, which included adjustments to the criteria for initial outbreaks and allowed the movement of live animals within the quarantine zone.Improvements to the compensation system for culling livestock were also highlighted as a priority. The association has proposed amendments to the Livestock Infectious Disease Control Act to increase compensation for initial reports of culling from 80% to 100% and for subsequent occurrences from 80% to 90%. They plan to continue advocating for full compensation and management loss compensation during the rest period before restocking.Regarding livestock waste policies, Lee urged a shift in perspective to view waste as a resource. He emphasized the need for regulatory improvements to expand the use of liquid fertilizer and promote fertilizer resource management.The association is pursuing a plan to transfer the jurisdiction of liquid fertilizer, registered as a fertilizer production industry, from the Ministry of Environment’s Livestock Waste Management Act to the Ministry of Agriculture, Food and Rural Affairs’ Fertilizer Management Act to unify application standards. They are also working on practical regulatory improvements, such as relaxing ammonia emission standards for livestock waste treatment facilities.To enhance productivity, Lee argued for the institutionalization of biosecurity measures in pig farms and increased support for modernizing barn facilities. Biosecurity measures manage the disease adaptation process of incoming breeding pigs to prevent disease spread within farms and improve productivity.He stated, “To increase productivity, facility modernization and disease management must come first,” and called for collaboration with the Ministry of Agriculture, Food and Rural Affairs to address issues related to building coverage regulations from the Ministry of Land, Infrastructure and Transport and emission standards from the Ministry of Environment.To expand pork consumption and diversify export markets, the Korean Pork Promotion Committee plans to continue promotional activities to boost domestic consumption and enhance brand value, while also exploring overseas markets in Singapore and Mongolia to broaden export opportunities.Lee concluded, “Government policies only hold meaning when they operate effectively in the field. We will do our utmost to reflect the voices of pork farmers in policies through close cooperation with the government, the National Assembly, and the media.”* This article has been translated by AI. 2026-07-16 16:04:00
  • Finding Solutions to Youth and Elderly Job Conflicts: New Committee Launched
    Finding Solutions to Youth and Elderly Job Conflicts: New Committee Launched As South Korea faces a rapid decline in its working-age population due to low birth rates and aging, discussions are beginning on how to harmonize the entry of young workers into the labor market with the continued employment of middle-aged and elderly individuals. The goal is to reduce intergenerational job conflicts and prevent employment disruptions throughout the working life.On July 16, the Economic, Social and Labor Council (ESLC) launched the 'Special Committee on Public Discussion of Demographic Changes and Employment' during its first plenary meeting held in Jongno, Seoul. The committee, chaired by Kim Ji-hyung, consists of 15 members from labor, management, government, and public interest sectors. It will operate for six months, with the possibility of a three-month extension if necessary.This initiative comes in response to concerns that a decrease in the working-age population could lead to structural constraints on labor supply. According to the Korea Employment Information Service, the proportion of individuals aged 65 and older is expected to rise to 31.7% by 2034. While young people are entering the job market later, the demand for continued work among middle-aged and elderly individuals is increasing, potentially intensifying job conflicts between generations.The committee has identified two key issues: promoting 'coexistence jobs' that allow for the utilization of older workers while facilitating the entry of young workers without conflict, and reducing employment disruptions during the processes of hiring, mobility, transition, and re-employment, termed 'lifelong jobs.' Specific agendas, including stable job mobility systems, lifelong learning, and vocational training reforms, will be selected through a public discussion process.This marks the first public discussion model of the ESLC that combines traditional labor-management dialogue with citizen participation. Instead of merely polling citizens on existing policies, this approach involves stakeholders and the public in designing detailed tasks and policy solutions together.The citizen participation group will consist of 80% general citizens and 20% stakeholders, including labor, management, youth, women, non-regular workers, small businesses, and self-employed individuals. A total of 300 participants will be recruited, with 150 from the metropolitan area and 150 from non-metropolitan areas, considering factors such as region, gender, and age.On August 8, the committee will conduct a preliminary mini-public discussion with 50 citizens and will also analyze opinions collected online using artificial intelligence (AI). Subsequently, regional public discussions will be held on August 30 in the metropolitan area and September 5 in non-metropolitan areas, with 150 citizens participating in each.Following this, 100 participants from the citizen participation group will engage in an intensive public discussion over two days starting October 24. Based on the findings, a citizen proposal will be drafted by a 30-member citizen representative group, and a final proposal will be compiled by a 100-member citizen participation group in November. The committee will review these proposals and present a final report and white paper in January.Kim Ji-hyung emphasized, “We must not adopt policies that push out older workers for the benefit of youth or reduce youth hiring for the sake of older individuals. We need to find concrete practical measures from the perspective of how everyone can work together for a long time.”* This article has been translated by AI. 2026-07-16 16:04:00
  • Trump Intensifies Pressure on Iran with Airstrikes, Blockades, and Sanctions
    Trump Intensifies Pressure on Iran with Airstrikes, Blockades, and Sanctions President Donald Trump has launched a comprehensive offensive against Iran, conducting five consecutive airstrikes while simultaneously blocking oil exports through maritime blockades and imposing sanctions on arms supply networks. The possibility of deploying ground troops and targeting underground nuclear facilities, power plants, and bridges has also been raised. Despite this aggressive stance, Trump is keeping the door open for negotiations. Analysts interpret this strategy as an attempt to increase the military and economic costs for Iran, compelling it to return to the negotiating table under U.S. terms. Axios reported that the U.S. aims to reopen the Strait of Hormuz and extract concessions on nuclear issues. Airstrikes, Blockades, and Sanctions Mobilized On July 15, U.S. forces conducted airstrikes against Iran for the fifth consecutive day. The U.S. Central Command stated that it targeted coastal defense facilities and cruise missile storage and launch sites on the island of Daftunb near the Strait of Hormuz. The scope of the airstrikes is gradually expanding. According to reports from AP and others, strikes have hit not only southern Iran but also facilities near Tehran and in Semnan Province, which is associated with Iran's ballistic missile and space programs. U.S. officials believe these recent attacks are aimed at weakening Iran's air defense and missile capabilities in preparation for further military operations. At sea, the U.S. is tightening its grip on Iran's key revenue source—oil exports. Following the resumption of a blockade on vessels traveling to and from Iranian ports, the U.S. has used actual force against ships that violated the blockade. The military reported that it fired Hellfire missiles at a tanker heading to the island of Hargh, forcing it to halt operations and redirecting two other vessels. As tensions escalate, maritime traffic through the Strait of Hormuz has sharply declined. An analysis by Reuters of data from shipping information provider Kpler revealed that only seven vessels passed through the strait on July 15, down from 13 the previous day. No very large crude carriers (VLCCs) or liquefied natural gas (LNG) carriers were reported. The economic offensive has also intensified. The U.S. Treasury Department has imposed additional sanctions on individuals and entities supporting the Iranian Revolutionary Guard Corps (IRGC) in procuring weapons abroad. This move aims to disrupt the supply of arms and materials through international transport and financial networks, thereby weakening Iran's warfighting capabilities. Ground Troops and Nuclear Facility Strikes Considered The U.S. is also considering more robust military actions. Axios reported that President Trump recently discussed expanding operations against Iran with national security advisors in the White House Situation Room. The Wall Street Journal noted that options being considered include intensified airstrikes, targeting underground nuclear facilities, and deploying ground troops to seize key islands. The island of Hargh, through which most of Iran's oil exports pass, is a primary target. Trump has not completely ruled out the possibility of ground troop deployment. Underground nuclear facilities and critical infrastructure could also be targeted. Trump hinted at the possibility of attacking a nuclear facility reportedly under construction at a site known as 'Mount Pickaxe.' He warned that if Iran does not reach an agreement soon, strikes could extend to power plants and bridges. However, he did not specify a timeline. Trump stated, "I don’t like to set deadlines," but advised Iran to "act properly." Iran is also retaliating. According to AP, Iran has launched missiles and drones at U.S. military-related targets in Bahrain, Kuwait, and Jordan. The conflict appears to be spreading beyond the Strait of Hormuz to neighboring countries. Nevertheless, the possibility for dialogue remains. Trump recently described the release of American detainees in Iran as a 'goodwill gesture.' He also mentioned that the U.S. and Iran were close to an agreement before negotiations fell apart, indicating ongoing potential for resolution. Experts view this strategy as an effort to increase the costs for Iran the longer it holds out, thereby extracting concessions in negotiations. Concerns are growing that if pressure does not lead to negotiations, the conflict could escalate throughout the Middle East.* This article has been translated by AI. 2026-07-16 16:00:00
  • China Performs Worlds First Commercial Brain-Machine Interface Surgery
    China Performs World's First Commercial Brain-Machine Interface Surgery China has successfully performed the world's first commercial brain-machine interface (BCI) surgery, implanting a device into the brain of a patient with quadriplegia. The invasive surgery, conducted on July 13 at Huashan Hospital affiliated with Fudan University in Shanghai, involved the implantation of a BCI product developed by Chinese medical device company Borui Kang (博睿康), according to a report by China’s Xinjing Bao on July 16. While companies like Neuralink and Synchron have developed BCI products that have been implanted in human brains, those procedures were all in clinical trial phases. Borui Kang's product has completed clinical trials and is now commercially available, marking it as the first commercial BCI surgery in the world, the report stated. The device implements a 'Neuro-Engineered Operative Brain-Machine Interface for Hand Motor Function Compensation System (NEO).' During the surgery, sensors were implanted in the patient's brain, which collect brain waves and transmit them to an external device. This device processes the signals using AI, interpreting the brain waves, which are then converted into electrical signals sent to a wearable assistive device, enabling finger movement. The Huashan Hospital reported that during the surgery, brain wave signals were collected stably, and the signal quality was good. The hospital also noted that the patient's condition remained stable. This surgery has validated the accurate measurement of brain signals. After a recovery period of several weeks, during which the surgical site heals, the AI will learn the patient's brain signals. Following this process, the patient will be able to move their hand. According to reports, there are currently 3.7 million individuals in China with spinal cord injuries, with 90,000 new cases emerging each year. More than 70% of these patients are under the age of 50, indicating a significant demand for rehabilitation services. The Chinese government has designated BCI as a future growth industry and is providing support for its development. The Ministry of Industry and Information Technology set goals last year to enhance core technology development by 2027 and significantly improve industrial innovation capabilities by 2030. 2026-07-16 16:00:00
  • KOSDAQ-listed biotech Alteogen slides amid rival technology concerns
    KOSDAQ-listed biotech Alteogen slides amid rival technology concerns SEOUL, July 16 (AJP) - Shares of South Korean biotech company Alteogen have fallen sharply this week after Samsung Bioepis filed a patent application for a similar drug-delivery technology. The move raised concerns that Samsung Bioepis could challenge Alteogen with a competing technology that converts intravenous drugs into subcutaneous injections. Both companies, however, dismissed the concerns, saying the market reaction was excessive and the technologies are not direct competitors. Samsung Bioepis said its latest patent application covers purification technology for hyaluronidase, an enzyme used in under-the-skin drug delivery. However, speculation that Samsung Bioepis is developing a similar treatment technology sent Alteogen shares sharply lower. The KOSDAQ-listed biotech stock plunged 11.69 percent on Tuesday to close at 279,500 won. After a slight rebound the following day, shares fell again on Thursday, dropping 3.12 percent in early trading. Investors worried that the patent application signaled Samsung Bioepis' entry into the subcutaneous drug delivery market, where Alteogen has built a strong position with its ALT-B4 technology, which enables medicines typically given by intravenous (IV) injections to be administered through quick under-the-skin injections. Samsung Bioepis, however, said investors had misunderstood the patent, saying it is intended to support the manufacturing process for hyaluronidase rather than the development of a subcutaneous (SC) drug delivery platform. "The patent application is still pending," a Samsung Bioepis official said. "No decision has been made on which products the technology may be applied to." It further elaborated that it has not started clinical trials using the technology or applied for regulatory approval. Instead, Samsung Bioepis said it is currently focused on developing an affordable version of Keytruda, a top-selling cancer drug from Merck. The company aims to complete a global Phase 3 trial this year and launch the product after Keytruda's South Korean patent expires in 2028. Meanwhile, Alteogen sought to ease investor concerns, saying Samsung Bioepis' patent relates to manufacturing processes rather than the key technology behind Alteogen's drug delivery platform. It said ALT-B4 is protected by its own patent and is fundamentally different from Samsung Bioepis' manufacturing technology. Alteogen said Keytruda Qurex will continue to be protected by U.S. patents until 2043. It also said products using other hyaluronidase technologies are unlikely to be approved as biosimilars to Keytruda Qurex under current regulations. The latest dispute seems to reflect how closely investors are watching developments in under-the-skin drug delivery, one of the pharmaceutical industry's fastest-growing areas. Alteogen generates revenue by licensing its ALT-B4 technology to global pharmaceutical companies, making concerns over potential competitors especially sensitive for investors. 2026-07-16 15:53:41
  • Shinhan Bank Partners with Government Employees Pension Service for Digital Support
    Shinhan Bank Partners with Government Employees Pension Service for Digital Support Shinhan Bank announced on July 16 that it has signed a memorandum of understanding with the Government Employees Pension Service to enhance the digital financial capabilities and consumer protection for retired public officials through artificial intelligence (AI) and digital finance.The agreement aims to support retired public officials in utilizing AI financial services more easily and safely.The signing ceremony was attended by Park Hyun-joo, head of Shinhan Bank's Consumer Protection Group, and Park Jae-kyung, head of the Pension Headquarters at the Government Employees Pension Service, along with officials from both organizations.The two institutions plan to operate customized financial education programs for retired public officials, focusing on fraud prevention, AI utilization, digital finance, and asset management. They will also collaborate on joint campaigns and promotional efforts to spread a culture of consumer protection.In particular, Shinhan Bank intends to provide experiential financial education through its AI and digital finance education center, 'Shinhan Hakijae,' which will include tailored asset management training covering money management after pension receipt and understanding financial products.Additionally, they will explore ways to utilize the 'Shinhan Hakijae' space as a hub for social participation activities of retired public officials, such as those from the Government Employees Pension Service's Sangnok Volunteer Group.A Shinhan Bank official stated, "We will provide practical education to help retired public officials adapt more securely to the changing AI and digital financial environment and will continue to expand cooperation with public institutions for consumer protection and digital inclusion."* This article has been translated by AI. 2026-07-16 15:52:00
  • TSMC Raises Q3 and Annual Guidance Amid Strong AI Demand
    TSMC Raises Q3 and Annual Guidance Amid Strong AI Demand World's largest semiconductor foundry TSMC has raised its guidance for the third quarter and the full year, following strong performance in the second quarter.On July 16, Chinese media including Tonghuashun reported that TSMC projected its third-quarter revenue guidance to be between $44.6 billion and $45.8 billion, exceeding market expectations of $43.11 billion. The gross profit margin guidance for the third quarter is estimated at 65% to 67%, aligning with the midpoint of the forecast (65.9%), while the operating profit margin guidance is set at 56% to 58%, above the expected upper range (57.7%).Additionally, TSMC has increased its revenue growth guidance for 2026 from 30% to 40%.TSMC attributed the upward revision to robust demand for AI-related products, citing strong orders from its customers amid a global AI boom.Earlier, TSMC reported that its consolidated revenue for the second quarter (April to June) reached NT$1.27 trillion (approximately $39.45 billion), a 36% increase compared to the same period last year. This figure surpassed expectations of NT$1.26 trillion and marked a record high, with a 12% increase from the previous quarter.Net profit surged 77.4% year-on-year to NT$706.56 billion, also exceeding the forecast of NT$632.64 billion, setting a new record. The net profit increased by 23.4% from the previous quarter, with earnings per share (EPS) at NT$27.25. As a result, TSMC has maintained double-digit growth in net profit for nine consecutive quarters. 2026-07-16 15:48:00