Celltrion seeks nod from Europe and Korea for Herceptin biosimilar SC formulation SEOUL, February 03 (AJP) -South Korea's biosimilar giant Celltrion said it has successfully completed the pivotal regulatory clinical trial for Herzuma SC (CT-P6 SC), a subcutaneous formulation of its breast cancer biosimilar trastuzumab, and plans to submit marketing authorization applications in Europe and South Korea within the next three months. In a press release on Monday, the company said the trial met its primary endpoint, demonstrating pharmacokinetic equivalence to the February 3, 2026

Why Korean rockets are finding buyers on Russia's European doorstep SEOUL, February 02 (AJP) - Norway’s decision to select South Korea’s Chunmoo multiple launch rocket system (MLRS) for its Long Range Precision Fire System (LRPFS) program reflects a broader recalibration under way among European and NATO militaries bordering Russia — one shaped less by brand loyalty than by timelines, industrial resilience and operational flexibility. The contract, signed by the Norwegian Defence Materiel Agency with Hanwha Aerospace, covers 16 Chu February 2, 2026

Krafton bridges PUBG universe with Korean traditional crafts SEOUL, February 02 (AJP) - Krafton unveiled Monday a collection merging its flagship battle royale IP "PUBG: Battlegrounds" with traditional Korean craftsmanship through a state-led cultural initiative. The project, hosted by the Ministry of Culture, Sports and Tourism and managed by the Korea Craft & Design Foundation, aims to reimagine traditional assets within modern industries. Design studio Superposition reinterpreted the game's iconic "Blue Zone" February 2, 2026

Hyundai Motor Group drops buyback option for Russian plant SEOUL, February 02 (AJP) - Hyundai Motor Group has decided not to exercise an option to repurchase its former manufacturing plant in Russia, effectively confirming its exit from the Russian market. It will only maintain support services for existing customers, according to industry sources on Monday. The group allowed the buyback option for the St. Petersburg facility to expire at the end of last month, choosing not to reacquire the plant. Hyundai Motor Group sold its enti February 2, 2026

ASML's ambitious revenue target raise capacity upgrade room for memory chipmakers in AI heyday SEOUL, February 02 (AJP) - ASML’s ambitious revenue target signals greater room for scaling and production ramp-ups among chipmakers including Samsung Electronics and SK hynix, which together supply roughly 80 percent of the memory used in AI accelerators and hyperscale data centers. The outlook follows stronger-than-expected 2025 earnings from ASML, which reported total net sales of €32.7 billion ($38.8 billion), while fourth-quarter net bookings surged to €13.16 February 2, 2026

Samsung SDI swings to operating loss in 2025 on weak EV demand SEOUL, February 02 (AJP) - Samsung SDI swung to an operating loss in 2025 as a prolonged slowdown in electric-vehicle demand and shifting policy conditions in the United States and Europe weighed on performance, the battery maker said on Monday. In a regulatory filing, the company reported an operating loss of 1.72 trillion won for the year, reversing an operating profit of 363.3 billion won in 2024. Revenue fell 20 percent to 13.27 trillion won from 16.6 trillion won a year ear February 2, 2026

Hanwha Ocean hosts Canadian officials as submarine bid advances SEOUL, February 02 (AJP) - A Canadian business and government delegation led by Stephen Fuhr, Canada’s minister of state for defense procurement, visited Hanwha Ocean’s shipyard in Geoje on Monday as Ottawa advances plans for its Canadian Patrol Submarine Project (CPSP). Fuhr, who oversees procurement for the program estimated at about 60 trillion won, toured Hanwha Ocean’s assembly facilities with roughly 30 Canadian government and industry representatives, re February 2, 2026

Samsung mandates English for documents between overseas and Korean units SEOUL, February 02 (AJP) - Samsung’s major overseas units will adopt English as the sole language for documents exchanged both internally and with South Korea-based operations, part of a push to reduce inefficiencies from using multiple languages, the group said on Monday. According to an internal notice, Samsung will require documents shared between domestic and overseas operations at three key affiliates — Samsung Electronics, Samsung Display and Samsung Biologic February 2, 2026

Mobile shopping drives record online spending in South Korea SEOUL, February 02 (AJP) - South Korea’s online shopping transactions reached a record high last year, with cross-border online trade also expanding, official data showed on Monday. According to a report from the National Data Portal, total online shopping transactions rose 4.9 percent from a year earlier to 272.4 trillion won. Mobile shopping continued to dominate spending, rising 6.5 percent to 211.14 trillion won. Food services accounted for the largest share February 2, 2026

Hanwha Aerospace signs $922mln deal to supply Chunmoo rocket systems to Norway SEOUL, February 02 (AJP) - A joint effort to bolster Nordic defense reached a major milestone as Hanwha Aerospace secured a contract to supply the Chunmoo Multiple Rocket Launcher System (MRLS) to the Norwegian Armed Forces. The agreement, valued at approximately 922 million dollars, marks the first major defense contract for the South Korean company in 2026. The Chunmoo system is a multi-caliber rocket artillery platform capable of firing different munitions from two separate l February 2, 2026