Shim Woo-hyun

Seoul

Business Reporter at The Korea Herald

Business reporter @TheKoreaHerald

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Articles

Tesla's Model Y tops import car sales in H1

Jul 7, 2024 | koreaherald.com | Shim Woo-hyun

US electric vehicle maker Tesla’s mid-size SUV Model Y topped imported car sales in Korea in the first half of this year, according to market tracker Carisyou on Sunday. With Germany’s BMW and Mercedes-Benz remaining the best-selling imported car brands, Tesla became the third-largest foreign carmaker during the same period. Tesla’s Model Y sold 10,041 units in the January-June period, almost quadrupling from a year ago.
[Weekender] VIB treatment: Luxury market surges for ‘very important babies’

Jul 4, 2024 | koreaherald.com | Shim Woo-hyun

Despite South Korea’s notoriously low birth rate, its childrenswear market shows no sign of abating, especially led by the binge spending of young parents. “Most parents that I know think that putting a luxury onesie that costs hundreds of dollars on a baby is excessive because they grow out of clothes so quickly.
Daewoo E&C chairman meets Vienamese PM

Jul 4, 2024 | koreaherald.com | Shim Woo-hyun

Daewoo Engineering & Construction Chairman Jung Won-ju met with Vietnam’s Prime Minister Pham Minh Chinh in Seoul to discuss future cooperation in construction projects in Vietnam, the company said Thursday. During the meeting held at Lotte Hotel in central Seoul on Wednesday, Jung sought the Vietnamese government’s support in the company’s ongoing construction projects in Vietnam.
Lotte Biologics breaks ground for first plant in Songdo

Jul 3, 2024 | koreaherald.com | Shim Woo-hyun

South Korean contract development and manufacturing organization Lotte Biologics CEO Richard Lee said Wednesday that the company aims to hit 1.5 trillion won ($1.07 billion) in sales by 2030 to become one of the world's top 10 CDMOs.The announcement came during a groundbreaking ceremony for the company's first biomanufacturing plant in Songdo, which will elevate its total production capacity to some 360,000 liters.
Celltrion's Stelara biosimilar recommended for EU approval

Jul 1, 2024 | koreaherald.com | Shim Woo-hyun

Celltrion said Monday that CT-P43, its ustekinumab biosimilar referencing Stelara, received an approval recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use. Stelara is Janssen's top-selling drug for psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis. The global market for ustekinumab last year was estimated at around $20 billion, Celltrion added.
Korean Air's Q2 earnings to surpass market consensus: report

Jun 28, 2024 | koreaherald.com | Shim Woo-hyun

Korean Air is expected to continue its trajectory with another solid quarter, backed by increased revenue from the company’s cargo business, according to a security firm’s report and industry sources Friday. According to Daishin Securities’ report, Korean Air’s revenue from its cargo business is expected to increase in the second quarter due to high demand, increased cargo and a recent drop in fuel prices.
Naver's Webtoon Entertainment gains 10% on Nasdaq debut

Jun 28, 2024 | koreaherald.com | Shim Woo-hyun

Shares in online comics platform Webtoon Entertainment, a subsidiary of Naver in the US, rose around 10 percent in the first day of trading on Nasdaq on Thursday, giving the company a valuation of $2.92 billion. Webtoon Entertainment’s stock first opened at $21.30, and traded as high as $24. The stock price eased off the peak to close at $23. Through the initial public offering, Webtoon Entertainment is estimated to have raised $315 million, selling 15 million shares.
Korean Air's Q2 earnings to surpass market consensus: report

Jun 28, 2024 | v.daum.net | Shim Woo-hyun

Korean Air is expected to continue its trajectory with another solid quarter, backed by increased revenue from the company’s cargo business, according to a security firm’s report and industry sources Friday. According to Daishin Securities’ report, Korean Air’s revenue from its cargo business is expected to increase in the second quarter due to high demand, increased cargo and a recent drop in fuel prices.
Sky Labs’ ring-type blood pressure monitor eyes US, Europe debuts

Jun 27, 2024 | koreaherald.com | Shim Woo-hyun

South Korean health care startup Sky Labs said Thursday it is seeking to debut its ring-type blood pressure monitor, CART BP, in the US and Europe next year following its Korean launch in July to enjoy insurance benefits. The announcement comes after the nation’s Health Insurance Review & Assessment Service recently decided to allow the health care ring to get covered by the National Health Insurance Service.
SK Pharmteco in talks to sell Virginia plant to Novo Nordisk

Jun 26, 2024 | koreaherald.com | Shim Woo-hyun

SK Pharmteco, a contract development manufacturing organization affiliated with SK Group, is considering selling its manufacturing plant in Virginia to Danish pharmaceuticals company Novo Nordisk, according to industry sources Wednesday. The Petersburg, Virginia plant is an active pharmaceutical ingredient manufacturing facility that encompasses over 600,000 square meters and has 188 cubic meters of capacity.