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[News Article] Samsung Biologics lands further Pfizer deals in record year

Samsung Biologics lands further Pfizer deals in record year    BY SHIN HA-NEE, Korea JoongAng Daily - Pharma manufacturer Samsung Biologics has secured $897 million worth of deals from Pfizer Ireland Pharmaceuticals, the Incheon-based company said Tuesday. The deals, which followed a letter of intent signed with Pfizer in June, are a $704-million contract manufacturing organization (CMO) deal and an additional $193 million order from a previous contract worth $183 million inked on March 2. CMOs refer to companies that provide drug manufacturing services on a contract basis. With the addition of the latest contracts, Samsung Biologics’ contract value this year from Pfizer totals $1.08 billion. The combined value of all of the CMO contracts signed by Samsung Biologics so far this year comes in at $1.49 billion, already outrunning last year’s total of $1.37 billion. The contracts marked the largest CMO deals ever for Samsung Biologics since the company’s establishment in 2011, surpassing a $351 million deal with AstraZeneca in 2020. The two contracts are a follow-up of the $411-million letter of intent announced in a regulatory filing on June 8. Under the deals, Samsung Biologics will manufacture Pfizer's biosimilar products including tumor and inflammation treatments at its fourth plant in Songdo. Samsung Biologics recently started full operation of its fourth plant, in Songdo, Incheon, which has a production capacity of 240,000 liters (63,401 gallons). It is the world’s largest single pharmaceutical manufacturing facility. The latest plant brought the company's annual production capacity to 604,000 liters, which Samsung Biologics said is equivalent to nearly 30 percent of the global contract manufacturing market for biopharmaceuticals. Moreover, Samsung Biologics announced in March that it will invest 1.98 trillion won ($1.5 billion) to build its fifth production plant, which started construction in April.   While Samsung Biologics previously stated in a regulatory filing that the commercial operation of Plant 5 will begin on September 2025, the project is expected to be fast-tracked by five months. The upcoming Plant 5 will sit on a 96,000 square-meter (23-acre) site in Bio Campus II, Samsung Biologics’ new manufacturing complex in Songdo. Once the new factory, which will have a 180,000-liter production capacity, begins operations, Samsung Biologics said it will boast the largest combined production capacity among global biomedicine contract manufacturers at 784,000 liters. The company is currently operating a research and development center for contract development in San Francisco, which was established in 2020, and opened a local sales office in New Jersey in March. Samsung Biologics' share price closed at 746,000 won on Tuesday, up 0.4 percent from the previous trading day. Source: https://koreajoongangdaily.joins.com/2023/07/04/business/industry/Korea-Samsung-Biologics-CDMO/20230704150421743.html 

2023.07.07
[News Article] Korean Air boosts ESG efforts

Korean Air boosts ESG efforts  By Lee Jung-joo, The Korea Herald - South Korea’s flag carrier Korean Air attracted the attention of the global airline industry during the annual gathering of the International Air Transport Association held in Istanbul last month, during which it shared its enhanced efforts for more sustainable management. Korean Air said it has focused on environmental, sustainable and governance management since 2021, and the same year also released its own ESG report. “Environmental issues, such as global warming, climate change and environmental degradation have been countlessly addressed but are no longer issues that can be addressed in the distant future,” said Hanjin Group Chairman Walter Cho in a press release. “Rather, they are immediate challenges that our generation must face.” During the IATA gathering, Korean Air announced that the firm plans to achieve net-zero carbon emissions by 2050. To achieve this goal, the airline has been using eco-friendly aviation fuel, also known as Sustainable Aviation Fuel or SAF. SAF is a type of jet fuel made from eco-friendly resources, such as animal and vegetable oils, algae and municipal waste gas rather than traditional resources like petroleum and coal. It is two to five times more expensive than traditional jet fuel being used, but can reduce carbon emissions by up to 80 percent. In November 2017, Korean Air operated its first international flight from Incheon to Chicago using SAF. Since last year, SAF was also used for all regularly scheduled flight services between Incheon and Paris. It is the only Korean airliner that uses the eco-friendly fuel. Korean Air also sold various merchandise that was upcycled from aircraft parts that otherwise would have been discarded. Since 2021, the airline has sold luggage tags made from aircraft skin which were a big hit. In May, golf ball markers also made of aircraft skin were also sold. Additionally, used blankets were remade into insulated water bags and worn-down life jackets were repurposed into cosmetic pouches. All proceeds made from Korean Air’s sales were donated to environmental organizations. Korean Air, equipped with its own aerial vehicle development know-how, is also betting big on urban air mobility or UAM. It is leading one of the consortiums to join the government-funded UAM pilot programs. Source: http://www.koreaherald.com/view.php?ud=20230705000632&np=1&mp=1

2023.07.07
[News Article] POSCO gears up for big stride as green material firm with Hyper NO

POSCO gears up for big stride as green material firm with Hyper NO  By Sungsu Bae, The Korea Economic Daily - South Korea’s steel pioneer POSCO under POSCO Holdings Inc. is preparing to take another big stride as an eco-friendly materials provider with its latest steel manufacturing facilities being built in Gwangyang, some 300 kilometers south of Seoul, that will produce its premium electrical steel for electric vehicle motors. The construction of a new electrical steel factory inside POSCO’s Gwangyang Steelworks in South Jeolla was still underway last Thursday when the site was unveiled to the media. A pile of equipment and machines inside the 240,000-square-meter factory, however, suggests POSCO has no issue with its initial plan to complete the first phase of the factory construction by October this year. This means the Korean steel giant will be able to churn out 150,000 tons of Hyper NO steel per year from the new factory from this fall. By October next year, POSCO will finish the second and last construction phase, which will enable the new factory to produce 300,000 tons of Hyper NO steel in total. Combined with the existing Hyper NO production facility in Pohang, home to POSCO, the steelmaker will be capable of producing total 400,000 tons of Hyper NO steel in late 2024. This is enough to make drive motors for 5 million EVs every year. EV BOOM A BOON TO HYPER NO Hyper NO is the brand of POSCO’s non-oriented electrical steel with homogeneous magnetic properties in all directions, making it a perfect core material for electric motors, like EV drive motors, and large power generators. POSCO is pinning high hopes on this premium steel product in the EV era. Hyper NO boasts high magnetic flux density and significantly low core loss. The electrical steel with low core loss can speed up the motor and extend the EV driving range. Hyper NO is high-efficiency electrical steel with a core loss of 3.5 watts per kilogram. Its demand is rapidly increasing in line with the growing EV market. This is one reason why POSCO in April last year poured 1 trillion won ($767.2 million) into building the Hyper NO factory in its Gwangyang steel plant, Korea’s biggest steel mill. POSCO is equipped with the world’s leading technology that can produce Hyper NO steels with a thickness of 0.15 millimeters, the thinnest in the world. The thinner the better for preventing electrical energy loss during the motor running. “POSCO’s Hyper NO boasts 30% less energy loss than ordinary electrical steel,” said Ahn Hyeong-tae, the head of POSCO’s Hyper NO advancement task force. “POSCO is the only Korean steelmaker that can produce electrical steel.” Hyper NO steel sheets are made from hot rolled coil after going through annealing to remove scales and recrystallize them as well as insulation coating. GREEN MATERIALS PRODUCER Along with Hyper NO, POSCO will continue to strive to further advance its GIGA steel, the brand for its advanced high-strength steel for automotive use. Demand for its high-strength steel is also growing thanks to its light weight, while maintaining strength. EVs need light materials because of the battery pack that makes EVs 25% heavier than combustion-engine cars in general. POSCO has been capable of producing 1 million tons of GIGA steel since September 2021. It in May completed its integrated GIGA steel processing facility in POSCO-CSPC, at POSCO’s steel processing center in Suzhou, China. It also plans to add the GIGA steel line to its automotive galvanized iron plant with a production capacity of 900,000 tons a year now under construction. With the two cutting-edge automotive steel technologies, POSCO will accelerate its transformation into a green materials company. Its parent POSCO Holdings was officially launched in March last year with a goal to nurture the steel group into an eco-friendly future materials producer. Source: https://www.kedglobal.com/steel/newsView/ked202307060023 

2023.07.07
[News Article] CJ Logistics to invest 600 billion won to build logistics centers in U.S.

CJ Logistics to invest 600 billion won to build logistics centers in U.S.   BY SEO JI-EUN, Korea JoongAng Daily - CJ Logistics will invest 600 billion won ($459 million) to build logistics centers in the United States in cooperation with state-run Korea Ocean Business Corporation (KOBC), marking the first case in which private and public companies will jointly build such centers abroad. The construction of these logistics centers is scheduled to commence in the first quarter of the upcoming year, with a phased completion anticipated between the first half of 2026 and 2027. The logistics centers will be located on sites owned by CJ Logistics America, including Elwood and Des Plaines in Illinois, as well as Secaucus in New Jersey. The three areas — totaling 360,000 square meters (88.6 acres) — are located near major logistics and distribution hubs like Chicago and New York, the company explained. They are established to serve as a strategic export base for Korean companies and to expand the global reach of the national logistics supply chain. While CJ Logistics will provide the land for the project, KOBC will be responsible for finding funding from financial companies. The establishment of these logistics centers marks the first-ever collaborative effort between a government agency and a private enterprise to construct a logistics network overseas. “The North America Project holds significant meaning as it represents a joint effort between a government entity and a private enterprise to support Korean companies' entry into the United States, the world's leading economic market, and raise their global competitiveness,” CJ Logistics wrote in a statement. Korean companies have recently made investments in various sectors such as electric vehicles, batteries and semiconductors in the United States.   "We are committed to supporting Korean companies and e-commerce sellers as they enter the U.S. market,” said Kang Sin-ho, CEO of CJ Logistics. "The construction of logistics hubs in the United States will enhance the competitiveness of Korea's global supply chain and create value-added supply chain services through integration with maritime logistics,” Kim Yang-soo, CEO of KOBC, said. Source:https://koreajoongangdaily.joins.com/2023/06/28/business/industry/Korea-CJ-Logistics-Korea-Ocean-Business-Corporation/20230628163147122.html 

2023.07.07
[News Article] Posco vows to invest W121tr for next big leap

Posco vows to invest W121tr for next big leap   By Shim Woo-hyun , The Korea Herald - Posco Group announced Monday that it will invest 121 trillion won ($93 billion) by 2030 to step up as a global leader in eco-friendly materials. The new investment plan was announced during a ceremony celebrating the 50th anniversary of Posco’s first steel mill set up in Pohang, North Gyeongsang Province, in 1973. “With the investment, (the group) will secure future technologies, stay ahead in the growing industries and work toward a sustainable future through green materials,” Posco Group Chairman Choi Jeong-woo said at the ceremony. Under the plan, Posco said it will consolidate its leadership in the steel manufacturing business while seeking aggressive expansion of its burgeoning battery materials and hydrogen businesses. The steel giant’s hydrogen push, especially its wider adoption throughout the steelmaking process, will help the group become carbon neutral by 2050, the group stressed.  The Posco chief added that over 60 percent of the planned investment, or 73 trillion won, will be spent in boosting its Korean operations in Pohang, Gwangyang in South Jeolla Province and other regions, for balanced regional development and the creation of new jobs at home. The group said its domestic investment alone is expected to generate a production inducement effect of 121 trillion won per year and create some 330,000 new jobs a year through 2030. Monday’s ceremony was also attended by Posco Group Vice Chairman Kim Hak-dong, North Gyeongsang Province Gov. Lee Cheol-woo, Pohang Mayor Lee Kang-deok and other officials from Posco and local government. Posco started the construction project for its first steel mill in April 1970. A total of 120 billion won was injected to build 22 manufacturing facilities that paved the way for the growth of the nation’s heavy industries, including shipmaking and automobile production. The facilities also helped drastically reduce the nation’s huge dependency on steel imports at the time. “Construction of the first mill in Pohang was a historical turnaround in the country’s economy,” Choi said. "As much as its steel business has helped Korea boost its economic development, Posco Group will continue to nurture its major businesses, involving steel, secondary battery materials and hydrogen, to step up as a global business leader that can contribute to the sustainable future of humanity.” Source: http://www.koreaherald.com/view.php?ud=20230703000693&np=2&mp=1 

2023.07.05
[News Article] 컬리어스, 아태 부동산 어워즈 한국 '최우수 에이전시·컨설턴시' 부문 수상

컬리어스, 아태 부동산 어워즈 한국 '최우수 에이전시·컨설턴시' 부문 수상  이데일리 김성수 기자 - 글로벌 부동산 컨설팅업체 컬리어스는 2023~24 아시아 태평양 부동산 어워즈에서 ‘한국 최우수 부동산 에이전시·컨설턴시’ 부문에 수상했다고 4일 밝혔다. 아시아 태평양 부동산 어워즈는 올해로 30주년을 맞이했다. 아시아 태평양 지역 건축, 인테리어 디자인, 부동산, 토지 개발 부문 등에서 최고의 성과를 거둔 업체를 시상하는 업계 최대 규모 시상식이다. 아시아 태평양 부동산 어워즈를 받으려면 글로벌 80 명 이상의 업계 전문가로 구성된 독립적인 패널 심사를 거쳐야 한다. 부문별로 매년 각국의 부동산 전문 에이전시 중에서 선정된다. 컬리어스 코리아는 작년에 이어 2년 연속 수상했다. 이로써 한국 내 상업용부동산 컨설팅사로 영향력과 전문성을 인정받았다. 컬리어스 코리아 대표이자 주한미국상공회의소(AMCHAM) 부동산 협회 공동의장직을 맡은 로버트 윌킨슨은 “지난 12개월간 컬리어스 코리아는 어려운 경제상황에도 고객에게 최고의 서비스를 제공해 왔다”며 “상을 받을 수 있게 아낌없이 노력한 전 직원에게 감사의 말을 전한다”고 말했다. 이어 “앞으로도 고객과 직원의 성공을 더욱 앞당길 수 있도록 노력하겠다”고 덧붙였다. 출처: https://www.edaily.co.kr/news/read?newsId=02978246635671240&mediaCodeNo=257 

2023.07.05
[News Article] LG엔솔, 미국 홀랜드 공장 확장…EV배터리 시장 선점

LG엔솔, 미국 홀랜드 공장 확장…EV배터리 시장 선점  글로벌이코노믹 홍정화 기자 - LG에너지솔루션(이하 LG엔솔)은 미국 미시간주 홀랜드시에 있는 리튬이온배터리 공장을 대규모로 확장하기 위해 17억 달러(약 2조2357억원)를 추가 투자한다고 1일(현지시간) 발표했다. 이는 미국 내 전기차 시장의 성장과 수요 증가에 대응하기 위한 조치이다.   LG엔솔은 현재 연간 5GWh 규모인 생산능력을 25GWh로 5배 늘릴 계획이다. 이를 위해 기존 캠퍼스에 170만 평방피트(약 15만8000㎡)의 시설을 추가하고, 인공지능을 활용한 스마트 시설로 구성한다. 2024년 4월에 완공될 예정이며, 1,000개의 일자리를 창출하게 된다.   LG엔솔은 전기차 배터리 시장에서 성장세를 보이고 있다. 지난해 4분기에는 미국 제너럴모터스(GM)와의 합작공장에서 배터리 출하가 시작되어 사상 최대 분기 실적과 연간 이익을 경신했다. 올해에도 미국 시장 진출 효과가 지속될 것으로 전망된다. 현대자동차, GM, 혼다, 스텔란티스 등 북미 자동차 기업들이 LG엔솔의 파우치 배터리와 원통형 배터리를 채택하고 있다. 특히 테슬라가 LG에너지솔루션의 원통형 배터리를 적용한 것은 큰 호재로 평가되고 있다.   LG엔솔은 올해 설비 투자를 50% 확대하고 판매 가격을 인상하는 방안을 모색하고 있다. 또한 차세대 배터리 개발도 강화해 나갈 계획이다. 이러한 성과와 전략은 LG엔솔의 미국 내 배터리 셀 공장에서 생산된 원통형 배터리의 장기적인 공급을 확보한 프로테라와의 장기 배터리 공급 계약과 연관이 있다. LG엔솔과 미국 전기버스 업체 프로테라는 2028년까지 프로테라를 위한 LG에너지솔루션의 배터리 셀의 안정적인 공급을 보장하는 계약을 체결하였다.   LG엔솔은 미시간주 공장 증설에 주 보조금과 세금감면 조치를 승인받았다. 미시간주 공장 건립이 확정되면 미국 배터리 생산능력은 총 150GWh까지 늘어나게 된다. LG엔솔은 전 세계적으로 다양한 배터리 생산공장을 운영하고 있다. 지난해 기준으로 전기차 배터리 생산능력은 연산 155GWh이다. 충북 오창(18GWh), 중국 남경(62GWh), 폴란드 코비 에르지체(70GWh) 등에서 생산하고 있으며, 스마트팩토리 구축을 가속화하고 있다.  회사는 앞으로 북미 전기차 배터리 시장에서 리더십을 공고히 할 계획이다. 이를 위해 제너럴모터스(GM), 혼다, 현대차와 합작공장을 건설하고 애리조나주에 단독 생산시설(43GWh)도 설립한다.  업계 관계자는 "회사의 글로벌 네트워크는 물류비용을 최적화하고 시장 변화에 더 잘 적응하는 데 큰 도움이 될 것"이라고 평가한다.   ◇글로벌 전기차 시장의 성장 현황  국제 에너지 기구(IEA)는 2022년 5월에 발표한 글로벌 전기 자동차 전망에서 2022년 전 세계적으로 1000만 대 이상의 EV가 판매되었고 올해는 35% 성장한 1400만 대를 기록할 것으로 예상했다. 이렇게 되면 전체 자동차 시장에서 EV의 점유율은 2020년 약 4%에서 올해 말까지 18%로 성장하게 된다. 골드만 삭스는 EV가 2035년까지 전 세계 신차 판매의 약 절반을 차지할 것이라고 예측했다. 전기차의 점유율은 급증하고 있다. 전 세계 국가들이 환경오염을 줄이기 위해 전기차 보급에 적극 나서고 있기 때문이다. 국제 에너지 기구(IEA)가 발표한 최근 보고서에 따르면, 전기차 시장 점유율 순위는 중국이 1위로 가장 빠르게 성장하고 있다. 2035년에는 절반에 가까운 비중을 차지할 것이라고 골드만 삭스는 전망했다. 중국은 전 세계 전기차 판매량의 60%를, 유럽이 15%, 미국은 8% 정도의 점유율을 보이고 있다.   ◇전기차 배터리 시장의 규모  전기차 보급 확대와 함께 배터리 시장도 동시에 성장하고 있다. 이 시장은 2029년까지 약 116조원에 달하는 규모로 커질 것으로 예상된다. 중국의 CATL이 1위를 차지하고 있으며, 한국의 LG엔솔은 2위를 차지하고 있다. LG엔솔은 미국과 유럽에서 생산규모를 확대하고, 스마트 팩토리를 구축하여 생산성을 향상하고 있다. LG엔솔은 북미시장에서의 우위를 유지하고 있다.  한국에서도 전기차 인기가 높아지고 있다. 올해 1월부터 9월까지 국내에서 판매된 전기차는 약 7만1600대로, 지난해 같은 기간보다 96% 증가했다. 한국은 세계 판매량 7위이다.   Source: https://news.g-enews.com/article/Global-Biz/2023/07/20230702085240370e8b8a793f7_1?md=20230702085510_U 

2023.07.05
[News Article] Mirae Asset Securities recognized for ESG efforts

Mirae Asset Securities recognized for ESG efforts    BY SOHN DONG-JOO, Korea JoongAng Daily - Mirae Asset Securities was graded A by the local environmental, social and governance (ESG) ratings agency Sustinvest, the brokerage company announced Friday. The company has been keeping tabs on ESG since 2006 to foster a sustainable financial business. Establishing medium and long-term goals for ESG criteria and taking phased steps to meet the goals with sub-level tasks contributed to the rating, the company said. It became the first securities company to make a long-term renewable energy certificate (REC) purchase in February as part of its goal to achieve RE100 by 2025. RE100 is a global campaign to replace all electricity generated by fossil fuels with renewable energy by 2050, and purchasing RECs is one way of achieving RE100. RECs are tradable instruments issued when one megawatt-hour of electricity used is generated from a renewable energy resource. Mirae Asset aims to be carbon-neutral by 2040. The financial firm was the first Korean securities company to receive ISO 45001 certification, an international standard for occupational health and safety. It changed its dividend policy at the general shareholders meeting earlier this year to allow investors to buy shares after the dividend yield is determined, starting from 2024. “Mirae Asset Securities will continue to practice sustainable finance, especially on transparent management, to pioneer a sustainable future with investment and fund management,” a spokesperson at the company said. Source: https://koreajoongangdaily.joins.com/2023/06/30/business/industry/mirae-asset-securities-ESG-ISO-45001/20230630182843014.html

2023.07.05
[News Article] GS Caltex, Korean Air join hands to test bio jet fuel

GS Caltex, Korean Air join hands to test bio jet fuel    The Korea Times - GS Caltex and Korean Air joined hands to carry out test flights using bio jet fuel, the companies said Thursday, in the latest step in the green energy transition toward a reduced carbon footprint. The two companies signed the memorandum of understanding, under which the oil refiner will supply biofuel, known as sustainable aviation fuel (SAF), to the flag carrier on select international flights departing from Incheon, west of Seoul, the main gateway to Korea, they said in press releases. The test flights will take place over a six-month period starting in the second half of 2023. The partnership is part of joining the government's initiative to boost the supply of biofuels. Based on the test outcomes, the Korean government plans to draw up guidelines for domestic SAF use and set quality standards prior to full-scale domestic production. SAF, unlike nonrenewable fossil fuels, is produced with animal or vegetable oils, algae and solid waste. It can reduce carbon emissions by up to 80 percent compared with conventional fossil jet fuel. The European Union is mandating that airlines refueling in its territory use a minimum 2 percent SAF blend from 2025. Many countries, including the United States, are adopting various policies, such as tax incentives, to expand SAF production. The net-zero mission for international flight operations has also been pushed for by the International Civil Aviation Organization, advising states commit to the goal of reaching net-zero by 2050. (Yonhap) Source: https://www.koreatimes.co.kr/www/tech/2023/07/129_353942.html

2023.07.05

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