Cutting edge: LG Chemical shows how Korean firms can innovate
Article Abstract:
South Korean chemical company LG Chemical has developed two innovative, genetically-engineered drugs. The company has overturned the stereotype usually associated with Korean firms of lacking inventiveness and has signed strategic alliances with the UK's SmithKline Beecham (SKB) and America's Warner-Lambert to develop the drugs. The $37.8 million deal with SKB is for an anti-infective medication, while the $40 million agreement with Warner Lambert covers an oral anticoagulant. LG has new products in the offing, including a deal with a US partner to develop a vaccine for HIV.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Separate problems
Article Abstract:
South Korean shares performed badly in 1996 but the South Korean situation is different from that in troubled Thailand. Although the Korean share index fell by over 22% in 1996 it rose again by 14% by Jun 1997. Korea does not have the rampant property market with which Thailand suffered. It has also maintained a flexible exchange rate, and tight control over inward capital flows. There are situations which could possibly lead to a stockmarket crash, including recession in key Korean markets overseas, but the Korean stockmarket is greatly aided by stable foreign investment.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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The next wave
Article Abstract:
South Korea aims to cut logististics costs by investing in infrastructure. This is one way to boost competitiveness which is easier to influence than technology, land prices and wages. Projects under way include a high speed railroad link from Pusan to Seoul, and new terminals at Pusan port, due to open in 1998. The government aims to reduce spending on logistics to 10% of gross domestic product (GDP) in 2003 frm 15.7% in 1994, the latest year for which data are available.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Comment about this article or add new information about this topic:
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