HD Hyundai Heavy Industries announced on April 16 that it had signed a contract worth 640.6 billion won to jointly construct four naval vessels with the Peruvian state-owned SIMA Shipyard. Selected as the priority negotiating partner at the end of last month, the contract was formalized within appro
HD Hyundai Heavy Industries recently announced the signing of a technical memorandum of understanding (MOU) with global turbine company GE Aerospace for the development of an optimized propulsion system for export warships at the Sea Air Space 2024 exhibition in the United States on April 11.The agr
HD HHI announced on March 29 that it has been selected by Peru’s state-run SIMA Shipyard as a preferred bidder for joint local production of four ships: a 3400-ton frigate, a 2200-ton offshore patrol vessel and two 1500-ton landing ships. They are worth a total of US$462.9 million.HD HHI will design
Celltrion is expanding its market presence in Peru, a major Latin American country, by winning a series of successful public tenders.First of all, Truxima (rituximab) 500 mg won a tender held by the National Health Ministry of Peru (Centro Nacional de Abastecimiento de Recursos Estratégicos en Salud
SK Earthon is securing investment funds for future growth engines by selling its stake in Peru LNG Company, LLC.On Feb. 7, the company signed a stake transfer agreement with MidOcean Energy to sell 20 percent of its stake in Peru LNG for US$256.5 million.Peru LNG is a company that owns a liquefied n
JW Pharmaceutical announced on Jan. 15 that it has received approval from the Malaysian National Pharmaceutical Regulatory Agency (NPRA) for a phase 3 clinical trial plan, or investigational new drug (IND), of its gout treatment drug Epaminurad (code name URC102).The Phase 3 clinical trial for Epami
STX has secured a stake in a local lithium mine in Peru to secure lithium, a key material for secondary batteries and trade lithium concentrates.STX announced on Jan. 9 that it has secured a stake in a lithium mine located in Puno Province in southeastern Peru and an off-take right to sell lithium c
The National Tax Service announced on Dec. 27 that it has resolved 125 cases of double taxation through mutual agreement procedures with tax authorities in 16 countries from January to November this year to alleviate unfair double taxation for domestic and foreign taxpayers and create a favorable en
LG Chem is accelerating the development of its gout treatment, Tigulixostat. After the United States, the company has submitted a plan for phase 3 clinical trials in Europe.According to the electronic disclosure system of the Financial Supervisory Service on Aug. 21, LG Chem has applied for the glob
Daewoong Pharmaceutical announced on Aug. 20 that due to the global expansion of its self-developed botulinum toxin treatment “Nabota” and newly developed drugs such as Fexuclue and Envlo, its overseas exports have grown by more than 200% in the past two years.Exports, which stood at 448 billion won
The Chinese government has decided to virtually fully permit overseas group travel for its citizens for the first time in over three years since the onset of the COVID-19 pandemic. Consequently, Chinese group tourism to South Korea will resume after more than six years, unlocking the travel restrict
HK inno.N Corp. announced on July 24 that its new drug for gastroesophageal reflux disease, K-CAB (active ingredient: Tegoprazan), has been granted product approval by Peru's National Medicines Authority (DIGEMID) on July 21.In 2018, the company inked a contract with “Laboratorios Carnot,” a lea
Korea Aerospace Industries (KAI) announced on July 19 that it has held an opening ceremony for its base office at the Minsk Air Force Base in Poland. This is the sixth overseas base office opened by KAI, following those in Turkey, the Philippines, Indonesia, Peru, and Thailand.The Poland base office
Hyundai E&C announced that it has signed an agreement with Boryspil International Airport in Ukraine on July 14 (local time) for an airport expansion project. The signing ceremony took place in Warsaw, Poland, attended by Won Hee-ryong, minister of land, infrastructure and transport; Park Sun-ho, ch
The United Kingdom is expected to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) on March 31. With China, Taiwan, Ecuador, Costa Rica, Uruguay, and other countries expected to join it, the members are trying to determine how to negotiate with China and Taiwan.The 11 members
Daewoong Pharmaceutical announced on Nov. 14 that it has recently submitted a new drug application (NDA) for Fexuclue (substance name: Fexuprazan), a new gastroesophageal reflux disease treatment, to Colombia and Vietnam.The company has already submitted NDAs for Fexuclue to Brazil, the Philippines,
LS Group and Indonesia’s PT Perusahaan Listrik Negara (PLN, English: State Electricity Company) signed a strategic MOU on cooperation in power infrastructure development in Indonesia at Lotte Hotel in Seoul on July 28.The MOU between the two companies was followed by a business roundtable where Indo
Financial institutions in Busan City and African and Latin American ambassadors in South Korea had a meeting on June 11.Busan City announced on June 12 that it hosted Busan Familiarization Tour on June 10 and 11 by inviting Latin American and African diplomats in South Korea.Specifically, the city a
Foxconn, Apple’s largest supplier, plans to expand its plant in Chennai, India. As iPhone production in China has been halted due to a recent lockdown of Shenzhen, it is aiming to ramp up production in India.Apple and Foxconn recently received permission from the Tamil Nadu state government for the
Samsung Electronics will build its first refrigerator compressor plant in India by investing 250 billion won.The company and the government of Tamil Nadu in India signed a memorandum of understanding on the matter in Chennai on March 15 (local time), according to Samsung Electronics' Indian subs