Wednesday, June 23, 2021
Round-up of important news from major Korean dailies and from international media today
“Remarkable developments are made in the UAE for prosperity, innovation”
Ambassador Abdulla Saif Al Nuaimi of the United Arab Emirates in Seoul said that remarkable developments are occurring the United Arab Emirates (UAE) and that they relate to development, prosperity, and innovation. Then he said that the UAE has reached a historic achievement in the Middle East peace process through the signing of a peace agreement with Israel in September 2020 as part of the Abraham Accords. On Korea-UAE economic relations and cooperation, Ambassdor Al Nuaimi said, “Bilateral trade has performed well in recent years and in 2020 it totalled US$9.4 billion, and we look forward to further expanding this figure in the years to come.” Asked to introduce areas where Korean companies are wanted to invest in the UAE, Ambassador Al Nuaimi said, “There are many UAE sectors in which Korean companies seek to invest. These include the logistics, biological medicine, automotive, shipbuilding, mining, tourism, supply chain, fintech, renewable energy and information and communication technology sectors.”
Former Chief of State Affairs Lee Seok-joon joins Yoon Seok-yeol's camp
Former Prosecutor General Yoon Seok-yeol recruited Lee Seok-joon, 62, former chief of the Office for Government Policy Coordination for the then President Park Geun-hye administration, to the Yoon’s Presidential election camp on June 21. The Dong-A Ilbo reported that Lee Sang-rok, a spokesman for Yoon's Presidential campaign, told the vernacular daily newspaper on June 21, "Yoon recruited Lee, who has been in charge of the country's livelihood for more than 30 years in public office, with in-depth consideration." Lee told the Dong-A Ilbo on the phone, "I give thanks to Yoon. I will help Yoon as much as I can. I will meet with former Prosecutor General Yoon to work out our thoughts." Lee is expected to oversee the camp's policies and Presidential pledges. Lee, who passed the 26th highest civil service examinations, served as the head of the Ministry of Strategy and Finance's policy coordination bureau and a standing member of the Financial Services Commission before serving as the head of the Ministry of Economy and Finance's budget office in 2012. He also served as vice minister of the Ministry of Strategy and Finance at the then President Park Geun-hye administration.
Korea Energy Agency holds Korea-UAE Renewable Energy Business Meet-up Day
Korea Energy Agency announced on June 17 that it held the "Korea-UAE Renewable Energy Business Meet-up Day" at Intercontinental COEX in Seoul to support domestic energy leading companies' overseas expansion and create new business opportunities. In 2018, the agency signed a "business agreement to promote Korea-UAE renewable energy investment cooperation project" to combine Masdar's capital and Korean companies' technology to use it as an opportunity to promote domestic renewable energy investment. The conference was attended by Korea Midland Power Co., Korea East-West Power Co., SK Eco Plant, and Korea Electric Power Corp., along with UAE's Masdar Co. and only Korean company officials attended the conference on-site due to the influence of Covid-19. On the day, the consultation session was conducted in a one-on-one investment consultation method by each company, including sharing performance in the renewable energy sector, introducing projects planned and promoted by companies and discussing future cooperation.
Reservations for Unvaccinated Elderly for Pfizer Vaccine Begin
The government has started accepting reservations from unvaccinated senior citizens for the Pfizer COVID-19 vaccine on Wednesday. According to the state vaccination task force, senior citizens who made reservations for the AstraZeneca vaccine but have yet to be inoculated can now make appointments to receive the Pfizer vaccine next month. Around 200-thousand people - those aged 60 to 74 and those suffering from chronic respiratory diseases – will be allowed to make reservations through 6 p.m. next Wednesday and receive their first shots from July 5 to July 17. They need to first cancel their reservations for the AstraZeneca vaccine in order to apply for the Pfizer vaccine. The shift from AstraZeneca to Pfizer is reportedly due to the supply schedule for the third quarter with the Pfizer and Moderna vaccines expected to become the main vaccine products to be administered in the July to September period.
Kyodo: Japan Discussing with S. Korea Moon's Visit for Tokyo Olympics
Tokyo is reportedly in discussions with Seoul regarding President Moon Jae-in’s possible visit to Japan during the Tokyo Olympics. Kyodo News reported on Tuesday, quoting diplomatic sources, that South Korea informed the Japanese government earlier in June that Moon is considering attending the opening ceremony set for July 23. Seoul reportedly explained that Moon’s potential visit is in return for then Japanese Prime Minister Shinzo Abe’s attendance at the opening ceremony for the PyeongChang Olympics in February 2018. Kyodo reported that the issue might have been discussed during working-level talks in Seoul on Monday between Lee Sang-ryeol, director general for Asia and Pacific affairs at Seoul's Foreign Ministry, and his Japanese counterpart, Takehiro Funakoshi. A senior South Korean official told Kyodo that Seoul hopes Moon’s attendance at the Tokyo Olympics will serve as an opportunity for a bilateral summit with Japanese Prime Minister Yoshihide Suga. However, it is uncertain whether Tokyo will agree.
'US Remains Committed to Engaging N. Korea'
Washington says it remains hopeful for North Korea to positively respond to its outreach. U.S. Department of State spokesperson Ned Price relayed his government’s stance in a telephone briefing on Tuesday after North Korean leader Kim Jong-un’s powerful sister, Yo-jong, criticized the U.S. for having “the wrong expectations” for dialogue. Price said his government is aware of Kim Yo-jong’s statement but said it has not changed Washington’s view on diplomacy, adding “if these comments are followed up with any more direct communication about a potential path forward” needs to be seen. He said that the U.S. government remains prepared to engage in principled negotiations with the North to deal with the challenge of its nuclear program and that the U.S. police on North Korea is aimed at resolution, not hostility. Regarding Seoul and Washington’s recent agreement to consider ending their "working group" on North Korea policy, Price ensured the two sides will continue similar engagement “through a variety of diplomatic mechanisms at all levels of our governments.”
N.K. leader's sister says U.S. has 'wrong' expectation about dialogue
The sister of North Korean leader Kim Jong-un said Tuesday that the United States has "wrong" expectations after U.S. National Security Adviser Jake Sullivan called Kim's comments about dialogue with the U.S. an "interesting signal." The statement from Kim Yo-jong also came a day after U.S. Special Representative for North Korea Sung Kim said the U.S. has offered to meet with the North "anywhere, anytime without preconditions" and looks forward to Pyongyang responding positively to the overtures. "I heard the news that the U.S. National Security Advisor had mentioned that he regards the position towards the U.S. as an 'interesting signal,'" she said in the statement carried by the official Korean Central News Agency said. "A Korean proverb says that 'In a dream, what counts most is to read it, not to have it,'" she said. "It seems that the U.S. may interpret the situation in such a way as to seek a comfort for itself. The expectation, which they chose to harbour the wrong way, would plunge them into a greater disappointment."
Seoul nuke envoy stresses need to resolve N.K. issue through dialogue
South Korea's top nuclear negotiator stressed Tuesday the importance of resolving the North Korean nuclear issue through dialogue and diplomacy, casting it a great challenge to international security beyond the Korean Peninsula. Noh Kyu-duk, special representative for Korean Peninsula peace and security affairs, made the remark in a videoconference co-hosted by the French Institute for International and Strategic Affairs (IRIS) and the South Korean Embassy in France, as he explained Seoul's efforts to help resume the stalled nuclear talks between the United States and the North. "Ambassador Noh said in the keynote speech that the international community reaffirmed the shared commitment toward achieving the denuclearization of the Korean Peninsula through the recent South Korea-U.S. summit and the Group of Seven summit," the foreign ministry said. "He emphasized the importance of resolving the Korean Peninsula issue through dialogue and diplomacy," it said.
S. Korea, U.S. agree to consider ending 'working group' forum on N. Korea policy
South Korea and the United States have agreed to consider terminating their "working group" forum on North Korea policy, the foreign ministry said Tuesday, in what appears to be a conciliatory gesture to Pyongyang that has decried the forum as a hurdle to inter-Korean ties. Seoul's top nuclear envoy, Noh Kyu-duk, and his U.S. counterpart, Sung Kim, reached the agreement during their talks in Seoul on Monday, as they sought a coordinated strategy to resume nuclear diplomacy with Pyongyang. "During the talks between the top nuclear envoys, the two sides checked the operation of the existing working group and agreed to consider terminating it," the ministry said in a text message sent to reporters. The ministry said that the two sides agreed to strengthen their director-general level consultations in addition to dialogue between their chief nuclear negotiators.
Commenting on an alternative to the working group forum, First Vice Foreign Minister Choi Jong-kun mentioned a comprehensive policy dialogue involving director general-level diplomats of the two countries.
The Korea Herald (http://www.koreaherald.com)
Moon undecided on attending Tokyo Olympics
President Moon Jae-in remains undecided on whether to attend the Tokyo Olympics next month amid a yearslong stalled diplomacy with Japan over wartime history and trade. “Nothing has been decided yet,” Moon’s chief of staff for policy Lee Ho-seung told a radio interview Tuesday when he was asked whether the president intended to attend the Summer Olympics that kicks off in the Japanese capital on July 23. As for the prolonged feud between the two countries, he said the Korean government has been seeking dialogue with Japan without any preconditions. Lee’s remarks came after Moon’s failed meeting with Japanese Prime Minister Yoshihide Suga at the G-7 summit held in the UK earlier this month. Their brief encounters during the reception and dinner did not lead to a bilateral meeting. It was the first time for the leaders to meet in person.
Seoul, Washington agree to consider terminating working group on NK
South Korea and the US have agreed to consider ending a controversial working group on North Korea, the Foreign Ministry said Tuesday, as Washington’s point man on Pyongyang called for a resumption of dialogue with the recalcitrant regime. Pyongyang, however, poured cold water on the allies’ engagement gesture Tuesday when the North Korean leader’s powerful younger sister, Kim Yo-jong, issued a statement saying the US’ expectation for talks would “plunge them into a greater disappointment.” During a meeting on Monday in Seoul between visiting US special representative for North Korea Sung Kim and his South Korean counterpart, Noh Kyu-duk, the two agreed to look into terminating the working group, according to the ministry, while strengthening coordination at other levels.
Former ruling party leader Lee calls for soft power diplomacy
Rep. Lee Nak-yon, a former Democratic Party leader and presidential hopeful, said Tuesday South Korea should aim for “soft power diplomacy” in line with a global paradigm shift for peace and creativity. “The paradigm of the world order and development has been changing since the post-cold war era,” Lee said in his keynote speech of an international conference on international order. “The scope of the territory, the size of the population and military power are becoming less meaningful,” Lee said, adding that instead, demand for creativity has grown. “The world is moving toward the age of soft power, and this requires high-tech skills, cultural content and an inclusive capacity to share the fruits of development.” South Korea’s new diplomacy should aim for national development and fulfill its responsibility to the international community as a soft power.
The Korea Times (http://www.koreatimes.co.kr)
North Korea rejects US attempts to resume talks
North Korea shot down the hopes of the United States and South Korea for dialogue on inter-Korean cooperation and denuclearization, with Kim Yo-jong, the sister of North Korean leader Kim Jong-un, saying Washington had the "wrong" expectations for talks. "It seems that the U.S. may interpret the situation in such a way as to seek comfort for itself," Kim said in a statement carried by Pyongyang's official Korean Central News Agency, Tuesday. "The expectations, which they chose to harbor the wrong way, will plunge them into greater disappointment." The statement came after U.S. National Security Adviser Jake Sullivan said in an interview that the North was sending an "interesting signal," referring to Kim Jong-un's earlier comment during a Workers' Party meeting June 17 that Pyongyang should be prepared for both "dialogue" and "confrontation" with the U.S. Kim Yo-jong's statement came on the heels of efforts by Seoul and Washington to create a new conciliatory mood between the two Koreas, and Pyongyang and Washington, during the U.S. special envoy's visit here.
Ex-prosecutor general slams rumored 'X-file' against him as result of possible illegal surveillance
Ex-Prosecutor General and leading opposition presidential hopeful Yoon Seok-youl on Tuesday slammed a rumored secret document against him as a result of possible illegal surveillance of him by public authorities and the ruling party. The reaction from Yoon came as a dossier called the "Yoon Seok-youl X-file" is rattling the political circles in the run-up to next year's presidential election in March. The undisclosed file allegedly contains various allegations surrounding the former top prosecutor and his family members. While many see the content of the file as presenting nothing new, some others say the document may deal a heavy blow to Yoon's presidential bid. "If (the file) is something produced by the meddling of public institutions and the ruling party, it clearly constitutes illegal surveillance," Yoon said in a press release.
'Korean-style basic income system needed'
Jeju Governor Won Hee-ryong said the old should cooperate with the young in tackling the issues of deepening inequality among the younger generations, in order to build an equal and inclusive society. His remarks came during an online discussion session held Monday with Nobel Prize-winning economist Abhijit Vinayak Banerjee on inequality issues in Korea and the importance of public education and social welfare systems in addressing such problems. The session came ahead of the 16th Jeju Forum for Peace and Prosperity, scheduled to be held from June 24 to 26 on the southern island of Jeju by the Jeju Peace Institute. The discussion kicked off with Banerjee's lecture on his book "Good Economics for Hard Times," co-written with Esther Duflo. He viewed that Korea, like many other countries, has encountered increasing inequality, with the COVID-19 pandemic crisis exacerbating the gap between rich and poor. He pointed out trade and automation, which have displaced many low-skilled workers, as the two main factors of deepening inequality.
Chosun Ilbo (http://english.chosun.com)
Koreans Warned of COVID Variants
Korea has so far seen only 155 cases of the Delta or Indian variant of COVID-19, which is spreading in the U.K. and other parts of Europe. But health experts say even Korea should remain alert because so far only 30 percent of the population have been vaccinated. The Delta variant started spreading rapidly in western India early this year. It is both highly infectious and blends better with human cells than other variants, making it possible to overpower the immune system. Korea Disease Control and Prevention Agency Director Jeong Eun-kyeong said Monday, "There are reports that the Delta variant is more transmissible and more potent than the Alpha or U.K. ariant." Existing vaccines seem to be effective against it. Studies in the U.K. suggest that the AstraZeneca vaccine is at least 60 percent effective and the Pfizer vaccine around 88 percent.
N.Korea's Borders Still Tightly Closed
North Korea's borders remain so tightly sealed to the outside that even the country's own ambassador to China has been unable to return after his tour ended. Ji Jae-ryong remains in the embassy in Beijing together with his successor Ri Ryong-nam, a former vice premier, who arrived in February. The new Chinese ambassador to Pyongyang, Wang Yajun, has also been waiting to replace Li Jinjun in Pyongyang while the borders remain sealed. All flights and trains between China and the North were stopped a year-and-a-half ago, though some ships still carry vital cargo like fertilizer to the impoverished country. North Korean students who are stranded in China after finishing their courses have been put up in university dormitories. And North Korean restaurant workers, who should have been repatriated months ago under UN sanctions, are instead being bounced around various North Korean restaurants that remain open. Many of them have already been inoculated with Chinese coronavirus vaccines, but that seems to make no difference to the North Korean regime.
U.S. to Miss July 4 COVID Vaccination Goal of 70%
The United States will miss President Joe Biden's goal of having 70 percent of U.S. adults partially or fully vaccinated against the coronavirus by the July 4 Independence Day holiday, but the White House says it expects to hit that mark "in a few extra weeks." In a new assessment Tuesday of the country's vaccination effort, COVID-19 response coordinator Jeff Zients said the federal government expects that 70 percent of those 27 and older will have gotten at least one vaccination shot by the July 4 holiday, which he described as "a remarkable achievement." "The virus is in retreat," Zients said, with the country regaining a sense of normalcy. "We are entering a summer of joy, a summer of freedom." Now, he said, a renewed effort is being made to inoculate more younger adults in the 18-to-26 age group. Many of the younger adults, for various reasons, have shown little interest in getting vaccinated, especially since the number of new coronavirus cases and deaths has fallen sharply in the country in recent weeks and many businesses have reopened without facemask and social distancing restrictions that had been in place for more than a year.
HanKyoReh Shinmun (http://english.hani.co.kr)
Sung Kim visits S. Korea after Kim Jong-un mentions "dialogue"
After North Korean leader Kim Jong-un broached the possibility of dialogue with the Biden administration for the first time, attention is focusing on what message South Korea and the US' senior envoys on the North Korea nuclear issue will send to the North when they meet Monday. Noh Kyu-duk, South Korea's special representative for Korean Peninsula Peace and Security Affairs, and Sung Kim, the US special representative for North Korea, will be holding their first meeting in a hotel in Seoul on Monday. Their meeting is part of Kim's five-day trip to South Korea, which began on Saturday. Sung Kim will be accompanied by Deputy Assistant Secretary of State for East Asian and Pacific Affairs Jung Pak, who serves as the US deputy special representative for North Korea affairs, as well as by officials from the White House's National Security Council.
S. Korea, US need to bring N. Korea to negotiating table
South Korea and the US’ senior representatives on the North Korea nuclear issue are meeting in Seoul on Monday after North Korean leader Kim Jong-un made the first official mention of the possibility of dialogue with the Biden administration. As North Korea stands at the crossroads of dialogue and confrontation, we hope that South Korea and the US will send a calibrated message that will bring Pyongyang to the negotiating table. Sung Kim, the US special representative for North Korea, is currently visiting South Korea to explain the results of the US review of North Korea policy to figures from various areas. Kim will be meeting with Noh Kyu-duk, Seoul’s special representative for Korean Peninsula Peace and Security Affairs, on Monday and with South Korean Unification Minister Lee In-young on Tuesday. Depending on how the two sides follow up their summit last month and on what message the US sends to North Korea via Sung Kim, this could be a major step toward restarting the Korean Peninsula peace process.
S. Korea ranks ninth out of 12 countries examined for corporate governance, report shows
South Korean companies are having a tough time shedding their image of lagging far behind when it comes to their governance structures. They tend to rate very poorly even in international comparisons that are restricted to Asian countries. It’s a situation that bears some connections with routine violations of the rules, including the funneling of work to affiliates and questionable tactics to pave the way for later generations to inherit the management reins. Is there a possibility that this backward situation might now be improving? On Sunday, the Federation of Korean Industries released findings from an analysis of corporate governance structure reports from 175 non-financial companies. The results showed an average adoption rate of 64.6% for 15 total indicators as of 2020. The rate was up from 52.9% from an analysis in 2018 (161 companies), the year that mandatory publication of corporate governance structure reports was first instituted, and from 58.6% in a 2019 analysis (171 companies). This suggests that gradual improvements have been made over the past three years.
The Dong-A Ilbo (http://english.donga.com/)
College student becomes presidential secretary for youth-related matters
South Korean President Moon Jae-in chose Park Seong-min, a 25-year-old undergraduate who served as Democratic Party of Korea’s Supreme Council member, as secretary for youth-related matters and Kim Han-gyu, 47-year-old former legal counsel for the ruling party with no political career at the National Assembly, as secretary for political affairs. With the rise of People Power Party’s 36-year-old leader Lee Jun-seok who has never been part of the National Assembly, the waves of political innovation sweeping across the political spectrum have led South Korean presidential office Cheong Wa Dae to make such surprise staffing decisions. Joining the ruling party as a spokesperson to youth in 2019, Park became a top member of the party under the leadership of Lee Nak-yeon. Born in 1996, she is currently studying Korean Language and Literature at Korea University.
Iran, world powers announce a pause on nuclear deal
Negotiations to revive the Joint Comprehensive Plan of Action (JCPOA) have been suspended one day after Ebrahim Raisi, the hardline head of Iran’s judiciary, was elected as Iran’s new president. There are speculations that the Iran nuclear agreement will be stalled until Raisi officially takes office in August. According to Reuters, world powers, including the U.S., Britain, France, China, Russia, and Germany on Sunday announced a break in the talks, which have been ongoing in Vienna, Austria, for consultations in their capitals. Iranian Deputy Foreign Minister and top nuclear negotiator Abbas Araqchi said in an interview with a state-run television that they are “closer to a deal” but they are not still there, adding he is returning to Tehran today.
Sung Kim discusses N. Korean nuclear with S. Korea and Japan
The U.S. special representative for North Korea Sung Kim will start his official schedule by beginning a bilateral discussion with North Korean nuclear envoy in Korea and a trilateral discussion with Korea’s and Japan’s envoys. Kim’s message toward North Korea is garnering attention as North Korean leader Kim Jong Un recently announced his first official statement to the Joe Biden administration that his country should be ready for dialogue and confrontation with the U.S. A special representative for North Korea is a position that negotiates with North Korea. Sung Kim will meet with his South Korean counterpart Noh Kyu-duk at a hotel in Seoul on Monday morning after arriving in Korea on Saturday and having personal time until Sunday. It is the first discussion between North Korea special representatives in South Korea and the U.S. after the U.S. President Joe Biden publicly announced the appointment of Kim at a press conference after the South Korea-U.S. summit on May 21 (local time).
Democratic Party to Officially Promote the End of News Editing by Web Portals, “We’re at Their Disposal”
The Democratic Party of Korea will officially promote changes to remove news editing from web portals like Naver and Daum (first covered in the July 17, 2021 issue of the Kyunghyang Shinmun). By having users instead of web portals select the news from media outlets, the ruling party plans to rectify the sensational reporting of media outlets, which occurred when they were dependent on web portals. Reportedly, Naver has agreed to this measure, while Daum plans to make a decision according to future social consensus. In the first report by the Democratic Party of Korea’s special committee for media innovation on June 17, the party’s leader Song Young-gil said, “We will take the right to edit the news from web portals and return it to the people, allowing users to determine their media outlets.” Song said, “Most of the members of the press have not been able to say anything, but they are forced to rely on web portals and are at their disposal.” He further explained, “In the case of Naver and Daum, there was a need to resolve the problem of the portals editing and determining the news, despite that they did not create those articles.” Song referred to the web portals as the “Naver newspaper” and the “Daum newspaper.”
“Yoon Seok-youl to Announce His Presidential Bid at the End of This Month”
Former prosecutor general, Yoon Seok-youl (pictured), a rising opposition candidate in the next presidential election, announced on June 15 that he would officially declare his bid for the presidency as early as the end of June. Yoon had not stated any clear position on this issue only communicating through his acquaintances for over three months since he stepped down as prosecutor general on March 4. This was the first time that he expressed his intention to run for president along with a timetable. However, Yoon has yet to reach a conclusion on whether to join the People Power Party and if so, when he will join the major opposition. This day Yoon’s spokesperson, Lee Dong-hoon told reporters, “Yoon is considering an announcement on his entering politics,” and said, “It will be in late June or early July.” Lee further said, “Yoon suggested that we use a shared office in Yeouido for his office,” and added, “He is reviewing everything including these details.”
Restaurants to Open Until Midnight. Restriction on Gatherings Lifted Outside the Greater Seoul Area
On June 20, the government released new physical (social) distancing guidelines after four months of deliberation. The government significantly eased preventive measures from the draft released in March and drew up more detailed guidelines for public facilities. The government plans to restore everyday life more quickly and broadly than it originally planned. The new system, which will be applied beginning July 1, reduced the number of distancing levels from five to four. The current 0.5-level margins had been criticized for failing to sufficiently reflect the difference in risks in each level, and it was difficult to quickly adjust the level of distancing. Authorities also considered the fact that current regulations to prevent contagion resulted in damages concentrated on self-employed business owners and store owners. “It was group punishment where the majority of the good groups who faithfully followed the guidelines suffered damages because a few facilities failed to abide by the guidelines,” said Kim Yoon, a professor at Seoul National University College of Medicine.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Hyundai Mipo Dockyard building the world’s largest fleet in methanol fuel for Maersk
South Korean shipbuilder Hyundai Mipo Dockyard will be making a fleet of the world’s biggest methanol-powered vessels for Maersk, another demonstration of Korean shipyard’s leadership in green maritime technology. According to multiple sources from the shipbuilding industry and foreign media sources, the dockyard under Korea Shipbuilding & Offshore Engineering Co. (KSOE) signed a letter of intent with world’s biggest container line Maersk to build three 3,500 twenty-foot equivalent unit (TEU) methanol-fueled freight carriers including options in what would be the largest fleet in the novel fuel.
K-bio firms anticipate another bumper year in out-licensing
Korean healthcare companies anticipate another bumper year in out-licensing agreements, having already achieved more than 5 trillion won ($4.4 billion) in the first half, or half of last year’s best record. According to Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) on Sunday, the local pharmaceutical and biotech industry won a total of eight license deals in the first six months this year. The combined confirmed value is 4.81 trillion won and it would exceed 5 trillion won if undisclosed deal values of LG Chem and Nibec are included.
Korea United Pharm stock rally upon winning $54 mn deal to provide drugs to Mexico
Shares of Korea United Pharm Inc. rallied Monday after it won a deal to supply $54 million worth anti-cancer medicines to Mexico by 2024. The Korean drug maker signed a contract with Medimex, a medical supplies procurement company designated by the Mexican government, to supply 16 types of anti-cancer drugs to seven state-led medical institutions including the Institute of Health for Welfare (INSABI) and the Mexican Institute of Social Security (IMSS). ‘ The Kospi-trading stock ended Monday 4.7 percent higher at 53,300 won. The company will ship a total of $54 million worth anti-cancer medicines to the country by 2024, with the first batch of $14.04 million worth drugs to be delivered this year. The Mexican government visited Korea United Pharm in March as part of the Korea Trade-Investment Promotion Agency (KOTRA)’s medicine export support program in an effort to relieve the country’s medicine shortage.
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