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The latest Korea – Iraq Business News – housing, construction, company Kogas, & more – brought to you by Iraq Business News

AirSada wins Medevac Contract with Hyundai in Basra

By John Lee. The Turkish-based private jet charter company AirSada has won a second contract to supply medical evacuation (medevac) services, this time to South Korea's Hyundai Engineering and Construction in Iraq. The contract with AirSada, which runs to September 2025, includes air ambulance and medical treatment services. It was signed by Mr Tolga Urcu, […]

NIC appoints Firms to Investigate Bismaya Housing Project

By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has received approval from Iraq's Council of Ministers to hire an international law and an international auditing firm to investigate previous contracts at the Bismaya Residential City. According to a statement from the NIC, the firms will "propose a financial model, […]

1,000 SMEs Financed by IOM's Enterprise Development Fund

Sustainable Living in Iraq: A Milestone 1,000 SMEs Financed Through IOM's Enterprise Development Fund At the conclusion of Iraq's devastating conflict with the Islamic State in Iraq and the Levant (ISIL), small and medium enterprises (SMEs) found themselves without access to the finance necessary to rebuild in the wake of the war's large-scale destruction. In […]

Korea gives Additional $3m to Stabilization in Iraq

The Republic of Korea has contributed an additional US$ 3 million to UNDP's flagship programme the Funding Facility for Stabilization (FFS), which has been implementing critical  initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). This is Korea's seventh contribution to the FFS since 2015, bringing its total contribution […]

KAI wins $360m Contract with Iraqi Air Force

By John Lee. Korea Aerospace Industries (KAI) has announced a contract worth $360 million from the Iraqi Air Force. Under the deal, KAI will provide logistics support, education and training for the T-50IQ aircraft over a three-year period, starting January 2022. The T-50IQ Fighting Eagle light fighter and trainer aircraft is the Iraqi Air Force […]

Korea Supports Vulnerable Families in Iraq

The Republic of Korea supports vulnerable families in Iraq to put food on the table The United Nations World Food Programme (WFP) has received a US$1 million contribution from the Republic of Korea to support WFP's food assistance for up to 327,000 internally displaced people (IDPs) and Syrian refugees until the end of the year, […]

CITIC Construction Wins $3.7bn Iraq Power Deal

By John Lee. China's CITIC Construction has won the bid for the first and second phases of AI Khairat heavy oil power plant in Iraq. Yang Jianqiang, Deputy President of CITIC Construction, held talks with Mazin Wajih, Chairman of Harlow International, in Dubai representative office, and received the letter of acceptance issued by Mazin Wajih. […]

$3m for Survivors of Gender-Based Violence in Iraq

The Country Director of Korea International Cooperation Agency (KOICA) in Iraq, Mr Lee Dong Hyun and UNFPA Representative to Iraq, Dr Rita Columbia, signed a two-year agreement of 3 million dollars, in partnership with the Ministry of Health and Environment and the Ministry of Labour and Social Affairs. This new grant will go towards assisting […]

Supporting Small Businesses in Baghdad, Ninewa and Kirkuk

IOM, KOICA Partner to Support Local Economic Recovery in Baghdad, Ninewa and Kirkuk Decades of conflict in Iraq coupled with the COVID-19 outbreak have severely affected human capital, intensified poverty, and undermined individuals' ability to find decent and sustainable jobs. The consequences of conflicts are especially severe for vulnerable returnees, internally displaced persons (IDPs) and […]

PM lays Foundation Stone for next phase of Grand Faw Port

By John Lee. Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for the next phase of the giant Grand Faw Port project. This phase consists of: The construction of five berths for container ships; Creating the container storage and handling yard, and digging the inland shipping channel; Building the external navigation channel; Building a […]