Tag Archives | korea

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

Hyundai to Build Al-Khairat Power Station

The Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. The Cabinet discussed the needs of Iraq's health sector, and agreed several measures to expand existing capacity and introduce new services. The measures included: Adding additional ward capacity for the treatment of cancer patients at the National Amal Hospital and the […]

UNICEF, Korea to provide Water and Sanitation in Iraq

UNICEF partners with the Republic of Korea to provide water and sanitation services for the most vulnerable children in Iraq Approximately 3 million children and young people across Iraq need humanitarian support as they try to recover from years of conflict and violence. The Republic of Korea has partnered with UNICEF and contributed US$1 million […]

GB Auto "ends Hyundai Representation in Iraq"

By John Lee. GB Auto (Ghabbour Group) has reportedly decided to cease its representation of Hyundai passenger cars in Iraq. According to Daily News Egypt, the company rejected Hyundai's new multi-distributor strategy, on the basis that such models never yield proper returns on investment. It adds that Hyundai had a market share of approximately 25 […]

Iraq receives final Korean Fighter Jet

By John Lee. Iraq has reportedly received its 24th and final Korea Aerospace Industries (KAI) T-50IQ Fighting Eagle light fighter and trainer aircraft, which is the Iraqi Air Force variant of the T-50 Golden Eagle/FA-50 Fighting Eagle. According to Janes, the delivery of the final batch of aircraft marks an end to the six-year procurement […]

Daewoo Wins $86m Iraq Order

By John Lee. South Korea’s Daewoo Engineering & Construction has reportedly won an $86 million order to build a prefabrication yard for a tunnel project at the new Al Faw Grand Port in Basra. Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo will complete the Khor Al-Zubair immersed tunnel prefabrication […]

Zubair Oil Production hits 500k bpd

By John Lee. Zubair oilfield has reportedly reached a production level of 500,000 barrels of crude oil per day (bpd). According to Business Korea, Kogas made the announcement on Thursday, adding that its "second-stage goal" is 700,000 bpd. The project is being developed by Eni (32.81%), Kogas (18.75%), Maysan Oil Company (25%), and South Oil […]

Iraqi Air Force receives more Korean Fighter Jets

By John Lee. The Iraqi Air Force has received another six new T-50 fighter jets under a contract with Korea Aerospace Industries (KAI). According to previously-released information, Iraq's T-50 fleet is planned to grow to 24 by early next year. (Source: Iraqi Air Force)

Korean Support helps Stabilize Newly Liberated Areas

The Government of the Republic of Korea and the United Nations Development Programme (UNDP) signed partnership agreement today for USD 5M million to support stabilization and recovery in newly liberated areas in Iraq. Korea’s contribution will be channelled through UNDP’s Funding Facility for Stabilization (FFS) which finances fast-track initiatives in areas retaken from ISIL. This […]

S Korea wins $500m Deal for Electricity in Iraq

By John Lee. South Korea's STX Marine Service has reportedly won a contract to restore and operate diesel-fueled electric power plants in Iraq. According to Yonhap, the company said the US$500-million deal will see it four 900-megawatt electricity generation units over five years. It calls for 100 South Korean engineers to be dispatched by STX, […]