The latest Korea – Iraq Business News – housing, construction, company Kogas, & more – brought to you by Iraq Business News
By John Lee. Korea Aerospace Industries (KAI) has signed a significant export contract to supply military helicopters to Iraq. The company describes the Korean Utility Helicopter (KUH-1), also known as Surion, is a multi-role utility helicopter, "complete with excellent maneuverability and a world-class hovering capability features cutting-edge avionics system." It continues: "They have been deployed […]
By John Lee. The Iraqi Cabinet has blocked a proposal to provide a sovereign guarantee for a rail project. A statement issued on Thursday evening through the Media Office of the Prime Minister stated: "Based on the investigation results issued by the investigative team of the Commission of Integrity regarding the partnership contract concluded between […]
By John Lee. The Chairman of the National Investment Commission (NIC), Dr. Haider Mohammed Makiyya, has announced the signing of a pivotal addendum to the contract for the Bismaya Residential City project. The agreement focuses on: Implementing Infrastructure and Social Services: Ensuring essential facilities and public services in the city. Completing 70,560 Housing Units: Resuming […]
By John Lee. Prime Minister Mohammed S. Al-Sudani has officially opened the Iraqi-Korean Critical Care Specialty Hospital at Baghdad Medical City. The newly inaugurated hospital, described as the first of its kind in Iraq, consists of four floors with a capacity of 74 beds, three operating theaters equipped with the latest medical devices, and an […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq buys air defenses amid specter of regional missile war Amid the prospect of a major escalation of regional missile warfare, Iraq has inked a major deal with South Korea on a state […]
By John Lee. The Iraqi Council of Ministers has approved the conversion of the Kirkuk hydrogenation and gasoline improvement project, with a capacity of 12,000 barrels per day, from a Build-Own-Operate (BOO) model to a Build-Operate-Transfer (BOOT) model. The refining fee for one barrel of oil has been set at $23, as previously determined by […]
By John Lee. The Iraqi Ministry of Defense has signed a contract with a South Korean company to supply advanced medium-range air defense batteries. It said the new defense system will bolster Iraq's military capabilities, ensuring better protection of its airspace and contributing to regional stability. While the lengthy statement from the Ministry gave no […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting this week to follow up on the progress of Al-Faw Grand Port, attended by representatives from Daewoo, the Korean company, and the Italian consultancy firm, Technital. The Prime Minister's Office said he reviewed the details of the ongoing work on the key projects within […]
By John Lee. Dr. Abbas Jaber Al-Maliki, the Minister of Agriculture, has chaired a meeting with a delegation from the South Korean company KRE, led by Mr. Kweonk Suk Jan, to discuss smart farming techniques for tomatoes and rice, as well as advanced storage systems. The meeting was attended by Dr. Hussein Al-Wasiti, the Advisor […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani presided over the signing of a memorandum of understanding between the National Investment Commission (NIC) and South Korea's Hanwha to resume work on Bismayah City residential development. The visit on Monday morning included a meeting with residents, where their feedback on provided services was heard, prompting directives […]
By John Lee. Iraq's state-run Iraqi News Agency (INA) has quoted the Undersecretary of Extraction at the Ministry of Oil, Bassem Muhammad Khudair, as saying that the contract to develop the Akkas gas field will be granted in the coming days to a Ukrainian company. He did not name the company. Meanwhile, a official statement […]
By John Lee. Samsung Electronics Middle East has signed a memorandum of understanding (MoU) with Iraq's Qi Card. According to a press release from Samsung, the partnership "aims to provide advanced technological products and solutions to traders, citizens, and agents of both companies with attractive commercial offers throughout Iraq." It adds: "The two companies will […]
