GELAPA Establishes Local Joint Venture with UAE's Yas Pharmaceuticals

Cooperation on Overseas Projects and Sputnik Vaccine Business in the Middle East, Africa, and CIS Regions

'Yas Rapa' logo (Photo by Jilrapa)

[Asia Economy Reporter Kim Ji-hee] GL Alpha, the parent company of Korea Chorus, announced on the 15th that it has established a local joint venture called 'YAS RAPHA' with Yas Pharmaceuticals in the United Arab Emirates. Through this joint venture, the two companies plan to jointly carry out overseas project businesses and Sputnik vaccine operations in the Middle East, including the UAE, Africa, and the Commonwealth of Independent States (CIS).

GL Alpha has maintained a partnership for several years by conducting various businesses with DAS Holding, the parent company of Yas Pharmaceuticals located in the UAE. DAS Holding operates businesses in the UAE region based on substantial oil capital, including hotels, retail, real estate, public transportation, and healthcare. It is well known as a company owned by Sheikh Mansour, the Vice President of the UAE and owner of Manchester City FC football club.

This joint venture was established with a 50-50 ratio between GL Alpha and Yas Pharmaceuticals. The newly established company will oversee and further develop the existing UAE project business and cooperative ventures. Additionally, it will serve as an indirect partner for overseas projects in the Middle East, Africa, and CIS regions, managing vaccine business in those areas.

A GL Alpha representative stated, "While continuously engaging with leading overseas companies and conducting various international businesses, the establishment of this joint venture with Yas Pharmaceuticals allows us to take our overseas project business to the next level," adding, "We will contribute to enhancing the status of Korea's pharmaceutical and bio industry by promoting its excellence."

This content was produced with the assistance of AI translation services.