South Korea

Vancouver-based CIBT Education Group Inc. announced that it signed an agreement with National Cambridge College to install a CIBT Education Centre in Seoul, South Korea. National Cambridge College will assist in CIBT’s expansion by introducing and teaching CIBT’s International Foundations Program to students in South Korea. Students will initiate their studies in South Korea and upon completion of the program will have the opportunity to continue their studies abroad at a CIBT partner university overseas. CIBT Education Group Inc.

Toronto-based Nortel Networks announced that its principal operating subsidiary, Nortel Networks Limited, has decided to seek a buyer for its majority stake (50% + 1 share) in LG-Nortel, the company’s South Korean joint venture with LG Electronics. LG-Nortel provides telecommunications equipment and network solutions, spanning wired and wireless technologies to service provider and enterprise customers in Korea and around the world.

Winnipeg-based Intelligent Hospital Systems (IH Systems), a medical device company focused on the design and development of automated solutions for the hospital environment, has entered into an agreement with pharmacy application specialists, Daeiltech, based in Seoul, South Korea. Daeiltech will provide direct sales and service support for IH Systems’ RIVA System (Robotic IV Automation) across South Korea. RIVA is a self-contained unit for filling IV syringes and bags.

Stockwell Day, Minister of International Trade, and Gerry Ritz, Minister of Agriculture and Agri-Food, issued the following statement on measures being taken by Canada to safeguard the health of Canadians and the Canadian pork industry: ‘Some countries have imposed a ban on North American pork and swine products, without scientifically justifiable evidence to support their actions.

Vancouver-based Nanika Resources Inc. announced that it signed a joint venture agreement with Palm Clean Energy Inc. and Daewon Chemical Co. Ltd. of South Korea. The new joint venture company formed by these partners will hold the continued exploration, development and mining rights to the ‘Lucky Ship’ molybdenum project located at the Nanika Ridge site approximately 85 km southwest of Houston, BC. The South Korean partners will be issued 40% of the new joint venture company shares and Nanika will hold 60%.

Asiana Cargo, a division of South Korea-based Asiana Airlines, has started a weekly cargo service from Halifax International Airport to Brussels, Belgium and Seoul, South Korea. The airport estimates that the weekly flight could represent an export value of more than $500,000 to the provincial economy. The airline will use a Boeing 747-400F aircraft.

Burlington-based Gennum Corporation and Ottawa-based Tundra Semiconductor Corporation announced they have entered into a definitive agreement providing for the acquisition by Gennum of all of the issued and outstanding shares of Tundra. Gennum Corp. designs semiconductor solutions and intellectual property cores for consumer connectivity, video broadcast and data communications products. Tundra is a supplier of system interconnect products and intellectual property to communications, computing and storage companies. The transaction is valued at approximately C$86 million.

Vancouver-based Compliance Energy Corporation announced that it has executed through its wholly-owned subsidiary, Compliance Coal Corporation, agreements for joint venture, management and operations services and marketing services with I-Comox Coal Inc. and LG International Investments (Canada) Ltd. to form the Comox Joint Venture (CJV). I-Comox and LG are the respective wholly-owned subsidiaries of Itochu Corporation of Japan and LG International Corp. of South Korea. Compliance will own 60% of the CJV while Itochu and LG will each own 20%.

AAER Inc., a Quebec-based manufacturer of high capacity 1 Megawatt or more wind turbines, announced that Hyundai Heavy Industries Co. of South Korea has signed an agreement for the purchase of a 1.65-megawatt wind turbine. The A-1650 turbine will be shipped as separate components and is scheduled for delivery in South Korea during the second quarter of 2009.

The Canadian Crafts Federation, provincial craft councils and partner organizations have organized a 14-day cultural tour of South Korea - September 18-October 1, 2009 - with a focus on fine craft and cultural traditions. At the Cheongju International Craft Biennale, Canada is the featured guest country for 2009 showcasing contemporary Canadian fine craft. The Biennale will be displaying the work of over 1000 artists from more than 40 countries.