Dong-A Pharmaceutical and Donghwa Industries have agreed to form “Muhan Dongwha Pharmaceutical
Limited Partnership” to distribute Dong-A’s products in the Chinese market. The contract was signed on the
27th at Muhan City, China, with Dong-A Vice Chairman Yoo, Choong-Shik and Hongdo K Group’s Yoo, Jo-
Seung in attendance.




The joint venture is a 50-50 partnership between Dong-A Pharmaceutical and Donghwa Industries, with both
companies investing USD 125 thousand each. After Dong-A’s products are approved in 2004, the company
plans to sell its products to the Chinese market in earnest starting in 2005, and by 2008, through the sale of
biotech drugs and new products, Dong-A is expected to become a major drug company in China.




Donghwa Industries is an affiliate of Hongdo K Group, one of China’s top ten drug companies, which
produces China’s top-selling anemia drug and has a sales network of 90% (200 thousand) of China’s
pharmacies.