Shin & Kim advised Chong Kun Dang on its pharmaceutical joint venture in Indonesia.

On April 9, 2015, Chong Kun Dang Pharmaceutical Corp., one of the largest pharmaceutical companies, executed a joint venture agreement with OTTO Pharmaceutical Industries, an Indonesian pharmaceutical company that is part of the Mensa Group.  Chong Kun Dang is planning to establish a local anti-cancer medicine production plant in Indonesia and to use the joint venture company as a means to advance into a market composed of 10 ASEAN countries, including Indonesia.  As the Korean pharmaceutical company is expanding its product portfolio to include bio-medicinal products, the new joint venture will serve as a production base for Chong Kun Dang in its march towards other parts of Asia, the Middle East, and Northern Africa.  Shin & Kim, through cooperation with and assistance from a local Indonesian law firm, not only represented Chong Kun Dang in the establishment of the joint venture but also in overall matters relating to the joint venture, including in medical product licensing transactions, other ancillary transactions as well as in navigating and resolving legal issues applicable to a Korean pharmaceutical company in establishing presence in an overseas market.