South Korean biotechnology company Macrogen Inc. has signed a contract with LG International Corp. to export its Covid-19 test trailers.
The company announced on Wednesday that it will export two units of the tow cabs called “Smart Mobile Lab” to Indonesia via LG International. The two companies are also discussing further agreements to ship the products to other countries.
Smart Mobile Lab is a test trailer from Covid-1
Test trailers can be used to screen for infections by other viruses. The company is preparing to apply for a patent for the product’s unique design and differentiated features.
LG International, the trading group of the LG Group, has recently been selected as the 15th follower of SMEs by the Ministry of SMEs and start-ups. The company has helped small and medium-sized enterprises enter and expand their operations by using their global marketing opportunities and broad networks.
“We have been monitoring how countries around the world are dealing with Covid-19 since we entered the new molecular diagnostics business and found that it is not enough to just provide test packages,” says Macrogen’s CEO Lee Su-kang. “Through the Export Agreement, we will help strengthen the world’s Covid-19 response capacity by providing Korea’s superior prevention systems and broadening the reach of medical services.”
He also added that the company will continue to expand its partnership with LG International to improve its new business results and improve shareholder returns.
Shares of Macrogen rose 0.47 percent to 31,800 won ($ 27.31) on the Kosdaq market on Wednesday.
By Kim Si-kyun and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]