June 2002: Foundation of PyongSu.Jun 9, 2004: Inauguration. Following successful test runs , the manufacturing facility is fully operational.Sep 2004: Successful production of the PyongSu Spirin.Apr 2006: PyongSu establishes its first pharmacy, offering Pyongsu products as well as medicines imported from suppliers worldwide.Mar 2007: WHO visits Pyongsu in preparation of International GMP certification.Apr 2007: PyongSu is Korean GMP certified by the Quality Certification Centre of the DPRK.Feb 2010: PyongSu counts 5 pharmacies.Dec 2010: PyongSu purchases a fully automatic capsule filling machine to enlarge the products portfolio.Jan 2011: PyongSu wins a bid to produce essential drugs for the Ministry of Public Health.Feb 2011: PyongSu wins a bid for 4 orders with the International Federation of the Red Cross resulting in a framework agreement valid until March 2012. Four new products are added to the existing kit.May 2011: Independent Singapore laboratory TÜV SÜD PSB Pte Ltd contracted by the IFRC head quarters in Geneva certifies that all essential drugs produced by PyongSu for the Red Cross are in accordance with the relevant pharmacopoeia and up to international standards.Aug 2011: PyongSu counts 8 pharmacies.Sep 2011: PyongSu receives its International GMP certification by French certifying agent Certipharm.Jan 2012: PyongSu acquires a film coating machine.Feb 2012: The IFRC extends its framework agreement with Pyongsu until January 2013.Mar 2012: PyongSu branches out to manufacturing 3 products in cooperation with Kim Il Sung University.Feb 2013: PyongSu renews its Framework Agreement with the IFRC.Jun 2013: PyongSu manufactures 7 Koryo medicines products.Nov 2013: First pharmacy outside of Pyongyang is secured – Pyongsong city.Mar 2014: New Framework Agreement signed with the IFRC.Apr 2014: First Export of PyongSu products (to Malawi) for NGO Good Neighbors InternationalJun 2014: PyongSu celebrates its10th anniversary, construction of the new wing beginsSep 2014: Certipharm audits PyongSu and renews cGMP certificationOct 2014: Completion of new wingMar 2015: PyongSu obtains licenses to open pharmacies in Wonsan, Hamhung & NampoOct 2016: PyongSu opens its biggest store in Tongil District, boasting 2 floors and 320 SQMFeb 2017: Alongside pharmacists, physicians are now offering onsite free consult to patientsSep 2017: PyongSu begins its work towards obtaining an exemption to UN Resolution 2375, paragraph 18, that stipulates that all Joint Ventures must close down within 120 days.Jan 2018: In order for PyongSu to move forward with its operations in the DPRK, PPF temporarily agrees to hold onto NDCP’s shares until an exemption to Resolution 2375 in obtained or sanctions lifted. PyongSu continues to work towards obtaining an exemption.
A PARTNER OF CHOICE
PyongSu offers a wide range of services to multinationals, from warehousing, distribution, contract manufacturing, marketing and advertising strategies, donation handling and management to strategic consulting for investors looking to penetrate the North Korean market.
A TRUSTED BUYER
Over 10 years of operation, PyongSu never once failed to honour its financial commitments to suppliers, positioning itself at the rank of most trusted buyer in North Korea. Carefully planned cash-flow management, open communication channels and well structured distribution agreements are amongst the many strengths of our business.
Beyond its complete Pyongyang coverage, PyongSu is rapidly advancing towards building a strong nationwide network, setting up partnership with local institutions and townships. Allowing the global population access to affordable and high quality medicines is our utmost priority.