Samsung Biologics to invest 7.5 tln won to build new production facilities

SEOUL, Jan. 12 (Yonhap) -- Samsung Biologics Co., the biotech arm of South Korea's Samsung Group, said Thursday it will invest 7.5 trillion won (US$6 billion) to build a new biomedicine production complex west of Seoul.

Samsung Biologics CEO John Rim said in the J.P. Morgan Healthcare Conference in San Francisco that the new bio complex, named Bio Campus II, will be built in Songdo, west of Seoul, where the company is headquartered, housing massive production facilities and an open innovation center to foster biotech firms.

The investment scheme is part of the company's expansion plan to become the world's leading bio company, he said.

He said its Plant 4 at its Bio Campus I, which began partial operations last year, will be completed by the end of this year and help the company have a combined biomanufacturing capacity of 604,000 liters.

Samsung Biologics said it has already signed 11 large-scale manufacturing contracts with Plant 4 and is in talks with 26 customers to produce 34 more medical products.

The company also said it is planning to diversify its business portfolio with next-generation medication, including antibody drug conjugates and gene therapy.

As part of its global expansion strategy, Samsung Biologics, which opened a research and development center in San Francisco in 2020, will set up sales offices in U.S. hub regions like New Jersey as communication channels for global customers.

brk@yna.co.kr
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