Mayor Park Namchun Visits Samsung Bio... Meeting on Songdo Plant 4 Expansion Plan

1.74 Trillion Investment, Production Increased by 256,000ℓ... World's Largest Single Factory
Discussion on Attracting Bio Process Workforce Training Center and Supporting Localization of Raw Materials

Incheon Mayor Park Nam-chun visited Samsung Biologics in Songdo on the 18th to discuss cooperation plans related to the expansion of the 4th plant with CEO Kim Tae-han.
[Photo by Incheon City]

[Asia Economy Reporter Park Hyesook] As Samsung Biologics announced plans to establish a 4th plant in Songdo, Incheon Mayor Park Namchun visited Samsung Bio's headquarters in Songdo International City, Yeonsu-gu on the 18th to meet with President Kim Tae-han and others to hear about the plans for the 4th plant expansion and related difficulties.

The mayor said, "We welcome Samsung Biologics' large-scale investment plan," and emphasized, "For Songdo to leap forward as the world's largest bio cluster, large companies like Samsung Biologics, which serve as a pillar in the region, must lead vendor companies and startup firms from the front."

He continued, "To this end, we will cooperate to the fullest extent so that the research and development (R&D) center and open innovation center that Samsung Biologics is planning can open as soon as possible," promising support.

Additionally, he requested Samsung Biologics' cooperation, saying, "We will do our best to attract the bio-process workforce training center, which the Ministry of Trade, Industry and Energy and the Ministry of Health and Welfare have announced, to Incheon."

Mayor Park also stated, "Samsung Biologics needs to expand its role as a consumer of bio raw materials while simultaneously establishing win-win cooperation plans with raw material manufacturing companies," adding, "Systematic support such as technical assistance and consulting for the localization of raw materials must be provided, and Incheon City will spare no effort to support this administratively."

Based on the contents of the meeting, Incheon City plans to sign a business agreement with Samsung Biologics in October.

Samsung Biologics announced on the 11th that it will invest 1.74 trillion KRW to establish the world's largest single plant, the 4th plant, in Songdo. The expected economic ripple effect is estimated at about 5.6 trillion KRW in production inducement and the creation of 27,000 jobs.

Once the 4th plant is completed, Samsung Biologics will secure a total of four plants with a production capacity of 620,000 liters. This is the largest scale among contract manufacturing organizations (CMO) for biopharmaceuticals worldwide.

Samsung Biologics has secured the world's number one production capacity in the contract manufacturing field within eight years of establishing in Songdo, holding a leading position in the bio-industry sector, and is expanding its business areas to contract development (CDO) and contract research (CRO).

This content was produced with the assistance of AI translation services.