WSI Acquires Office Building in Songpa-gu... "Securing a Growth Hub"

[Asia Economy Reporter Hyungsoo Park] Pharmaceutical and medical device distribution company WSI has established a headquarters building in Samjeon-dong, Songpa-gu, Seoul, and has begun full-scale business expansion.

WSI announced on the 4th that it will purchase land and a building in Samjeon-dong, Songpa-gu, Seoul, for 28.5 billion KRW to relocate its headquarters. The building, with 8 floors above ground and 1 basement floor, has a total area of 2,722.83㎡. The headquarters was secured to support mid- to long-term growth, improve management efficiency, and enhance profitability through the acquisition of some leased assets. The balance payment will be made on May 22 of next year and ownership will be transferred.

WSI is expanding its pharmaceutical and medical device distribution business centered on ‘Flocil,’ the domestic market leader in topical hemostatic agents. Based on Flocil’s stable market dominance, it is also entering new businesses. Last year, it started a surgical robot business with its subsidiary EasyMedibot. In the first half of this year, it is preparing for approval of a disposable, simple medical device to prevent surgical site infections.

A WSI official said, "We judged that the limited space of the existing business site was a constraint at a time when the business area is expanding in earnest," and added, "We expect improved work efficiency and strengthened research and development capabilities through improved working environments and secured collaboration spaces."

He continued, "We plan to generate additional income by leasing out spaces other than the 4th to 8th floors of the purchased building," and added, "We will establish a spinal endoscopy education center in connection with the German spinal endoscopy company Riuspine." WSI will also prepare a surgical robot academy space for medical staff in cooperation with its subsidiary EasyMedibot.

WSI issued convertible bonds (CB) worth 18.3 billion KRW in July last year to raise facility funds. Both the nominal interest rate and maturity interest rate are 0%. This is to purchase the headquarters building due to business expansion, expand the factory, and build an automated production line for new medical products.

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