Yuhan Corporation Establishes Bio Research Center in Gunpo with 80 Billion KRW Investment

Handaehee, Mayor of Gunpo, and Jowookje, CEO of Yuhan Corporation (from left), signed a business agreement on the morning of the 17th at Gunpo City Hall, Gyeonggi Province, to promote the 'Yuhan Corporation Bio Research Institute and Attached CMC Center Construction Project' and are taking a commemorative photo. (Photo by Yuhan Corporation)

[Asia Economy Reporter Lee Chun-hee] Yuhan Corporation is establishing an advanced bio research infrastructure in the industrial area of Dangjeong-dong, Gunpo-si, Gyeonggi Province.

Yuhan Corporation and Gunpo City announced on the morning of the 17th that they signed a business agreement at Gunpo City Hall to promote the ‘Yuhan Corporation Bio Research Institute and Attached CMC (Chemical, Manufacturing & Control) Center Construction Project.’ The facility investment scale amounts to approximately 80 billion KRW.

Going forward, Yuhan Corporation will actively cooperate to revitalize the local economy through the successful promotion of the Bio Research Institute and CMC Center construction project, while Gunpo City will do its best to provide administrative support to ensure the smooth progress of the construction project.

Yuhan Corporation plans to begin construction of the Bio Research Institute and CMC Center in the second quarter of next year and start operations from the second quarter of 2025. Through this, it aims to activate research such as cell line development and bio process development, as well as strengthen capabilities in developing clean protein and antibody drugs. Additionally, it plans to attract affiliated company research facilities to develop into a hub for bio new drug research and development.

The area of Dangjeong-dong, Gunpo-si, Gyeonggi, where the 'Yuhan Corporation Bio Research Institute and Attached CMC Center' are scheduled to be established. (Photo by Yuhan Corporation)

The site selection this time is evaluated to have the advantage of not requiring separate land acquisition since Yuhan Corporation will utilize the former Yuhan Medica site it already owns in the Dangjeong-dong industrial area of Gunpo City, and it is also advantageous for securing excellent talent due to its proximity to Seoul. Gunpo City expects that Yuhan Corporation’s large-scale investment will greatly contribute not only to creating quality jobs but also to the city’s industrial and economic development.

In particular, since Gunpo City is promoting a pilot project to revitalize the aging industrial area of Dangjeong-dong into an advanced convergence R&D cluster, it is expected that synergy effects will be generated in conjunction with Yuhan Corporation’s investment.

Jo Wook-je, CEO of Yuhan Corporation, said, “Taking this project as an opportunity, we will grow together with the local community, strengthen R&D capabilities for bio new drugs, and accelerate the development of innovative new drugs for global market entry.”

Han Dae-hee, Mayor of Gunpo, also said, “Today’s agreement will be the starting point for Gunpo City to transform into an advanced R&D convergence complex centered on bio, and I hope it will serve as the foundation for revitalizing the Dangjeong-dong industrial area and play a hub role in Gunpo’s economic development.”

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