Lotte Biologics Commences Major Plant Project At Sondo Bio Campus

On July 3rd, Lotte Biologics, led by CEO Richard W. Lee, celebrated the groundbreaking of its first plant at the Songdo Bio Campus in Incheon International City. The ceremony was attended by around 300 guests, including LOTTE Group Chairman Dong-Bin Shin, Incheon Mayor Jeong-Bok Yoo, National Assembly Member Il-Young Jung of Incheon Yeonsu District, First Vice Minister of Trade, Industry and Energy Kyung-Sung Kang, Second Vice Minister of Health and Welfare Min-Soo Park, and Incheon Free Economic Zone Commissioner Won-Seok Yoon. Prime Minister Duck-Soo Han also sent his congratulations through a video message.

The Songdo Bio Campus is a significant investment, totaling approximately 4.6 trillion won. The campus, covering 202,285.2 square meters, will feature three production plants and essential auxiliary buildings. LOTTE Engineering & Construction will oversee the design, procurement, and construction of the first plant, highlighting the group's comprehensive approach to this ambitious project. Each plant is designed to have a production capacity of 120,000 liters, with a combined capacity of 360,000 liters for the entire campus. This large-scale project is projected to have an economic impact of 7.6 trillion won and create 37,000 jobs, demonstrating Lotte Biologics' dedication to industrial progress and economic development.

LOTTE Chairman Dong-Bin Shin said, "The journey of Lotte Biologics, commencing here in Songdo, is poised not only to become a future growth engine for LOTTE Group but also to reshape Korea's biotech industry landscape. Our unwavering commitment is to contribute significantly to the successful establishment of Songdo's bio cluster, thereby propelling Korea to the forefront of the global biotech arena."

Lotte Biologics CEO Richard W. Lee also commented, "I would like to express my heartfelt gratitude to the government agencies and institutional representatives who have provided invaluable support in bringing us to this momentous occasion.Lotte Biologics is committed to evolving into a global TOP 10 bio-CDMO by 2030. Through this growth, we aspire to serve as a driving force to propel Korea to the forefront of the global bioeconomy, establishing our nation as a leading force in this critical sector."