25 November 2021 | News
Sartorius has been operating a sales and service office in South Korea for more than 30 years
image credit- prnewswire
The life science company Sartorius is investing around 270 million euros, some $300 million, through the end of 2024 in expanding its activities in South Korea.
In the country's biopharma hub Songdo in Incheon, the company plans to launch cell culture media production and to assemble sterile systems for efficient and flexible manufacturing of biopharmaceuticals, among other operations.
This investment responds to the dynamic development of the South Korean market as well as of further Asian markets.
"The development of the biopharmaceutical industry in Asia and, in particular, South Korea, has entered a new phase characterized by a high innovation and investment pace on the part of our customers. With our significant investments in Songdo, we will be increasing capacities, moving production operations closer to our customers in the region and substantially accelerating our delivery speed," said Sartorius Executive Board Chairman and CEO Joachim Kreuzburg.
Construction of the company's facilities on the property site covering some 25,000 square meters, or close to 270,000 square feet, will include an application center with laboratories as well as several buildings for manufacturing and logistics.
In total, jobs for approximately 750 people will be created there. Sartorius' existing activities for service as well as marketing and sales will relocate to the new site under development, which offers space for further extensions. Construction work at the site is slated to begin in the coming year, and production operations are scheduled to start by the end of 2024.
Image caption- South Korean Minister of Trade, Industry and Energy Moon Sung-wook (from left) and Sartorius Executive Board Chairman Joachim Kreuzburg