Acquiring the land for KRW 462bn ($353m), Samsung Biologics gains a 357,366 square meter site that is 30% larger than the company’s current campus.
Bio Campus II will support Samsung Biologics’ expansion of large-scale manufacturing capacity as well as host a multi-modal plant and an open innovation facility.
Milestone in ambition to build a world-class global bio-hub in Songdo
Located within Songdo Industrial Cluster, the land was awarded to Samsung Biologics in line with the IFEZ’s strategy to strengthen the region’s global competitiveness in the biopharma sector.
As a result of this deal, 4,000 additional jobs are expected to be generated by 2032 when the project is complete.
In 2021, Samsung Biologics recorded 35% revenue growth, reaching KRW 1,568bn ($1.31bn): crediting improved utilization of Plant 3 and increased sales in Plant 2. The company has set out its three-part plan for continued growth: which covers increasing manufacturing capacity, enhancing portfolio diversification, and expanding facilities overseas. In January, it confirmed it was planning to secure additional land within Songdo for manufacturing expansion.
“This milestone further solidifies our roadmap to build a world-class global bio-hub at the heart of Songdo,” said John Rim, CEO and President of Samsung Biologics. “Through continuous investment, we will maintain our position as the best-in-class CDMO partner, fully equipped with the world's largest manufacturing capacity and provide diverse service offerings to our clients to address new emerging diseases and save lives of patients worldwide.”
Samsung Biologics’ Plant 4 is under construction to begin partial operations by October this year, and the company is securing pre-sales with clients. Upon the full completion of Plant 4 in 2023, the company is expected to hold the world’s largest biomanufacturing capacity.
Construction of Plant 5 – which will offer multi-modal product services for cell and gene therapies and next-generation vaccines using mRNA, pDNA and viral vectors – is expected to start this year.
A future Plant 6 is envisioned for the second Bio Campus.