Construction of a new vaccine R&D facility to start next year
On December 27, the Incheon Free Economic Zone Authority agreed to sell a sizable plot in Songdo International City to SK Bioscience. SK Bioscience is expected to build a new research center at its newly acquired property in Songdo.
Building up to this agreement, the IFEZ Authority and SK Bioscience engaged in a lengthy negotiation process when the latter won its bid to build an industrial and research complex in Songdo back in June.
▲ SK Bioscience plans to build a vaccine research and development facility on the Sr14 lot (178-3, Songdo-dong, total area of 30,413.8㎡) in the Technopark Expansion Complex in block 7 of Songdo International City. Construction for the company’s headquarters and research center is scheduled to begin next year. Photo of the IFEZ Authority signing an investment contract with SK Bioscience on December 27.
SK Bioscience plans to build a vaccine research and development facility on the Sr14 lot (178-3, Songdo-dong, total area of 30,413.8㎡) in the Technopark Expansion Complex in block 7 of Songdo International City. Construction for the company’s headquarters and research center is scheduled to begin next year.
SK Bioscience is widely regarded as a game-changer that introduced a whole new paradigm in the Korean and overseas vaccine market that uses its own R&D technology and world-class production capabilities. Recently, by executing a two-track strategy of in-house development and consignment production of COVID-19 vaccines, SK Bioscience played a decisive role in making Korea a global hub for COVID-19 vaccine production.
SK Bioscience plans to take advantage of the locational advantages of Songdo International City, i.e. its accessibility to Incheon International Airport, its bio cluster complex, and advanced business life infrastructure, to strengthen its vaccine business and expand into new business areas by building a new global R&PD (research and process development) center in Songdo.
With its new global R&PD center, SK bioscience plans to actively expand its bio CDMO (consignment development and production) business on the global stage, secure new business platforms, and strengthen its cooperation with international organizations, domestic and foreign bio companies, as well as research institutes.
Meanwhile, by attracting SK Bioscience as an investor, the Incheon Songdo Bio Cluster, which already includes Samsung Biologics and Celltrion, will soon be home to the top-3 bio companies in Korea.
The combination of Samsung Biologics and Celltrion, which develop/produce antibody drugs, SK Bioscience, a company that specializes in vaccine development, and the research infrastructure (e.g. Bioprocess Human Resources Training Center and the IFEZ Bioanalysis Support Center) available in Songdo is expected to give IFEZ a leap forward not only as one of the largest bio-medicine production cluster, but also a leader in the global bio industry.
The signing ceremony was attended by Incheon Mayor Park Nam-chun, IFEZ Authority Commissioner Lee Won-jae, SK Group Vice Chairperson Choi Chang-won, and SK Bioscience CEO Ahn Jae-yong.
