Celltrion Announces “Vision 2030”
to Invest KRW 25 trillion for Biopharmaceutical
Business in Songdo International City, Incheon

Celltrion, Inc., a pharmaceutical conglomerate in the IFEZ that leads the growth of Korea’s bio industry, plans to invest KRW 40 trillion in bio and chemosynthesis pharmaceutical industries by 2030. The company aims to take the initiative in the global bio and healthcare industry with the investment. Celltrion held a press conference at Incheon City Hall on May 16 and announced its mid- and long-term business plan “Vision 2030,” which includes this investment plan. Specifically, the company will invest KRW 25 trillion in the bio pharmaceutical industry in the IFEZ, Songdo International City, KRW 5 trillion in the chemosynthesis pharmaceutical industry in Ochang, Chungcheongbuk-do, and KRW 10 trillion in the U-Healthcare platform business. The IFEZ is at the center of this grand plan. Celltrion will invest KRW 16 trillion in developing more than 20 second-generation biosimilars (biogenerics), including immunizing anti-cancer drugs, via a bio pharmaceutical business centered around Songdo International City, and secure more than 10 new drugs with the new treatment mechanism.

At the same time, a facility with the capacity to manufacture one million liters of bio pharmaceutical ingredients and a manufacturing environment of finished pharmaceutical products with the capacity of 100 million vials will be built in order to guarantee the world’s largest manufacturing capacity. To this end, KRW 5 trillion will be invested.
Another KRW 4 trillion will be invested to extend the global distribution network and support startup businesses. In particular, the direct sales system is planned to be stretched to Europe by the end of this year, to Asia, South America, and other regions by 2020, and to the U.S. and Canada, the biggest pharmaceutical market bloc, by 2021.

Press Conference on Celltrion’s “Vision 2030”
Incheon Metropolitan City Major NamChoon Park and Celltrion Chairman Jung Jin Seo are speaking in the press conference on “Vision 2030” on May 16, Incheon Metropolitan City Hall.

Celltrion is ready to actively draw investments and create employment by locating the production facilities for expendable materials, which are manufactured overseas at present, in Songdo. This will develop Celltrion into the leading company in implementing Bio Valley, Songdo. In addition, the group will do its best to produce major materials domestically and share knowledge on advanced medicine manufacturing and current Good Manufacturing Practices (cGMP) to create harmonious growth with business partners. Celltrion Chairman Jung Jin Seo said, “As a leading company in pharmaceuticals and the bio industry in Korea, Celltrion will enhance national competitiveness in the healthcare industry and propose a vision for the future.” He added, “Vision 2030 will help realize the corporate spirit and philosophy of improving people’s access to medical services and making patients’ lives more fruitful.”

Incheon Metropolitan City in Full Force to Attract Investments in Incheon Bio Health Valley

The Incheon Metropolitan City will kick off its effort for drawing SMEs to Zone 11 of Songdo International City. Mayor NamChoon Park is meeting challenges from industrial changes in order to take the initiative in the advancement of the bio industry, along with Celltrion’s announcement on Vision 2030. Mayor Park said, “The Korean government regards the bio·health industry as one of the top three core industries for the future of Korea and is strategically nurturing and supporting the industry.” He added, “The government interprets this industry as a core industry of the Fourth Industrial Revolution, and international institutions such as the OECD consider it a major industry that will solve humanity’s issues in the future.”

The Incheon Metropolitan City plans to establish Bio Convergence Technology Laboratory, an ecosystem where SMEs, joint ventures, and startups as well as big enterprises harmoniously co-exist. It will be built in the northern area of Zone 11, Songdo International City. To this end, the Incheon city government plans to establish the Incheon Bio Health Valley that links the bio and medical companies in Songdo International City to the manufacturing and producing companies in Namdong Industrial Complex in the vicinity. The IFEZ and Incheon Technopark signed the “Agreement on Supplying the Site for the Bio Convergence Technology Laboratory” to establish the Bio Convergence Technology Laboratory and bioprocess specialized center in a 227,800 ㎡ site in Zone 11 of Songdo International City.
The ultimate goal of the project is to create 6,000 jobs across 250 companies, including 90 SMEs and 160 venture and startup companies in bio, beauty, and medical devices, in this Bio Convergence Technology Laboratory with the KRW 1.1 trillion fund.