
Samsung Biologics to kick off $1.5B+ plant construction in South Korea
The CDMO giant Samsung Biologics will be starting the construction of its manufacturing plant at the Songdo site in South Korea.
Samsung announced today that it will invest over $1.5 billion in the new facility. The CDMO plans to break ground on the plant sometime in the first half of 2023, with it fully operational by 2025.
The new plant, dubbed Plant 5, will also be the first piece to Samsung Biologic’s new Bio Campus, known as Bio Campus II. The facility will be 96,000 square meters or around 1,033,335 square feet and will be able to have a capacity of 180,000 liters of product. Once Plant 5 is complete, this will bring the CDMO’s manufacturing capacity to a total of 784,000 liters of product.
John Rim, the president and CEO of Samsung Biologics said in a release:
Given the continuing increase in the demand for outsourced manufacturing of biopharmaceuticals, we are proactively making this investment in alignment with our growth strategy to further strengthen our standing as a leading CDMO. The new facility will enable us to provide our customers with even greater innovation and services that will increase speed to market and flexibility.
Samsung’s new campus is adjacent to its current facilities and plants in the Songdo Industrial cluster, with the company purchasing 360,000 square meters last summer. It will also be investing about $5.7 billion into the new campus as well.
The company’s fourth plant started operations in October of last year — with a plan to start full operations by the middle of this year.
In Samsung Biologics’ yearly results, it announced it will be building out a stronger presence in the US by opening several offices on both coasts. One of those offices will open next week in New Jersey.