Lotte Biologics () is a South Korean

biotechnology Biotechnology is a multidisciplinary field that involves the integration of natural sciences and Engineering Science, engineering sciences in order to achieve the application of organisms and parts thereof for products and services. Specialists ...

company headquartered in

Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

History

In May 2022,

Lotte Group Lotte Group is a corporate group started by Zainichi Korean businessman Shin Kyuk-ho in South Korea on June 15, 1948, starting with the South Korea, South Korean Lotte Co., composed of Lotte Holdings, Lotte Holdings (Japan) and Lotte Corporati ...

entered the bio industry in earnest by acquiring

Bristol Myers Squibb The Bristol-Myers Squibb Company, Trade name, doing business as Bristol Myers Squibb (BMS), is an American multinational pharmaceutical company. Headquartered in Princeton, New Jersey, BMS is one of the world's largest pharmaceutical companies ...

's biopharmaceutical plant with a production capacity of 40,000L. In June, Lotte Biologics was established as a subsidiary of

Lotte Corporation Lotte Corporation is a South Korean Multinational corporation, multinational Conglomerate (company), conglomerate corporation, and the fifth-largest chaebol in South Korea. Lotte was founded on 28 June 1948 by Korean businessman Shin Kyuk- ...

. In July 2023, construction began on the first biopharmaceutical plant in

Songdo Songdo (), officially known as Songdo International Business District (Songdo IBD), is a smart city built on of reclaimed land along Incheon's waterfront, southwest of Seoul, South Korea. It is connected to Incheon International Airport by a r ...

, Incheon, with the goal of completion in 2025 and operation in 2027. It is a project to build three factories with a production capacity of 120,000 L each by investing approximately 4.6 trillion won by 2030.

References

External links

* {{Biotechnology industry in South Korea Biotechnology companies of South Korea Companies based in Seoul South Korean companies established in 2022 Companies established in 2022 Pages with unreviewed translations Contract development and manufacturing organizations