SK Bioscience to invest 150 billion won in vaccine factory expansion

SK Bioscience has begun work to become a hub for global vaccine production.

SK Bioscience announced on the 21st that it has signed MOU with Gyeongbuk Province and Andong City to invest in expanding factories and sites at L House, a vaccine factory located in Andong, North Gyeongsang Province.

It was promoted to expand high-tech facilities for vaccines responding to increased demands for vaccines and to secure additional sites for factories.

According to MOU, SK Bioscience will invest about 150 billion won by 2024, and expand production facilities of L House which has the latest vaccine production facilities such as cell culture, bacterial culture, genetic recombination, and protein binding, and establish new platform facilities for mRNA and next-generation viral vectors.

In addition, it will expand the factory site to 161,000m^2by purchasing additional 99,130m^2 land in the Gyeongbuk Bio's 2nd General Industrial Complex, which is being constructed in Maegok-ri, Pungsan-eup, Andong, near the L House site.

Gyeongbuk Province and Andong City will actively support SK Bioscience's investment to be successful.

SK Bioscience is planning to expand its business to solidify its leading position in the Korean domestic market with increased vaccine production and become the hub of global vaccine manufacturing. (ANI/Global Economic)

( With inputs from ANI )

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