Merck breaks ground for bioprocessing production center in Daejeon

Merck Life Science (Merck) commenced the construction of its bioprocessing production center in Dungok-dong, Yuseong District, Daejeon, according to the government of Daejeon Metropolitan City, Wednesday.

The groundbreaking ceremony was attended by Daejeon Mayor Lee Jang-woo, Merck executive board member and Life Science Business CEO Matthias Heinzel, Jung In-kyo, head of the Trade Negotiation Office of the Ministry of Trade, Industry and Energy, and Georg Wilfried Schmidt, German Ambassador to South Korea, along with other key Merck representatives and stakeholders, it said.

The Asia-Pacific bioprocessing production center will produce raw materials for bioprocessing and is set to be built on approximately 43,000 square meters in the International Science Business Belt of Yuseong District.

Scheduled for completion by the end of 2026, the facility will support biopharmaceutical process development, clinical stages, and manufacturing for pharmaceutical and biotech companies across the Asia-Pacific region.

The German company is investing a total of 430 billion won (300 million euros) in this center, marking the company’s largest investment in the Asia-Pacific region to date. This project is expected to create around 300 new jobs by the end of 2028.

Mayor Lee said, “The collaboration between Daejeon and Merck marks the beginning of a world-class bio complex that will surpass Boston. Daejeon will evolve into a hub driving the growth of the domestic pharmaceutical and bio industries alongside the establishment of Merck’s bioprocessing production center.”

 

>>> Join Korean stock investment today, access new markets and seek opportunities for big profits with Bucket-VN experts:

  • Sign up for free consultation and catch signals of the Korean stock market at: https://bucketvn.com/en/register/
  • Hotline: 028 3636 6553
  • Group Facebook discussion: https://www.facebook.com/groups/bucketvn

Leave a Reply

Your email address will not be published. Required fields are marked *