Samsung Biologics submitted a proposal for the supply bid for the advanced industry cluster in District 11 of Songdo International City, Incheon Free Economic Zone Authority.
According to the Incheon Free Economic Zone Authority on the 10th, Samsung Biologics participated alone in the supply bid for the 'advanced industry cluster industrial site (Ki17, Ki18, 1-첨C9 block)' held that day.
The site has an area of 187,827 square meters and a supply price of 249.2 billion won, making it a large undeveloped industrial land within Songdo.
This company's participation in the land bid is the fourth so far. The Incheon Economic Authority attached conditions stating, 'The construction of manufacturing and research facilities of the business plan must commence within one year from the date of signing the land sales contract and must be completed within four years.'
However, Samsung Biologics did not qualify as a valid applicant due to a longer business implementation period, with the completion target for the second campus factories 5 to 8 set in 2032.
In the subsequent third bid conducted by the Incheon Economic Authority, the factory construction period was extended to a total of nine years with a first stage (within five years) and a second stage (within four years), but it was subject to the condition that 'it will be voided if it fails to receive a bid alone.'
This bid was converted to a negotiated contract, unlike previous solicitations. With no additional competitors entering the bid, the chances of Samsung Biologics winning the contract have increased.