Biopharmaceutical contract development and manufacturing organizations (CDMO) corporations Lotte Biologics said on the 10th that the No. 1 plant at the Songdo Bio Campus, which is under construction at the advanced industry cluster in Songdo International City, Incheon, has completed its structural work and held a topping-out ceremony.
The topping-out ceremony (上梁式) is an event in traditional architecture where the ridge beam, the uppermost member of the roof, is raised, signaling the birth of the building and embodying wishes for safety and peace.
Lotte Biologics is pushing to create the Songdo Bio Campus, composed of three production facilities each with a capacity of 120,000 liters. Among them, the No. 1 plant broke ground in March 2024 and finished its structural work in a year and six months. The company said it aims to complete construction next year and begin commercial production of antibody drugs in the first half of 2027.
When Plant 1 is completed, the company will secure a total production capacity of 160,000 liters, including the 40,000-liter capacity of the Syracuse Bio Campus in the United States. Now in its fourth year since establishment, Lotte Biologics has won three contract manufacturing deals this year.
In a commemorative speech, Park James, CEO of Lotte Biologics, said, "The topping-out of the No. 1 plant at the Songdo Bio Campus is an important stepping stone for Lotte Biologics' growth and a meaningful moment that opens the future of the Republic of Korea's bio industry," adding, "We will grow into corporations that lead the global CDMO market and contribute to improving human health."
Shin Yu-yeol, head of global strategy at Lotte Biologics and head of future growth at LOTTE Corporation, said, "Thanks to the dedication of construction and bio employees in their respective positions from groundbreaking to topping-out, we have reached a meaningful day," adding, "Lotte Biologics will grow into a company that represents the group's new growth engine and its future."
Attending the event were Park James, CEO of Lotte Biologics; Shin Yu-yeol, head of global strategy at Lotte Biologics and head of future growth at LOTTE Corporation; Park Hyun-cheol, vice chairman and CEO of Lotte Construction; Kim Jin, head of the CM Business Division; and other key figures and employees of the Lotte Group.