Celltrion Group Chairman Seo Jung-Jin said at a follow-up public-private joint meeting on the U.S.-Korea tariff negotiations, presided over by President Lee Jae-myung at the presidential office in Yongsan, Seoul, on the 16th, that the company plans to invest 4 trillion won in Korea over three years. He said research and development (R&D) investment will be increased to 1 trillion won in 2027.
At the meeting with major group chiefs and President Lee that day, Chairman Seo said, "We will invest 4 trillion won in facilities in Songdo, Ochang in North Chungcheong, and Yesan in South Chungcheong." He added, "Bio and pharmaceuticals have many highly educated workers, but good talent does not want to work in the provinces," and said, "We will discuss with local governments how to solve this issue and take the lead in balanced regional development."
Chairman Seo said, "Until now, we have spent 600 billion won a year on research and development, but starting next year we will spend about 800 billion won," adding, "Around the year after next, R&D spending will exceed 1 trillion won, which will be on par with top global pharmaceutical companies." He said, "There is a fund working with Start - Up corporations worth 500 billion won now, and if government policy supports it, we will expand it to 1 trillion won."
Celltrion acquired Eli Lilly's manufacturing plant in New Jersey in September. Chairman Seo said, "As the U.S. government wants, we plan to make (biopharmaceuticals) in the United States and sell them," adding, "It will cost 2 trillion won." He continued, "The United States and Europe are in the final stage of (policy promotion for) sharing clinical data," and said, "If Korea joins and uses the data together, domestic pharmaceutical companies can reduce clinical expense."
Chairman Seo said, "Watching this time, President Lee's guts and perseverance were remarkable," adding, "Lobbyists in the United States said, 'The Korean government is impressive.'" He added, "I sincerely respect that," and said, "We will do our best so that the public can feel the (results)." Attending the meeting were Chairman Seo; Samsung Electronics Chairman Lee Jae-yong; SK Group Chairman Chey Tae-won; Hyundai Motor Group Chairman Chung Eui-sun; LG Group Chairman Koo Kwang-mo; HD Hyundai Chairman Chung Ki-sun; and Hanwha Group Vice Chairman Yeo Seung-joo.