Samsung Biologics is moving in earnest to build a third campus by securing additional land within Songdo International City in Incheon.
The Incheon Free Economic Zone Authority said on the 30th that it signed a sales contract on the 28th at Incheon City Hall with Samsung Biologics for industrial land within Songdo District 11. The site secured by Samsung Biologics this time is 187,427 square meters within the advanced industry cluster, and the sale price is 248.7 billion won.
The Incheon Free Economic Zone Authority selected Samsung Biologics, the sole participant in the land supply tender held in Jun., as the preferred negotiation partner and has been in talks.
Samsung Biologics plans to build a third campus on the site, connecting the existing first and second campuses. The company aims to create an "innovative medicines bio village" here and to establish four manufacturing buildings that cover the development, manufacturing, and commercialization of next-generation medicines such as gene and cell therapies and antibody vaccines.
The total project cost is 7 trillion won, with the goal of completing the third campus by 2034. The Incheon Free Economic Zone Authority projected that more than 4,000 new jobs would be created and forecast demand for 1,000 partner-company employees and 5,000 construction workers.
Samsung Biologics is currently operating Plants 1–4 with a production capacity of 604,000 liters at the first campus (274,000 square meters). The second campus (357,366 square meters) is slated to house Plants 5–8, and following the completed Plant 5 (180,000 liters), an expansion of Plant 6 is also under review.
John Rim, CEO of Samsung Biologics, said, "Investment in the third campus is a decision to secure a new growth engine," and added, "We expect it to serve as an important momentum to leap forward as a global bio top corporations."