PharmaResearch will build its fifth plant in Gangneung through a large-scale investment of more than 100 billion won.
According to the industry on the 10th, PharmaResearch signed an investment agreement (MOU) with Gangwon Special Self-Governing Province and Gangneung City to build a new plant.
Under the agreement, PharmaResearch will invest a total of 100.2 billion won to build a plant with a total floor area of 25,073.3 square meters on a 30,756-square-meter site in the Gangneung General Science Industrial Complex (Bangdong-ri, Sacheon-myeon, Gangneung). It is aiming for completion in 2027 and plans to push for the hiring of more than 50 new employees.
Gangwon Province and Gangneung City said they will actively provide administrative services, including permits and support for corporations, to help the plant begin normal operations as early as possible.
Through this investment, PharmaResearch is expected to strengthen its production hub function in the fields of regenerative medicine and aesthetics centered on Gangneung, and to contribute to expanding the local bioindustry ecosystem and revitalizing the regional economy.
Gangwon Province and Gangneung City were recently selected for the final round of the "regional anchor corporations-regional universities joint development of strategic technologies" program led by the Ministry of Trade, Industry and Energy and the Ministry of Education. Accordingly, a project to commercialize medical products for the treatment of oral diseases, with participation from regional universities, PharmaResearch, and regional corporations, is underway. The province and the city, together with PharmaResearch, plan to develop medical materials for alveolar bone and soft tissue regeneration through 2029.
PharmaResearch is expanding its product lines, including pharmaceuticals, aesthetic medical devices, and dermacosmetics, based on patented technologies in regenerative medicine. Led by its flagship brand "Rejuran," it has recorded an annual average sales growth rate in the 30% range.
Kim Jin-tae, the Gangwon governor, said, "PharmaResearch is also an active corporation in social contribution, including investment in the Arte Museum," adding, "I hope the sixth and seventh plants will also be built in the Gangneung Natural Products National Industrial Complex." Gangneung Mayor Kim Hong-gyu said, "We will spare no administrative support so that the corporation can grow into a global biopharmaceutical company representing Gangneung."