DuChemBio(176750) said on the 7th that it will build a contract development and manufacturing organization (CDMO) plant for radiopharmaceuticals in Jeongeup, Jeonbuk. Radiopharmaceuticals emit radiation when administered to patients and destroy cancer cells. The company plans to invest 34.3 billion won to handle everything in Jeongeup from manufacturing radiopharmaceuticals to exports.
DuChemBio recently signed an investment agreement related to radiopharmaceuticals with Jeonbuk State and Jeongeup City. DuChemBio will sequentially build a radiopharmaceutical plant and a research and development (R&D) center in the Sinjeong-dong advanced industrial complex in Jeongeup by 2032. The new plant's annual production capacity is 1,000 batches (single production units). DuChemBio plans to raise 19.3 billion won in equity and 15 billion won through facility financing.
The Jeongeup advanced industrial complex is designated as an opportunity development zone. The new establishment can receive benefits such as reductions in income and corporate taxes and in acquisition taxes for land and buildings. DuChemBio has set a goal of recording 20 billion won in annual sales in Jeongeup after 2032.
Jeonbuk State Gov. Lee Won-taeg said, "We will continue to provide the necessary support from plant permits to completion and commercial production." DuChemBio CEO Kim Sang-woo said, "Global pharmaceutical companies see Korea as a key base," adding, "We will grow Jeongeup into an East Asian radiopharmaceutical hub."