Daejeon city and biotech corporations Alteogen signed a business agreement for a 253.2 billion won investment and the creation of 135 new jobs.
According to Daejeon city, on the 21st at 3 p.m. at Daejeon City Hall, Mayor Heo Tae-jeong of Daejeon, Chair Park Soon-jae of Alteogen, and President Jeon Tae-yeon held a signing ceremony for the business agreement.
Under this agreement, Alteogen will invest 253.2 billion won to build new manufacturing facilities for drug substances and finished pharmaceuticals in the Dungok district of Yuseong-gu. Daejeon city will provide administrative and financial support to ensure the corporations' smooth investment.
Mayor Heo Tae-jeong of Daejeon said, "We will actively foster the biotech industry in connection with our city's AI-based future growth strategy," and added, "We will provide support from multiple angles so that Alteogen, a leading domestic biotech company, can successfully bring its Daejeon investment to fruition."