Sartorius significantly expands activities in South Korea

Rhea-AI Summary

Sartorius is investing approximately 270 million euros (around 300 million USD) to expand its operations in South Korea by 2024. This includes the establishment of cell culture media production and sterile system assembly in Songdo, Incheon. The investment aims to enhance delivery speed and capacity in response to the growing biopharmaceutical industry in the region. Construction will span 25,000 square meters with facilities for manufacturing and logistics, creating around 750 new jobs. Operations are expected to start by the end of 2024.

Positive

• Investment of approximately 270 million euros to expand activities in South Korea.
• Creation of approximately 750 new jobs.
• Manufacturing and logistics facilities spanning 25,000 square meters will enhance production capacity.

Negative

• None.

GÖTTINGEN, Germany, Nov. 25, 2021 /PRNewswire/ -- The life science company Sartorius is investing around 270 million euros, some 300 million U.S. dollars, through the end of 2024 in expanding its activities in South Korea. In the country's biopharma hub Songdo in Incheon, the company plans to launch cell culture media production and to assemble sterile systems for efficient and flexible manufacturing of biopharmaceuticals, among other operations. This investment responds to the dynamic development of the South Korean market as well as of further Asian markets.  

"The development of the biopharmaceutical industry in Asia and, in particular, South Korea, has entered a new phase characterized by a high innovation and investment pace on the part of our customers. With our significant investments in Songdo, we will be increasing capacities, moving production operations closer to our customers in the region and substantially accelerating our delivery speed," said Sartorius Executive Board Chairman and CEO Joachim Kreuzburg on Thursday in South Korea after meeting with ministers of the country's government. 

Construction of the company's facilities on the property site covering some 25,000 square meters, or close to 270,000 square feet, will include an application center with laboratories as well as several buildings for manufacturing and logistics. In total, new jobs for approximately 750 people will be created there. In addition, Sartorius' existing activities for service as well as marketing and sales will relocate to the new site under development, which offers space for further extensions. Construction work at the site is slated to begin in the coming year, and production operations are scheduled to start by the end of 2024.

Sartorius has been operating a sales and service office in South Korea for more than 30 years. Currently, more than 180 people work at this location for Sartorius.

A profile of Sartorius

The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group's Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2020, the company earned sales revenue of some 2.34 billion euros. At the end of 2020, nearly 11,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe. Follow Sartorius on Twitter and on LinkedIn.

Contact

Timo Lindemann
Press Spokesman
+49 (0)551.308.4724
timo.lindemann@sartorius.com 
https://www.sartorius.com/en

 

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SOURCE Sartorius AG

FAQ

What is Sartorius investing in South Korea?

Sartorius is investing around 270 million euros (300 million USD) in expanding its operations in South Korea, including production and assembly facilities.

How many jobs will Sartorius create in South Korea?

Sartorius plans to create approximately 750 new jobs in South Korea as part of its expansion.

When will Sartorius start production operations in South Korea?

Production operations by Sartorius in South Korea are scheduled to start by the end of 2024.

Where will Sartorius's new facilities be located in South Korea?

The new Sartorius facilities will be located in Songdo, Incheon, within South Korea's biopharma hub.