Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) Samsung BioLogics Co., a pharmaceutical arm under South Korea's top conglomerate Samsung Group, said Monday that it will build its third production line in the country by 2017, as part of an effort to focus on securing a new growth engine.

Under the plan, Samsung BioLogics will invest 850 billion won (US$721 million) to build the facility in Songdo, west of Seoul, which will make the firm the world's top contract manufacturing organization (CMO).

The new facility will boast an annual production capacity of 180,000 liters upon completion, also marking the top size as an individual factory record. The company already operates two factories in Songdo, with annual production capacities of 30,000 liters and 150,000 liters, respectively.

Samsung earlier invested 2.1 trillion won to build the two production lines.

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