[Asia Economy Reporter Hyunseok Yoo] Hugel announced on the 9th that it held a groundbreaking ceremony for a new factory to expand production of Across HA filler at the new factory site in the Geodunong Industrial Complex in Chuncheon on the 8th.
The groundbreaking ceremony was attended by about 30 key stakeholders, including CEO Jihoon Son and Across CEO Sunho Han.
Hugel invested approximately 16 billion KRW in the construction of the new factory. The new factory is scheduled to be completed by December and will begin full-scale production from April next year. Based on this, Hugel plans to double the annual production capacity of HA filler from the existing 4 million syringes to 8 million syringes. Additionally, to maximize production efficiency, the latest high-speed automatic packaging equipment will be introduced, enabling production of up to 6,000 syringes per hour, the highest level in Korea.
The decision to build the new Hugel factory was driven by the rapid growth of its HA filler in domestic and international markets. Following the achievement of becoming the 'No. 1 domestic HA filler market leader' for the first time last year, and visible growth in overseas markets centered on Europe, the company plans to respond to the rapidly increasing demand and increase its global market share by expanding production facilities.
A Hugel official stated, “As our products continue to achieve sustained high growth not only as a domestic leader but also in overseas markets, we have built a new factory to pursue a more aggressive global market expansion. Based on the new factory, we expect Hugel to advance as a global company by expanding market share in 28 countries worldwide where we have already entered and by pioneering new overseas markets.”
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