[Asia Economy Reporter Park Hyungsoo] Ilsin Bio's stock price is soaring. It appears to have been influenced by Samsung Biologics' announcement to establish a 4th factory for biopharmaceutical production in Songdo International City, Incheon.
At 9:39 AM on the 11th, Ilsin Bio was trading at 4,590 KRW, up 21.27% from the previous day.
Samsung Bio President Kim Tae-han held an online press conference that morning to announce the expansion plan for the Songdo 4th factory. The total investment amount is 1.74 trillion KRW. Upon completion, the production facility size is expected to be 256,000 liters, making it the largest single-scale facility.
President Kim explained the purpose of this facility investment as "strengthening competitiveness through the expansion of biopharmaceutical production facilities."
Ilsin Bio is a specialized bio equipment company that manufactures and sells ultra-low temperature freezers (Deep Freezer), freeze dryers (Freeze Dryer), and PLANT-type freeze dryers, which are essential for biotechnology research and production and research in food and pharmaceutical companies. According to its quarterly report, orders for freeze dryers continue from leading domestic conglomerates such as Samsung Electronics, LG Electronics, and Hanwha, as well as bio centers. It introduced that the growth of the bio market, including government smart care business investments and the diagnostic industry and biosimilars sectors, which large companies like Samsung Electronics and LG Electronics have begun to actively enter, is approaching as an opportunity.
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