L&K Biomed, Factory Tour Event to Celebrate Completion of Second Plant

Strengthening Communication by Inviting Shareholders and Investors Every Thursday
Enhancing Trust and Maximizing Shareholder Value through Open Management and Communication

[Asia Economy Reporter Park Hyungsoo] L&K Biomed, a developer of spinal implants, announced on the 13th that it will hold a shareholder visit event to showcase its production site filled with state-of-the-art facilities in celebration of the completion of its second factory in Yongin, Gyeonggi Province.

From the 27th, the production site will be open every Thursday for four weeks. Tours will be conducted separately for shareholders and institutional investors. Considering the COVID-19 situation, the number of participants will be adjusted in compliance with social distancing regulations. To prevent the spread of COVID-19, participation in the factory tour event will be limited to fewer than 10 people per session. The event will offer various attractions, including a tour of the sterile spinal implant production site utilizing the sterilized product process at the Yongin second factory and a showroom. Shareholders wishing to participate in the invitation event can apply through the L&K Biomed website.

A company official said, "This was planned as one way to enhance trust and promote the company’s status to maximize corporate value," adding, "We expect it to contribute to transparent management through smooth communication with stakeholders."

L&K Biomed expects to respond to the increased volume of overseas exports by fully operating the second factory, which was designed to allow equipment concentration at each process. The second factory, which introduced a sterilized product process, is expected to serve as a production base for spinal implants in the ‘post-COVID’ era. Along with a specialized research facility for its flagship product, the Expandable Interbody Fusion Cage, a showroom for product promotion has also been established at the second factory.

Park Geunju, CEO of L&K Biomed, said, "Through the factory tour program prepared to mark the completion of the second factory, we will showcase innovative products to investors," and explained, "We will demonstrate that L&K Biomed is ready to compete in overseas markets through the second factory."

L&K Biomed holds patents related to spinal implant medical devices that produce all products from the upper to the lower spine. Recognized for its technology in the U.S. market, it has received FDA product approval for three types of spinal implant products. Recently, sales requests have been increasing through a network of over 80 hospitals and more than 60 distribution agents in the United States.