Handok and Genexine Complete New Headquarters and Research Center in Magok

Completion of Handok Future Complex and Genexine Progen Bio Innovation Park

Seoul Gangseo-gu Magok District 'Handok Future Complex' and 'Genexine Progen Bio Innovation Park'

[Asia Economy Reporter Chunhee Lee] Handok and Genexine have completed the construction of a research institute and new headquarters building in the Magok district of Gangseo-gu, Seoul, accelerating global new drug development.

On the 24th, Handok, Genexine, and Progen held the 'Handok Future Complex and Genexine Progen Bio Innovation Park Completion Ceremony,' announced on the 25th. The total area is 60,912㎡, and construction began in 2019.

The Handok Future Complex consists of a total floor area of 21,837㎡, with three basement floors and eight above-ground floors. It houses Handok's central research institute and InnoCube, a subsidiary of Handok. Handok plans to integrate its product development research institute and new drug development research institute, which were previously separated in Jungnang-dong, Jungnang-gu, Seoul, and Pangyo, Seongnam-si, Gyeonggi-do, into the Handok Future Complex to strengthen research and development (R&D) capabilities and infrastructure. Additionally, with the completion of the Handok Future Complex, Handok aims to enhance cooperation with its affiliate Genexine and expand the innovation platform for new drug development through InnoCube.

The new headquarters building for Genexine and Progen, the 'Genexine Progen Bio Innovation Park,' has a total floor area of 39,075㎡, with three basement floors and nine above-ground floors. Excluding parking and common areas, six floors are used by Genexine and two floors by Progen. Since Genexine is focusing on the commercialization of late-stage clinical new drug pipelines, it plans to enhance work efficiency by relocating its headquarters to consolidate business development, clinical development, and research institutes in one place.

The Handok Future Complex and Genexine Progen Bio Innovation Park have increased the overall floor height and added openness to research laboratory spaces to foster creative thinking among researchers. Various spaces such as meeting lounges, open labs, and cafeterias have been provided to facilitate free communication and collaboration.

Kim Young-jin, Chairman of Handok, said, "With this completion, we have been able to realize a more advanced form of open innovation," adding, "Since a good environment where researchers can immerse themselves has been established, we will ensure that it leads to achievements in global new drug development." Woo Jung-won, CEO of Genexine, also stated, "Welcoming the new Magok era, the Bio Innovation Park will provide the optimal environment for Genexine to successfully achieve its second leap as a global bio company," and added, "With all departments located in one space, work cooperation and creative discussions are expected to be further strengthened, and collaboration with affiliates will be promoted to more efficiently focus on the commercialization of pipelines."