PharmGen Science to Build 2nd Plant in Osong... Investment Agreement Signed with Chungbuk Province and Cheongju City

On the afternoon of the 22nd, at the investment agreement signing ceremony held at Chungbuk Provincial Office, Oh Se-dong, Vice Mayor of Cheongju City (from the left), Park Hee-deok, CEO of PharmGen Science, and Kim Young-hwan, Governor of Chungbuk, are posing for a commemorative photo.
[Photo by PharmGen Science]

[Asia Economy Reporter Lee Gwan-joo] PharmGen Science announced on the 23rd that it has signed a land purchase contract for the construction of its second factory in the Osong Bio-Polis District, Chungbuk, and has completed the application for residency with the Korea Industrial Complex Corporation.

PharmGen Science signed an investment agreement containing these details at the Chungbuk Provincial Office yesterday afternoon. The agreement ceremony was attended by Han Eui-sang, Chairman of PharmGen Science, Kim Young-hwan, Governor of Chungbuk, and Oh Se-dong, Deputy Mayor of Cheongju City.

PharmGen Science, which joined the 100 billion KRW annual sales club for the first time last year, is growing rapidly, with cumulative sales in the third quarter of this year increasing by 45% compared to last year. To proactively respond to this growth trend, the company has embarked on constructing its second factory.

Chungbuk Province and Cheongju City will provide administrative support to ensure the smooth progress of the second factory construction project. PharmGen Science will strive to fulfill its investment commitments and expand the scale of investment while also focusing on purchasing local materials and hiring local talent.

A PharmGen Science official stated, "Osong already hosts numerous pharmaceutical, cosmetics, and health functional food companies, including national institutions such as the Ministry of Food and Drug Safety, so synergy effects are expected," adding, "Since the land purchase is virtually complete, we will prepare the blueprint for the second factory as soon as possible and use it as a driving force to leap forward as a medium-to-large pharmaceutical company."