'Aiming for Global Top 10 CDMO... Songdo Becomes Growth Hub for Lotte Bio'

Groundbreaking Ceremony for Songdo Bio Campus 'Plant 1'
Securing Capacity of 360,000ℓ with 3 Plants by 2029
'Two-Track Growth' through Partnership with US Syracuse
Aiming for 'Global Top 10' with 1.5 Trillion KRW Sales by 2030

Lotte Biologics, which has set the vision of becoming a 'Top 10 Global Contract Development and Manufacturing Organization (CDMO) by 2030,' is officially establishing its base in Songdo.

A bird's-eye view of Lotte Biologics' Incheon Songdo Bio Campus. Starting with the completion of Plant 1 (center) in 2025, the goal is to complete Plant 2 (right) in 2027 and Plant 3 in 2029.
[Photo by Lotte Biologics]

On the morning of the 3rd, Lotte Biologics announced that it will hold a groundbreaking ceremony for the construction of the Songdo Bio Campus Phase 1 plant in Songdo, Incheon. The bio campus, with a total investment of 4.6 trillion KRW, is planned to have three production plants on a site with a total floor area of 202,285㎡. The first plant, which will be the starting point, has a production capacity of 120,000 liters and basic construction began in March. The plant is scheduled to be completed in the first quarter of 2026, followed by verification procedures, with actual operation targeted for 2027.

Subsequently, when the second and third plants, both with the same capacity, are completed, Lotte Biologics will have a total production capacity of 360,000 liters in Songdo by 2029. The full operation target is set for 2034. Including the Syracuse plant in the United States, acquired last year from Bristol-Myers Squibb (BMS), Lotte Biologics’ total production capacity is expected to reach 400,000 liters.

At a press conference held the day before in Songpa-gu, Seoul, Lotte Biologics CEO Lee Won-jik explained the choice of Songdo as the base by saying, "Because the bio cluster is established in Songdo," and added, "It is difficult to find bio personnel in Korea, and I thought Songdo was the optimal location in the metropolitan area, so we chose Songdo." Regarding potential personnel movement triggered by the Songdo relocation, he said, "I do not think it is good to say that personnel are being poached," and explained, "Personnel movement should be free, and Lotte Biologics plans to encourage more employees to join through compensation plans such as stock options."

Lee Won-jik, CEO of Lotte Biologics, is speaking at a press conference held on the morning of the 2nd in Songpa-gu, Seoul.
[Photo by Lee Chun-hee]

The groundbreaking of the Songdo Bio Campus is also expected to accelerate Lotte Biologics’ core growth strategy of 'two-track growth.' Kang Joo-eon, Executive Director of Business Planning, emphasized, "Lotte Biologics’ direction is to quickly enter the market by acquiring existing plants and converting them into CDMO facilities, along with establishing its own plants for economies of scale," and added, "Songdo offers cost competitiveness and quality competitiveness, while Syracuse focuses on small-scale production and various modalities such as antibody-drug conjugates (ADC), creating synergy between the two plants." An ADC-dedicated production facility is currently being prepared at the Syracuse plant, targeting operation in the first quarter of next year.

The core of Songdo’s quality competitiveness is 'high-titer' production, which is a concept of improving antibody quality to increase production yield. To this end, not only a large-scale 15,000-liter bioreactor for mass production but also a 3,000-liter bioreactor capable of high-titer production will be installed. Yoo Hyung-deok, Executive Director of Business Expansion, explained, "Technology has recently advanced toward high-concentration products, so we want to establish processes that correspond to this," and added, "We will prepare a customized cultivation system designed based on our own ideas."

Through this, Lotte Biologics aims to achieve annual sales of 1.5 trillion KRW by 2030 and join the ranks of the 'Global Top 10 CDMO' by sales. With the first plant starting production in 2026 and the second in 2028, full operation is expected to generate about 700 billion KRW in sales per plant. Considering that the Syracuse plant already recorded sales of 228.6 billion KRW last year, this goal is confidently achievable.

The Songdo Bio Campus will not only house facilities for Lotte Biologics but also prepare for the Bio Venture Initiative (BVI) program to foster the bio-industry ecosystem. CEO Lee explained the purpose, saying, "We have the will for CDMO companies to actively support the co-growth of venture companies," and added, "We aim to realize mutual growth with ventures by transferring know-how and knowledge."