Celltrion Chairman Seo Jungjin: "4 Trillion Won Domestic Investment Over 3 Years... Annual R&D to Reach 1 Trillion Won by 2027"

Follow-up Public-Private Joint Meeting on Korea-US Tariff Negotiations

Celltrion will invest 4 trillion won in domestic production and research infrastructure over the next three years, following the conclusion of the Korea-US tariff negotiations.

According to industry sources on the 17th, Seo Jungjin, Chairman of Celltrion Group, announced at the “Follow-up Public-Private Joint Meeting on Korea-US Tariff Negotiations” held at the Yongsan Presidential Office in Seoul the previous day, “We will invest a total of 4 trillion won in facilities in Songdo, Ochang in North Chungcheong Province, and Yesan in South Chungcheong Province over the next three years.” This large-scale investment targets both the expansion of domestic production facilities and balanced regional development.

Seo Jungjin, Chairman of Celltrion, is speaking at the follow-up public-private joint meeting on Korea-US tariff negotiations held at the Yongsan Presidential Office on the 16th. Photo by Yonhap News

Chairman Seo stated, “The bio industry relies on highly skilled personnel as its core competitiveness, but investment expansion faces limitations due to the reluctance of workers to be stationed in regional areas. The central and local governments should work together to provide talent incentives and improve living environments, creating a successful model for regional investment.” He emphasized that this investment plan “will serve as a symbolic turning point to address the concerns of the President regarding the decline in domestic investment and regional imbalance.”

This discussion took place as Korea and the United States concluded their tariff negotiations, amid a trend of strengthened commitments by domestic companies to production and employment in the United States. Chairman Seo noted that, in response to US requests, expanding local production facilities would require about 2 trillion won to manufacture pharmaceuticals in the United States, but he added, “We will invest twice that amount in Korea.” In September, Celltrion completed the acquisition of Eli Lilly’s manufacturing plant in New Jersey, establishing a local production base in the US.

R&D investment will also be significantly expanded. Chairman Seo said, “Until now, we have spent about 600 billion won annually on research and development, but starting next year, we will increase it to about 800 billion won, and by 2027, R&D spending will exceed 1 trillion won. At this scale, we will be on par with global top-tier pharmaceutical companies.” He also revealed plans to expand the existing 500 billion won startup collaboration fund to 1 trillion won, explaining, “If government policy support is provided, this fund will systematically foster the bio startup ecosystem.”

Chairman Seo also highlighted the need for regulatory improvements to reduce the clinical trial cost burden for domestic bio companies. He said, “We are not asking to deregulate pharmaceuticals, but to align with global standards. The United States and Europe have begun to share clinical data with each other, and if Korea participates, clinical trial periods and costs can be drastically reduced.” He added, “In the AI era, healthcare platforms that enable self-diagnosis will emerge, and a significant portion of the 20 billion won investment cap for the US will be allocated to healthcare AI.”