Samsung Biologics has secured additional land within Songdo International City in Incheon and will establish its third campus by 2034.
The Incheon Free Economic Zone Authority signed a land purchase agreement with Samsung Biologics for a site in Songdo District 11 at Incheon City Hall on the 28th. The signing ceremony was attended by Yoo Jeong-bok, Mayor of Incheon, John Rim, CEO of Samsung Biologics, and Yoon Won-seok, Commissioner of the Incheon Free Economic Zone Authority.
The land newly acquired by Samsung Biologics through this agreement is designated for industrial facilities within the Advanced Industry Cluster in Songdo District 11. The site covers an area of 187,427 square meters, and the purchase price is 248.7 billion won. Previously, in June, the Incheon Free Economic Zone Authority selected Samsung Biologics as the preferred bidder after it was the sole participant in the land supply tender, and subsequent negotiations took place.
At the "Samsung Biologics 3rd Campus Investment Agreement Signing Ceremony" held at Incheon City Hall on the 28th, Yoo Jung-bok, Mayor of Incheon, John Rim, CEO of Samsung Biologics (left), and Yoon Won-seok, Commissioner of Incheon Free Economic Zone Authority, are posing for a commemorative photo. Photo by Incheon City
Samsung Biologics currently leads the global market in antibody drug manufacturing capacity and decided on this land acquisition to secure new growth engines through the expansion of additional businesses based on diverse technologies. With the establishment of the third campus, the company aims to build an "Innovative Biopharmaceutical Village," where the development, manufacturing, and commercialization of next-generation medicines such as cell and gene therapies and antibody vaccines will take place.
The total project investment is estimated at 7 trillion won, and upon completion of the facilities in 2034, it is expected to create over 4,000 new jobs. Additionally, the number of jobs generated for partner companies and construction workers is projected to reach 1,000 and 5,000, respectively.
Yoo Jeong-bok, Mayor of Incheon, stated, "I would like to express my gratitude to Samsung Biologics for deciding on such a large-scale investment despite rapidly changing global circumstances," adding, "I hope that as Samsung Biologics continues to expand its business and contribute to the local community, Incheon will be able to take a leap forward as a 'global top ten city.'"
John Rim, CEO of Samsung Biologics, commented, "The investment in the third campus is aimed at securing new growth engines," and added, "I expect this will serve as an important milestone for Samsung Biologics to grow into a leading global biopharmaceutical company."
Advanced Industry Cluster Ki17 and Ki18 Blocks in Songdo District 11, the target area for the three campuses. Incheon Free Economic Zone Authority
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