Incheon Yeonsu-gu and Lotte Biologics Join Forces for Local Job Creation

On January 12, Incheon Yeonsu-gu announced that it had signed a memorandum of understanding (MOU) with Lotte Biologics for the sustainable development of the local bio industry and job creation.

The district plans to work closely with Lotte Bio to secure momentum for revitalizing the local economy and to further strengthen the status of the biotechnology cluster centered around Songdo International City.

Incheon Yeonsu-gu and Lotte Bio Sign Business Agreement. Photo by Incheon Yeonsu-gu

Under the agreement, the district and Lotte Bio will discuss job creation measures such as giving hiring priority to local residents for positions at the factory currently being built by Lotte Bio in Songdo District 11. The district also plans to cooperate in fostering talent in the contract development and manufacturing organization (CDMO) sector and in revitalizing the local bio-specialized complex through administrative support.

The district emphasized that this agreement is particularly meaningful as it marks the first collaboration between Lotte Bio and a basic local government.

Lotte Bio is currently constructing a large-scale bio campus (production plant) on a 202,285-square-meter site in Songdo District 11, aiming to complete the first plant in the second half of this year.

Lee Jaeho, Mayor of Yeonsu-gu, stated, "The core of this agreement is that a global bio company will grow together with the local community," adding, "We will spare no administrative support to ensure that practical benefits, such as priority hiring for local residents, are realized."