Lotte Biologics and Yeonsu District Sign MOU for Bioindustry Development

Promoting Mutual Cooperation in Licensing, Talent Development, and Job Creation

Lotte Biologics announced on January 12 that it has signed a memorandum of understanding (MOU) with Yeonsu District in Incheon for the sustainable development of the bioindustry and the creation of jobs.

Through this agreement, the two parties have agreed to cooperate in a variety of areas, including: ▲ revitalizing the bio-specialized complex ▲ nurturing talent in the CDMO (Contract Development and Manufacturing Organization) sector ▲ creating local jobs ▲ improving environmental conditions and social contribution.

Lotte Biologics plans to promote the local economy through close cooperation with Yeonsu District and further solidify the status of the bio cluster centered in Songdo International City.

In addition, the company expects to receive administrative support from Yeonsu District for the completion process of its first plant, scheduled for completion in the second half of this year, thereby establishing a stable operational foundation. Lotte Biologics also aims to collaborate on the construction of roads and infrastructure, the establishment of foundational facilities, and securing talent within Songdo District 11, contributing to local economic revitalization and the advancement of the bioindustry.

Yoon Youngsoo, Head of Communications at Lotte Biologics, stated, "In order to grow into a global CDMO company, mutual prosperity and close cooperation with the local community are essential. We will contribute to regional development by fostering the ecosystem of the Songdo bio-specialized complex and will continue to provide products and services with strong quality competitiveness."

Lee Jaeho, Mayor of Yeonsu District, said, "The core of this agreement goes beyond simply attracting companies; it is about enabling our residents to work at world-class bio companies and grow together with the region. We will spare no administrative support to ensure that tangible benefits, such as priority hiring of local residents, are realized."