by Sungmin Kim
Sartorius, a global company, has decided to invest $100 million in Songdo bio-cluster in the Incheon Free Economic Zone (IFEZ).
On the 4th, the Incheon Free Economic Zone Authority announced that Sartorius AG, Germany, submitted a $100 million (about 120 billion won) investment letter for research and development and manufacturing related to single-use bag and cell culture medium, which are major products in the biopharmaceutical process in Songdo.
Sartorius was established in Germany in 1870 and is a global company that supplies research and process related products and equipment in the field of life sciences and supports related technology services. Currently, it has entered more than 30 countries, with 9,000 employees and 1.83 billion euros (about 2400 billion won) in sales as of last year.
Kim Deok-sang, CEO of Sartorius Korea Biotech, visited Songdo G Tower and officially delivered a letter of intent for investment in Songdo to Lee Won-jae, head of the Incheon Economic Agency, and discussed cooperation for technical support and education in biopharmaceutical processes.
CEO Duk-Sang Kim said, "This investment decision was made possible by the potential of the rapidly developing Korean bio market, the attractiveness of Songdo as a bio cluster, and the active support of both Samsung Biologics and Celltrion in the Songdo bio-cluster."
Lee Won-jae, head of the Incheon Free Economic Zone Authority, said, "For the smooth R&D and production of bio companies, it is very import to secure raw materials, provide high-tech support and educate working-level employees. And we will provide maximum support for Sartorius' move to Songdo."