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| Celltrion Chairman Seo Jung-jin speaks during a media conference at Incheon City Hall, Thursday. / Yonhap |
By Jun Ji-hye
Celltrion will invest 40 trillion won ($34 billion) by 2030 with the aim of making it a leading global biologics company, Chairman Seo Jung-jin said Thursday.
Of the investment, 25 trillion won will be invested in the firm's core biopharmaceutical business in the western port city of Incheon, he said, noting that this is expected to create 110,000 jobs, directly and indirectly.
Seo made the remarks at a press conference in Incheon where the firm is headquartered.
He said another 5 trillion won will be invested into medicinal chemistry at its facility in Ochang, North Chungcheong Province, while 10 trillion won will be spent on its healthcare platform business.
"Celltrion takes huge responsibility as a company that leads the nation's biopharmaceutical industry," he said. "We will concentrate our efforts on businesses that can contribute to enhancing the competitiveness of the country's healthcare industry."
He said his firm plans to develop more than 20 second-generation biosimilar products in Incheon and expand facilities there to secure production capacity.
The company will work to expand its networks for direct sales worldwide. He said direct sales will be established in Europe by the end of the year; in Asia and South America by the end of 2020; and in the United States and Canada by the end of 2021.
Seo said his firm will also focus on the medical treatment data and artificial intelligence (AI) sectors to develop various platforms that can be utilized in the healthcare business.
Of the 110,000 jobs created, 10,000 will be at Celltrion ― 2,000 in R&D and 8,000 in production ― with the remainder at partner companies.
Celltrion is also pushing to build a "bio valley" in Incheon in cooperation with the city and Samsung BioLogics.
"We have discussed the construction of the bio valley for a long time with Incheon City and Samsung," Seo said.
Incheon is currently carrying out a reclamation project to prepare a site of about 3.31 square kilometers. Seo said that discussions between Samsung BioLogics and the city regarding land purchase is currently underway. He added his firm is also seeking to purchase the land on equal terms.
At the bio valley, Celltrion plans to build its third plant and a large-scale R&D center, while Samsung BioLogics will also build a new factory.
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