German pharmaceutical firm plans new APAC bioprocessing plant in South Korea
Merck will use its Asia Pacific Bioprocessing Center for commercial manufacturing for its biotech and pharmaceutical clients.
German-based Merck signed a non-binding memorandum of understanding with South Korea’s trade ministry and the local government to set up a bioprocessing manufacturing plant in Daejeon City.
Merck said the facility dubbed Asia Pacific Bioprocessing Center will be used for commercial manufacturing for its biotech and pharmaceutical customers. It also aims to support the region’s healthcare ecosystem.
"The proposed facility would play a vital role in fulfilling demand in the Asia-Pacific region while representing an important hub for further biopharma industry development in South Korea,” Matthias Heinzel, member of the executive board and chief executive for life science at Merck, said in a statement.
The MoU was signed between Merck, which operates across life science, healthcare and electronics globally, as well as Korea’s Ministry of Trade, Industry and Energy and the local government of Daejeon City.
The company also vowed to work with the local government to support local biotech firms located in the Daedeok Research Complex and expand its academic research collaboration with select universities in the country.
"Together with Merck, this planned investment cooperation will help support Daejeon's growth to become a world-class biotech hub,” said Jang Woo Lee, the mayor of Daejeon.
In choosing the East Asian nation for its new regional production plant, Merck’s Heinzel said he regards South Korea as an “emerging global leader in the biotech industry.”