Samsung Biologics to invest $6 billion to build new production facilities

Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said it will invest 7.5 trillion won (US$6 billion) to build a new biomedicine production complex west of Seoul, reports Yonhap news agency. Samsung Biologics CEO John Rim said in the J.P. Morgan Healthcare Conference in San Francisco that the new bio complex, named Bio Campus II, will be built in Songdo, west of Seoul, where the company is headquartered, housing massive production facilities and an open innovation center to foster biotech firms. Also Read: Diwali Sale Feast! Samsung Galaxy S25 Ultra Price Cut Under Rs 1 Lakh, Here's How

The investment scheme is part of the company’s expansion plan to become the world’s leading bio company, he said. He said its Plant 4 at its Bio Campus I, which began partial operations last year, will be completed by the end of this year and help the company have a combined biomanufacturing capacity of 604,000 liters. “Samsung Biologics said it has already signed 11 large-scale manufacturing contracts with Plant 4 and is in talks with 26 customers to produce 34 more medical products,” the report mentioned. Also Read: Samsung Galaxy M17 5G Sale Begins In India Today: Check The Price, Specifications, And More For This Budget Phone

The company also said it is planning to diversify its business portfolio with next-generation medication, including antibody drug conjugates and gene therapy. As part of its global expansion strategy, Samsung Biologics, which opened a research and development center in San Francisco in 2020, will set up sales offices in U.S. hub regions like New Jersey as communication channels for global customers. Also Read: Just Like Samsung Galaxy Z Fold 7, But Better! This New Foldable Samsung W26 Has Something Special

Meanwhile, earlier the tech giant had introduced its innovations in sectors ranging from artificial intelligence (AI) and Internet of Things (IoT) to robots at its press conference for the world’s largest tech show.

At the online event, Samsung had unveiled its robots that were in development, including Samsung Bot Handy which can pick up objects after analysing their sizes, shapes and weights through advanced AI technology.

Moreover, the company introduced the upgraded version of its Samsung Bot Care, a robotic assistant that was unveiled at CES 2019.