German Merck to invest over 300 million euros in South Korea production site
German pharma and life sciences major Merck KGaA (MRK: DE) today revealed it plans to invests more than 300 million euros ($32.7 million) into a new Bioprocessing Production Center in Daejeon, South Korea.
The company said the new site is the largest investment by Merck's Life Science business sector in Asia-Pacific to date and demonstrates the company’s commitment to expanding its capacities in the fast-growing region. Merck expects the investment to create approximately 300 additional jobs by the end of 2028.
“The Asia-Pacific region is home to a large number of institutions that conduct leading-edge and innovative research, manufacturing and services in areas such as biotechnology, mRNA and gene therapy,” said Matthias Heinzel, a member of the executive board of Merck and chief executive Life Science. “Expanding our presence in the region will bring us even closer to our customers in this evolving and dynamic market. Our goal is to foster deep collaboration to increase the speed in bringing new therapies to patients,” he added.
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