Seoul, South Korea, February 22, 2018 — Merck, a leading science and technology company, today announced it has signed an agreement with Incheon Free Economic Zone (IFEZ) to build an integrated cell culture facility in Songdo, Incheon.
Located on 10,141 square meters of land, the new centre will include cell culture media facilities (imMEDIAte Advantage® Custom Media) and a logistics infrastructure.
“The expansion of Merck's investment in the Process Solutions business area will help meet the rapid growth in the biopharmaceutical industry in South Korea,” said Benoit Opsomer, head of Process Solutions Asia Pacific, Merck Life Science. “Merck’s new cell culture facility will enable us to strengthen our support for domestic customers and tailor our products and services to better address their needs.”
“We are excited about the advances in biotechnology in South Korea,” said IFEZ Commissioner Kim Jin-yong. “The support, capabilities and talent that Merck is bringing to Songdo will help build the bio cluster and life science presence in this area. With the focus on research in Songdo, we look forward to new therapies and drug innovation in the near future.”
Kim Jin-yong and Glenn Young, managing director of Merck Korea, signed the agreement on December 8 in the presence of Yoo Jeong-bok, mayor of Incheon Metropolitan City.
This investment follows the company’s launch of its M Lab™ Collaboration Centre at the Techno Park IT Centre in Songdo in October 2016. In November 2016, Merck signed a memorandum of understanding with IFEZ to support the building of a bio cluster in Songdo, which led to the development of the company’s cell culture facility in Songdo. Construction is expected to begin in May 2018 and to be completed by mid-2019.
Merck is a leading science and technology company in healthcare, life science and performance materials. More than 52,000 employees work to further develop technologies that improve and enhance life – from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge systems for scientific research and production, to liquid crystals for smartphones and LCD televisions. In 2016, Merck generated sales of €15 billion in 66 countries.
Founded in 1668, Merck is the world's oldest pharmaceutical and chemical company. The founding family remains the majority owner of the publicly listed corporate group. Merck holds the global rights to the “Merck” name and brand. The only exceptions are the United States and Canada, where the company operates as EMD Serono, MilliporeSigma and EMD Performance Materials.