Shin Dong-bin, chairman of Lotte Group, visited the Lotte Biologics Songdo Plant to assess preparations for commercial production and strategies for securing global clients. As the first domestic production base for Lotte's burgeoning bio business, his visit underscores the importance of this sector for the company's future growth.
According to Lotte Group, Shin visited the Songdo facility on the morning of July 3, where he inspected key equipment and encouraged employees. He was accompanied by James Park, co-CEO of Lotte Biologics, Shin Yoo-yeol, co-CEO of Lotte Biologics and head of Lotte Holdings' Future Growth Division, and O Il-geun, CEO of Lotte Engineering & Construction.
During the visit, Shin toured the main production facilities and received updates on the company's strategies for responding to global client demands. He stated, "Biotech is a core industry that will lead the group's new leap forward," and urged the team to ensure that all scheduled activities proceed without delays following the plant's completion.
This visit follows Shin's trip to Vietnam in April, where he evaluated the local operations of Lotte's retail and food subsidiaries. His ongoing site visits reflect a commitment to overseeing both existing and future growth sectors.
Lotte Group is focusing on diversifying its portfolio around four key growth drivers, including biotech. Notably, Shin's son, Shin Yoo-yeol, is taking a prominent role in managing Lotte Biologics, marking the bio sector as a significant future revenue source for the group, supported by substantial investments.
Shin's visit came shortly after the Songdo Plant received its usage approval, following over two years of construction. The facility is designed for the production of antibody drugs, featuring eight 15,000-liter stainless steel bioreactors, totaling a capacity of 120,000 liters.
With the approval, Lotte Biologics has completed the installation of production equipment and key systems, entering a practical preparation phase for orders and commercial production. This enables the implementation of a 'dual site' strategy, linking initial clinical and small-scale production in Syracuse, New York, with large-scale commercial production in Songdo, South Korea.
Additionally, the plant incorporates data-driven process technologies such as an automated manufacturing control system (MCS), digital twins, and computational fluid dynamics (CFD) simulations, ensuring both quality stability and production efficiency from the design phase.
In the second half of the year, Lotte Biologics plans to commence trial operations at the Songdo Plant and validate its production systems, aiming to complete Good Manufacturing Practice (GMP) certification by the end of the year.
The GMP preparation timeline has been accelerated by approximately six months compared to initial plans. The company intends to promote the production capacity and quality management capabilities of the Songdo facility to global pharmaceutical companies while focusing on securing new orders.
* This article has been translated by AI.
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