Sartorius To Invest EUR 270 Mln By 2024 To Expand Activities In South Korea

(RTTNews) - Sartorius AG (SDMHF.PK), a German life science company, Thursday said it is investing around 270 million euros or around $300 million through the end of 2024 to expand its activities in South Korea.

In the country's biopharma hub Songdo in Incheon, Sartorius plans to launch cell culture media production and to assemble sterile systems for efficient and flexible manufacturing of biopharmaceuticals, among other operations.

Construction of the company's facilities on the property site covering some 25,000 square meters will include an application center with laboratories as well as several buildings for manufacturing and logistics.

In total, the company will create around 750 new jobs in the facility. In addition, Sartorius' existing activities for service as well as marketing and sales will relocate to the new site under development, which offers space for further extensions.

Sartorius expects the construction work at the site would begin in the coming year, and production operations would start by the end of 2024.

In South Korea, Sartorius has been operating a sales and service office for more than 30 years, which now has more than 180 people.