Samsung Biologics will invest some two trillion won to build factory Number Five with a 180-thousand-liter production capacity.

The company's CEO, John Rim, said its board approved the plan during a meeting on Friday.

Once the new plant begins operation, Samsung Biologics’s facilities will boast the largest combined production capacity among global biomedicine consignment manufacturers at 784-thousand liters.

The project will break ground before June of this year for completion by September 2025. The fifth factory will be built on a 96-thousand-square-meter site in Songdo, where the company headquarters are located.

The firm decided a new plant was necessary in line with the growing bio sector and expected demand. Last year, Samsung Biologics surpassed three trillion won in sales, with Samsung Group chief Lee Jae Yong announcing in 2022 that the group aims to foster biomedicine as another future growth engine.

The CEO said that outsourcing of biomedical products has increased since the pandemic and preemptive investment is vital to meet advances in the global market.