- 100 billion KRW of joint investment for expansion of the cell culture-based influenza vaccine manufacturing process

- SK bioscience plans to strengthen domestic market leadership and advance to global markets through expansion of vaccine production

- The agreement is an exemplary case of the public-private cooperation for revitalization of the local economy and corporate growth.

Jaeyong Ahn(middle), CEO of SK bioscience, Cheolwoo Lee(left), Governor of Gyeongbuk Province and Youngse Kwon, Mayor of Andong(right) sign an MOU to for expansion of ´L HOUSE.´

SK bioscience announced that the comapany has signed an Memorandum of Understanding of investment for the expansion of ´L HOUSE,´ the largest vaccine manufacturing facility in Republic of Korea with Cheolwoo Lee, governor of Gyeongbuk Province, and Youngse Kwon, mayor of Andong.

Through this MOU, SK bioscience will invest about 100 billion KRW to expand its cell culture-based influenza vaccine production facility together with Gyeongbuk Province and Andong City from the second half of this year.

The expansion of the manufacturing facilities will take place at a 62,626㎡ site within the ´L HOUSE´ area. Once the establishment is completed, SK bioscience’s drug substance volume of influenza vaccine will be doubled.

SK bioscience plans to strengthen its leading position in the domestic vaccine market based on the increased vaccine production volume and advance into the global market.

The Korea’s only cell culture-based influenza vaccine developed by SK bioscience, ´SKYCellflu®´, has surpassed the cumulative administration of 14 million doses in the three years since launch and is being prepared for international bidding through WHO PQ (Pre-Qualification) certification.

The expansion of production facilities is expected to contribute to the revitalization of the local economy.

L HOUSE has been hiring more than 90% of employees locally since its completion in December 2012. The expansion is expected to create additional job positions in Andong area. SK bioscience plans to continue its leading role in vaccine production as a key player in the nation´s largest vaccine cluster, being supported by Gyeongbuk Province and Andong City.

Cheolwoo Lee, the Governor of Gyeongbuk Province, said, “We will focus on attracting companies that lead the Fourth Industrial Revolution. We will always support SK bioscience to increase the value of the company as it grows into a global leader.”
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Youngse Kwon said, Mayor of Andong City Mayor, “This MOU is an exemplary case in which members of the private-public sectors cooperated to revitalize the local economy. Andong will be the hub of creating future leading businesses by attracting vaccine-related companies including SK bioscience.”

Jaeyong Ahn, CEO of SK bioscience said, “To become a global vaccine leader, the cooperation of local governments and government agencies is crucial. Through the L HOUSE expansion, we will generate mutual growth of the company and the region.”