Production Base in China
Hanmi Science (Chairman Lim Jong-yoon), the holding company of South Korean pharmaceutical company Hanmi Pharmaceutical, officially announced on March 29 that it has purchased roughly 200,000 square meters of land in the Yantai Economic and Technological Development Zone in China for about US$10 million (11.66 billion won) to construct the group’s new production base facilities for the Chinese and global markets.
Hanmi Group plans to incrementally inject US$200 million (233.1 billion won) until 2026 into building new facilities for the production of chemical and biologic drugs and health supplements, as well as a research and development center for new drug development on the site.
“This investment should be perceived as a strategic choice for Hanmi Group to become a more globalized pharmaceutical company,” said a Hanmi Science official.
Meanwhile, Hanmi Group and the Yantai Economic and Technological Development Area Management Committee (President Wang Yueyi) held the joining ceremony for the investment project at Sheraton Hotel in Yantai, Chinna, on March 29.