The Gyeonggi Provincial delegation headed by Governor Kim Moon-soo signed an MOU with Sartorius for a USD 20 million investment in a 2,526㎡ R&D facility in Pangyo, Gyeonggi Province over the next five years in a ceremony held at the Steinberger Grand Hotel in Lepizig, Germany around noon of June 27, with Joerg Lindenblatt, VP for Asia of Sartorius Stedim Biotech, and Satorius Korea Biotech CEO Kim Deok-sang attending.

A world-renowned bio pharmaceutical business with 140 years’ history, Satorius established Satorius Korea Biotech in the Pangyo Global R&D Center in 2005. The local corporation in Korea has grown rapidly in terms of sales from KRW 300 million in 2005 to KRW 26 billion by 2012. It has also contributed to the development of the bio pharmaceutical industry of Korea by signing an agreement for cooperation with meister high schools in training talented young people.

Commenting on the investment deal made with Satorius, Governor Kim Moon-soo believes Satorius made a wise business decision. “At the Pangyo Global R&D Center, it can enjoy lots of synergistic effects since it can collaborate with the country’s top research institutions and global businesses such GE. We expect this decision to put Satorius in a much more advantageous position as it establishes stronger presence in Asia-Pacific. We will do what we can to help the company carry out operations more successfully in this country,” he vowed.

A related Gyeonggi Provincial official believes that the investment deal made with Satorius this time will help the country enhance its international competitiveness in the bio pharmaceutical sector, which will serve as future growth engine, and wield positive effects even in the invigoration of the raw material industry.