Lotte chairman inspects biopharma plant, eyes 'new leap'

Lotte Group Chairman Shin Dong-bin recently visited the Songdo campus of Lotte Biologics, personally inspecting the first plant and reviewing preparations for its global contract development and manufacturing organization (CDMO) business. This hands-on approach underscores Shin's dedication to nurturing the bio-business, which the group is actively cultivating as a new engine for growth.

The chairman's visit to the Songdo 1 plant in Incheon on July 3rd involved a thorough inspection of key facilities. During his visit, he also took the opportunity to encourage the employees working at the site. This move signifies Shin Dong-bin's commitment to leading the group's strategic expansion into the biotechnology sector.

Lotte Biologics aims to establish itself as a major player in the global CDMO market. The Songdo campus is central to this ambition, equipped with advanced facilities designed to meet international standards for pharmaceutical manufacturing. Chairman Shin's direct involvement signals the strategic importance Lotte places on this venture, viewing it as crucial for the group's future development and competitiveness in the rapidly evolving life sciences industry.