[Bio Story] Alteogen Leaps onto the Global Stage on the Strength of Its Region

Interview with Taeyeon Jeon, CEO of Alteogen ③


Alteogen, Born in a Small Daejeon Laboratory,

Takes Root as an Anchor Company in the Daejeon Bio Ecosystem

One of the key bases of K-Bio, which is transforming the global pharmaceutical market worth tens of trillions of won, is not located in Seoul, Incheon, or Pangyo, but in Yuseong-gu, Daejeon. This is the story of Alteogen, which has been rewriting the history of the Korean bio industry by achieving multi-trillion-won technology export deals with global pharmaceutical companies one after another.

In the domestic industrial ecosystem, where the concentration in the Seoul metropolitan area is intensifying, Alteogen is recognized as a successful model that proves even a regionally based company can achieve world-class innovation.

The driving force behind Alteogen's leap to become a global biopharma leader is its 'local talent.' On April 23, at Alteogen's headquarters in Yuseong-gu, Daejeon, CEO Taeyeon Jeon explained to The Asia Business Daily the contributions of the employees who have dedicated themselves to bringing the company to where it is today, highlighting the crucial role played by researchers from local universities.

Taeyeon Jeon, CEO of Alteogen, is being interviewed by The Asia Business Daily at Alteogen headquarters in Yuseong-gu, Daejeon. He evaluated Alteogen's technological capabilities as the achievements of talents from the Daejeon and Chungcheong regions. Photo by Donghoon Jung

CEO Jeon said, "Most of the employees who completed our world-class subcutaneous (SC) formulation conversion platform 'Hybrozyme' and established the foundation for overwhelming productivity are graduates of universities in the Daejeon and Chungcheong regions," adding, "It is thanks to their sense of ownership and tireless research efforts day and night that Alteogen exists today as a company sought after by global pharmaceutical firms." This demonstrates that genuine passion, dedication, and capability in technology—rather than the brand name of the Seoul metropolitan area—are the true sources of global competitiveness.

This regional grounding of Alteogen goes beyond a one-time achievement and has led the company to become a strong anchor enterprise within the Daejeon bio ecosystem. Since its founding in the Daedeok Innopolis in 2008, Alteogen has never left Daejeon, growing together with the local community.

As the company has grown, there have been temptations to relocate, but Alteogen has instead chosen to expand its investments in the Daejeon region. Currently, the company is pursuing the construction of a new headquarters in Daejeon to bring together its dispersed research and work personnel. This creates a virtuous cycle of nurturing local talent, creating quality jobs, and making large-scale facility investments.

The positive impact of Alteogen on the Daejeon regional economy is also evident in the numbers. Based on steady technology transfers and royalty income, the company has recorded large-scale operating profits and has grown into a key enterprise paying the highest level of corporate tax in Daejeon. Alteogen's journey holds significant meaning not only as the growth of a company but also in terms of national balanced development and fostering regional clusters.

CEO Jeon said, "Alteogen was born in Daejeon and has grown together with local talent through hard work. Going forward, we will expand our own production facilities and new headquarters in Daejeon and establish ourselves as a truly global biopharma company that grows together with the local community." Starting from a small laboratory in Daejeon, Alteogen's journey is now reshaping the global landscape of the bio industry beyond Korea.

This content was produced with the assistance of AI translation services.