HLB Pharmaceutical Breaks Ground on New Plant in Hyangnam, Hwaseong, Gyeonggi, to Expand Drug Production Capacity

HLB Pharmaceutical held a groundbreaking ceremony for its new plant in Hyangnam, Hwaseong, Gyeonggi Province.

At the groundbreaking ceremony for HLB Pharmaceutical's Hyangnam plant in Hwaseong, Gyeonggi Province, on the 12th, HLB Group Vice Chairman Mun Jeonghwan (from left), HLB Group Vice Chairman Lim Changyun, HLB Group Chairman Jin Yanggon, HLB Pharmaceutical CEO Park Jaehyung, and National New Drug Development Project Group Director Park Youngmin take part in the ceremonial groundbreaking. HLB Group

In his congratulatory remarks on Nov. 12, Jin Yanggon, chairman of the HLB Group Board of Directors, said, "Over the past 19 years, HLB has succeeded in developing global anticancer drugs through continuous challenges and by overcoming crises. I hope the new Hyangnam plant will become a key production hub that reliably supplies high-quality medicines around the world and realizes HLB's corporate mission of making people's lives better."

The new Hyangnam plant is a pharmaceutical manufacturing facility being built with an investment of 55 billion won. It will occupy a site of approximately 31,244 square meters, with a total floor area of about 11,931 square meters. The facility will include a Good Manufacturing Practice (GMP)-compliant plant building, spanning one basement level and three above-ground floors, as well as auxiliary facilities. The plant will be equipped with automated production systems and a manufacturing environment that meets global GMP standards. HLB Pharmaceutical plans to upgrade its production processes and quality management systems to improve production efficiency and strengthen its quality competitiveness.

The plant is designed to have an annual production capacity of approximately 700 million tablets, about three times the Namyangju plant's current annual capacity of approximately 250 million tablets. HLB Pharmaceutical plans to complete construction with the goal of obtaining approval for use of the building by the end of 2027. After completing relevant procedures, including GMP certification, the company will gradually transfer the manufacturing functions of the Namyangju plant starting in 2029 and begin full-scale production.

Using the new plant as a springboard, HLB Pharmaceutical will step up its mid- to long-term growth strategy to reach 1 trillion won in revenue by 2036 and become one of Korea's top 10 pharmaceutical companies. The company plans to pursue, in stages, the expansion of its prescription drug business, the development of improved drugs, the introduction of new products, and strategic mergers and acquisitions (M&A), supported by expanded production capacity and improved profitability.

Park Jaehyung, CEO of HLB Pharmaceutical, said, "The new Hyangnam plant is a key investment to meet rapidly growing demand for medicines and strengthen our manufacturing competitiveness. On the basis of a stable production infrastructure, we will expand the production of high-value-added medicines and build a foundation for growth as we work toward reaching 1 trillion won in revenue by 2036 and becoming one of Korea's top 10 pharmaceutical companies."

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