Chong Kun Dang is considering establishing a research institute and biopharmaceutical production plant in the Baegot district of Siheung City, Gyeonggi Province. Recently, Siheung City held a public offering for pharmaceutical and bio companies to move into the Baegot district bio complex, and Chong Kun Dang was selected as the preferred negotiation partner for its "State-of-the-Art Biopharmaceutical Complex R&D Complex Development Plan."

On the 27th, Siheung City and Chong Kun Dang launched a negotiating team to create a complex R&D complex, attended by Kim Young-joo, CEO of Chong Kun Dang, and Lim Byeong-taek, Mayor of Siheung City. The specific investment size and timing will be determined through future negotiations.

If the investment is finalized, Chong Kun Dang will establish a research institute and plant in the Baegot district to handle the research and production of biopharmaceuticals such as ADCs (antibody-drug conjugates). This demonstrates Chong Kun Dang's drive to accelerate biopharmaceutical R&D and production.

Chong Kun Dang recently signed a technology export agreement with Novartis for the new drug candidate 'CKD-510' and is working on the development of various bio-new drugs such as the bispecific antibody anticancer bio-new drug 'CKD-702'. The investment in the Baegot district is interpreted as a strategic decision to strengthen these bio-new drug development and production capabilities.

The pharmaceutical industry expects Chong Kun Dang to invest 700-800 billion won by 2030, which is expected to be Chong Kun Dang's largest facility investment.

Meanwhile, Siheung City is creating an R&D, education, and medical complex in the Baegot district. With an investment of 1.6681 trillion won in the 880,000㎡ Baegot district, the plan is to build a fourth industrial cluster such as drones, bio, and medical care. If Chong Kun Dang's investment is confirmed, the Baegot district is expected to emerge as a core hub of the domestic pharmaceutical and bio industry.