Chong Kun Dang to Foster Next-Generation Biotech... Building a 392.5 Billion Won ‘Complex Research Complex’ in Baegot, Siheung
Large-scale capital investment amounting to 39% of equity... Official announcement made just one day after the previous day’s “undecided clarification”
Establishment of State-of-the-Art R&D and Demonstration Centers for Biopharmaceuticals... ‘Securing Future Growth Engines’
Aiming for completion in August 2028... Accelerating the establishment of a global new drug development hub on a 79,790-square-meter site
[Edaily Reporter Yoo Jin-hee] #Chong Kun Dang, a leading traditional pharmaceutical company, is investing heavily to strengthen its capabilities in biopharmaceuticals, a key growth driver for the future. The company plans to establish a state-of-the-art bio-complex research complex in the Baegot District of Siheung, Gyeonggi Province, to serve as a base for future new drug development.
Chong Kun Dang announced on the 11th through a major management affairs report that it has decided to invest a total of 392.5 billion won in new facilities to build the Baegot Bio-Complex Research Complex.
(Photo: Chong Kun Dang)
This investment amount represents a massive sum, equivalent to 39.0% of Chong Kun Dang’s equity (1.0635 trillion won) as of the end of last year (December 31, 2025), based on K-IFRS consolidated financial statements. The investment will begin today (the 11th), the date of the board resolution, and will continue for approximately two years and two months until the expected completion date of August 31, 2028.
This announcement is the final confirmation of the “Clarification Regarding Rumors or Reports (Unconfirmed)” disclosed by Chong Kun Dang the previous day (the 10th). Following the previously signed land purchase agreement (approximately 94.8 billion won), the Baegot Bio Complex project has now entered full swing with the confirmation of construction costs for the core facility.
Chong Kun Dang’s purpose in investing such a large sum is clear: to simultaneously establish a “Research Center” to maximize the efficiency of R&D for next-generation biopharmaceuticals and a “Demonstration Center” to verify the commercial viability of developed technologies.
The target site is the “Baegot Research Site 3-1” area located at 302 Baegot-dong, covering an area of 79,790.8 square meters. Chong Kun Dang was selected as the preferred bidder in the public tender for this site and has been preparing to develop a large-scale bio complex.
A Chong Kun Dang official explained, “This investment decision is intended to begin full-scale construction of new facilities for the Bio-Complex Research Complex, which represents a future growth engine,” adding, “The aforementioned investment amount and timeline are subject to some variation depending on future changes in the business environment or internal schedules.”
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