(Seoul=Yonhap Infomax) Seul Gi Yoon = The Export-Import Bank of Korea (Korea Eximbank) announced on the 25th that it will provide 350 billion won ($260 million) in financing to support Celltrion Inc.’s acquisition of a US manufacturing facility from Eli Lilly and Company.


With this financial backing, Celltrion, a leading South Korean biopharmaceutical company, will be able to establish an integrated production and sales network in the United States, the world’s largest pharmaceutical market.


The bio industry is increasingly recognized as a core element of national security and a key driver of global economic growth.


The South Korean government is also implementing various policies to foster the domestic bio sector, known as “K-Bio.”


Korea Eximbank is actively supporting bio companies through initiatives such as the “Advanced Strategic Industry Preferential Support Program,” aiming to enhance the global competitiveness of K-Bio.


An official from Korea Eximbank stated, “Through this acquisition, Celltrion will be able to build a stable supply chain and expand its local sales base, mitigating risks such as trade disputes and logistics disruptions.” The official added, “As a leading player in K-Bio, Celltrion is also expected to contribute to the development of the related industrial ecosystem by promoting joint growth between anchor biotechs and innovative bio ventures.”


sgyoon@yna.co.kr


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