SK Plasma said on Wednesday that it received final approval from the Ministry of Health in Indonesia for the construction of a plasma fractionation plant to expand its global business.

The company’s export of its plant technology to Indonesia is a result of collaboration between the Ministry of Health and Welfare of Korea and the Indonesian Embassy since 2019, it said.

Based on SK Plasma's blood product manufacturing, equipment technology, and know-how, the company has been actively promoting the export of plant technology to countries that have not secured blood product manufacturing infrastructure. Consequently, the export volume of the plant is valued at approximately $250 million.

Additionally, the plant will be able to process 1 million liters of raw material plasma annually, which will enable Indonesia’s self-sufficiency in blood products, and expand its market to neighboring countries, said a company official.

Blood products are manufactured from albumin and immunoglobulin by fractionating and refining components of blood. It is commonly used in essential treatments to help manage excessive bleeding from shock, congenital immunodeficiency syndrome, and hemophilia.

In particular, in national disasters such as the recent Ukrainian war and the earthquake in Turkey and Syria, blood products are widely needed, and are designated as national essential drugs.

SK Plasma plans to establish a joint venture in the region to be in charge of business rights, production, sales, and factory operation. After localization, it is expected that exclusive supply will be possible according to Indonesian-related regulations.

"Acknowledging SK Plasma’s successful bids for blood product projects in Brazil, NATO, Singapore, and others, the Indonesian government is pleased to partner with SK Plasma to actively transfer technology,” an Indonesian government official said. “We plan to supply WHO essential medicines to the nation by locally producing all currently imported blood products.”

SK Plasma CEO Kim Seung-ju said, " We will continue to promote ESG-based strategies and business feasibility by transferring technology to countries that do not have blood products and manufacturing infrastructure with an eco-friendly design.”