SK plasma to invest $8.7 mil. in Korean site to stabilize blood drug supply

SK plasma has signed an agreement to expand its blood product manufacturing site in southeastern Korea, part of a broader effort to stabilize supply chains and scale up production ahead of a new plant opening overseas.

Under a memorandum of understanding signed Monday, the company said it would invest about 12 billion won, or $8.7 million, through 2027 to build cold and frozen storage units near its existing plasma fractionation plant in Andong, a city in North Gyeongsang Province. 

The facility produces therapies such as albumin and immunoglobulin for both domestic and export markets.

“With this expansion, we’ll be better equipped to respond flexibly to changing market demand for blood products,” said Kim Seung-joo, chief executive of SK plasma.

The new project, which spans nearly 8,000 square meters, will also include warehouse and office space meant to improve operational efficiency. 

While the company has not said how many new employees it plans to hire, local officials pointed to expected job creation -- particularly for younger workers -- as one of the agreement’s key benefits.

“This new investment by SK plasma is a turning point for enhancing the competitiveness of our regional biotech sector,” Andong’s mayor, Kwon Gi-chang, said in a statement.

Founded in 2015, SK plasma began commercial operations at its Andong plant in 2018. The site can process up to 600,000 liters of plasma annually.

The company is also building a new plasma fractionation facility in Karawang, Indonesia, scheduled to begin operations in late 2026. 

In the meantime, plasma collected in Indonesia will be shipped to Korea and processed at the Andong site to prevent supply disruptions.