[Suwan News = Reporter Kim Dong-ju] Gangneung City and Gangwon Special Self-Governing Province signed an investment agreement with the biopharmaceutical company Pharma Research Co., Ltd. in Chuncheon on the 10th to establish a fifth factory in Gangneung.
The signing ceremony was attended by Gangneung Mayor Kim Hong-gyu, Provincial Governor Kim Jin-tae, and Chairman Jeong Sang-su, among others.
Pharma Research has been expanding its portfolio of convergent products across multiple fields—including pharmaceuticals, aesthetic medical devices, and dermocosmetics—using its patented regenerative medicine technology, and is a high-growth company recording an average annual revenue growth rate of 30% led by its Rejuran brand.
Furthermore, the company has been steadily accelerating its expansion into overseas markets—including achieving $50 million in exports in 2024—and this new investment is expected to strengthen its global competitiveness and provide an opportunity to establish itself as a world-class biopharmaceutical company.
Through this investment agreement, Pharmaresearch will invest a total of more than 100 billion won to construct a factory facility with a total floor area of 30,756 square meters (9,300 pyeong) with a total floor area of 25,073.3 square meters (7,580 pyeong), with completion targeted for 2027. The company also plans to hire at least 50 new employees.
Mayor Kim said, "I would like to express my gratitude to Pharma Research for its decision to invest in a new factory, and I will spare no effort in providing administrative support so that the company can continue to grow and emerge as a world-class biopharmaceutical company representing Gangneung."
Kim Dong-ju, Reporter
