Genetox Inc. Begins Expansion of Hoengseong Plant, Plans Phased Investment of KRW 15 Billion

【Financial News Hoengseong County=Reporter Kim Ki-seop】Genetox Inc., a small and medium-sized biotech company, is expanding its plant at the Ucheon General Industrial Complex in Hoengseong County to strengthen its production base.
According to Hoengseong County on the 4th, a groundbreaking ceremony for the expansion of Genetox Inc.’s Hoengseong plant was held that day at the Ucheon General Industrial Complex in Hoengseong County. About 60 people attended, including Hoengseong County Deputy Governor Choi Tae-young, Hoengseong County Council Chairman Park Seung-nam, and Gangwon State Council Chairman Park Gil-seon.
Genetox Inc. plans to make phased investments totaling KRW 15 billion over the medium to long term, beginning with this expansion. In the first phase, the company will invest approximately KRW 3 billion by 2027 to add production facilities covering 1,831.52 square meters on the site of its existing plant. The company plans to strengthen its production base and respond to demand in the therapeutic botulinum toxin market by expanding its DP Release Center for finished-product manufacturing. The expansion is expected to increase production and supply capacity while further enhancing the company’s competitiveness in domestic and overseas markets.
Genetox Inc. was established in 2018 and relocated its headquarters and plant to the Ucheon General Industrial Complex in Hoengseong County in 2021. The company has continued to grow based on its proprietary technology and has gained recognition for its competitiveness in global markets, receiving an Excellence Award at the 2024 Gangwon Export Award and achieving the $10 million Export Tower.
Hoengseong County expects the plant expansion to create quality jobs by recruiting talented biotech professionals and generate positive effects for the regional economy.

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