JEOLLABUK-DO < invest Korea

According to Yonhap News,

Poonglim Pharmatech, a manufacturer of LDS Syringe that is called 'K Syringe', is to build its fourth plant in Saemangeum Industrial Complex.

A LDS syringe is a type of special syringe designed to limit dead space that exists between the syringe hub and needle to minimize waste vaccines.

Poonglim Pharmatech signed an investment agreement for construction of 'medicine and medical device manufacturing facility' with Jeollabuk-do, Gunsan-si, Saemangeum Development and Investment Agency, and the Korea Rural Community Corporation on February 26.

The company plans to invest KRW 19.5 billion in total on a site of 13,200 square meters within Saemangeum Industrial Complex by 2023, producing 'finished medicine and diagnostic medical device', hiring about 70 people.

Poonglim Pharmatech, founded in Gunsan in 1999, is a supplier of medical devices including syringe to about 70 domestic pharmaceutical companies and hospitals. In particular, it is a specialized medical device company that exports syringes for COVID-19 vaccine to the US, Europe, and Asian countries.

ichong@yna.co.kr

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Source: Yonhap News (January 26, 2022)