South Korean biotech firm SK Bioscience said Friday it hosted a topping-out ceremony at the construction site of its Global Research and Process Development Center in Songdo, Incheon, Monday.

In 2021, SK Bioscience signed a land contract with the Incheon Free Economic Zone authority to acquire part of the Incheon Technopark Expansion Complex. The company has invested 325.7 billion won ($244 million) in building the Global R&PD Center. With the project, SK plans to relocate its headquarters and research institute from Pangyo, Gyeonggi Province to Incheon's Songdo, a hub for biotech companies.

“I hope this shift will give us momentum to become a leading global vaccine and biotech company.” said SK Bioscience' CEO Ahn Jae-yong.

The cutting-edge center will feature the cGMP-level pilot plant for research and development of the cell and gene therapy products, mRNA and viral vectors. It is expected to enhance the company's business operation and proactive development of vaccines against infectious diseases.

SK will also focus on the "glocalization project," which aims to partner with countries with high demand for vaccines but limited human and material resources. Using its advanced R&D and production capabilities, the center will play a role in expanding industrial cooperation and nurturing bio talents overseas.

SK Bioscience will intensify its global market penetration efforts by partnering with its Andong vaccine manufacturing facility and IDT Biologika, the German CDMO-specializing company with which SK Bioscience signed an acquisition agreement in June.