Lotte Group chief makes first inspection tour of U.S. bio campus since 2023 acquisition

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Lotte Group chief makes first inspection tour of U.S. bio campus since 2023 acquisition

Published: 09 Oct. 2025, 14:51 Updated: 09 Oct. 2025, 19:23

Audio report: written by reporters, read by AI

Lotte Group Chairman Shin Dong-bin inspects the ADC production facility at Lotte Biologics’ Syracuse bio campus in New York on Oct. 5. [LOTTE GROUP]

Lotte Group Chairman Shin Dong-bin visited the group’s U.S. biopharmaceutical hub in Syracuse, New York, on Sunday, marking his first inspection of the site since its acquisition in 2023.

Shin toured the Lotte Biologics campus with his son, Shin Yoo-yeol, vice president of Lotte Corporation and head of global strategy at Lotte Biologics, as well as Lotte Biologics CEO James Park, according to the Lotte Group.

The chairman reviewed Lotte Biologics' operations and inspected the antibody-drug conjugate (ADC) production facility, which began operating earlier this year.

“I expect the Syracuse campus to drive growth not only in our bio business but across the group,” Chairman Shin said. “Please focus on securing new ADC contract manufacturing orders in line with our facility expansion, and continue efforts to strengthen global competitiveness.”

Lotte Biologics entered the biopharmaceutical sector in 2023 after acquiring the plant from U.S.-based Bristol Myers Squibb. Since then, it has invested approximately $100 million to build out ADC manufacturing capabilities that cover both clinical and commercial-scale production.

The company signed its first ADC production contract in April with a biopharmaceutical firm based in Asia and began full-scale operations at the Syracuse site.

As the U.S. government moves toward imposing tariffs on imported pharmaceuticals, Lotte Biologics is using its local manufacturing base to strengthen its position in the U.S. market and mitigate trade risks.

The company is also constructing a new bio campus in Incheon, with its first plant scheduled to begin operations in 2027.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM KYUNG-MI [[email protected]]