Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Lotte Biologics unveiled a landmark $3 billion partnership with Incheon's city government, Lotte Corporation, and Incheon Free Economic Zone (IFEZ) to establish major biotech production plants in Songdo. This monumental move accelerates the biotech giant's ambitious aim of a combined production capacity of 360,000 liters by 2030.
Lotte Biologics said on Tuesday, June 20, that the MOU is its first step into building the facilities in the region. As per Korea Joongang Daily, the other parties in the project are Lotte Corporation and the Incheon Free Economic Zone (IFEZ).
The contract signing ceremony was held at the IFEZ HQ in Songdo, and executives of the companies were present, including Lotte Biologics’ CEO, Richard Lee; IFEZ’s commissioner, Kim Jin Young; Lotte Corp. president, Lee Hun Ki; and Mayor of Incheon Metropolitan City, Yoo Jeong Bok.
The construction of the production facilities is part of the biotech firm’s plan to erect three new factories that will have a combined production facility of 360,000 liters by the year 2030. The plan was first unveiled in January this year.
The industrial complex will also be a place where the start-up, Bio-Venture Initiative, is expected to open a plant and facilitate possible technological cooperation. Lotte Biologics is planning a groundbreaking event for the construction, and this may happen soon.
This agreement highlights the enthusiastic response from Incheon Metropolitan City and Incheon Free Economic Zone regarding LOTTE BIOLOGICS’ intention to establish a major presence in Songdo,” Lotte Biologic’s chief executive officer said in a press release. “With the goal of commencing construction on the Mega Plant within the year, LOTTE BIOLOGICS will actively cooperate with Incheon Metropolitan City and Incheon Free Economic Zone to swiftly facilitate a land purchase agreement, with the enthusiastic support of LOTTE Corporation.”
Photo by: Lotte Biologics Newsroom
