Chairman Shin Dong-bin of Lotte Group made an inspection tour of the Syracuse Bio Campus in New York, a U.S, production center of Lotte Biologics, on Oct. 5.
It is the first time that Chmn. Shin has toured the plant since 2023 when the group acquired it.
According to Lotte Group, Chmn. Shin was accompanied by Senior Executive Vice President Shin Yoo-yeol, son of Chmn. Shin and head of the Future Growth Office at Lotte Holdings and concurrently chief of the Global Strategy Office at Lotte Biologics, and James Park, president of Lotte Biologics while touring the Syracuse Bio Campus.
Chmn. Shin got a briefing from the business situation of Lotte Biologics and looked at antibody drug Conjugates (ADC) production facilities which were put into operation this year.
Chmn. Shin said, “Lotte Biologics’ Syracuse Bio Campus is expected to lead the growth of the whole of our group beyond the bio industry and I urge you to land additional ADC contract development and manufacturing organization (CDMO) orders with the expanding of ADC production facilities and redouble global competitiveness.”
Lotte Biologics entered the global bio market by acquiring the Syracuse Bio Campus from Bristol Myers Squibb, a global pharmaceutical maker, in 2023.
After that, the company has built up ADC production facilities that allow not only clinical development, but also commercial production by investing $100 million.
After a contract on ADC production was struck with an Asian bio company in April 2025, the Syracuse Bio Campus began the operation of the ADC production facilities.
As the U.S. administration has imposed tariffs against pharmaceutical imports, Lotte Biologics has been intensifying efforts to secure orders from the United States, which are not subject to the tariffs, by capitalizing on the U.S. production facilities.
Lotte Biologics has launched a project to build a first bio campus in Songdo, Incheon, with dedication slated for 2027.
Lotte Group Focuses on Exploring Global Bio Market
Lotte Group has been intensifying efforts to explore the global bio market in Korea and Japan.
This is Lotte Group Chmn. Shin’s strategy to overcome the saturated growth of the group’s mainstay businesses, such as distribution, chemical and construction.
Lotte Group has been focusing on making inroads into the global pharmaceutical CDMO market by investing in promising companies through a Japanese corporate entity and securing production facilities in the United States through a Korean corporate entity.
Investment bank sources said on Oct. 17 that Japan Lotte Holdings invested in more than five bio companies through the venture capital it contributed in August 2024, confirming that the group is building a bio value chain beyond the distribution sector.
Starting with investing in Ubix Therapeutics, a U.S.-based immunotherapy developer in December 2024, Lotte has diversified its business portfolio by making a series of investments into LinqMed Series B Funding in April 2025, Elixiron Immunotherapeutics Series B Funding in June 2025, Pigyologas Technologies Series A Funding in June 2025 and U.S. Cartography Biosciences Series B Funding recently.
The exact investment amount has not been disclosed, but most investment targets are antibody-based therapeutics and Immuno-based therapeutics new drug developers.
Japan Lotte Holdings’ HB-CVC is a bio venture company launched with capital amounting to 3 billion yen (29.8 billion won) last year.
The venture company is focusing on exploring investment opportunities to have synergetic effects with Lotte Biologics.
Japan has almost no restrictions on corporate venture company (CVC) investments.
Baek Hyun-joon, non-executive director with Lotte Biologics, oversees the CVC investments. He serves as a bridge to connect investments in Korea and Japan.
A bio expert in the investment banking industry said Lott Group built a two-track strategy in which HB-CVC has been investing in bio companies in early stages and Lotte Biologics is charged with production infrastructure.
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