Handok and Genexine held a groundbreaking ceremony for joint construction of the Magok R&D Center in the Magok Area, Gangseo-gu, Seoul, on October 30.

The two companies have agreed to set up the center together to accelerate and facilitate their collaboration over the research and development of new drugs. The center is to have a total floor area of 60,912 square meters upon completion and will include the Handok R&D Center, the new headquarters and R&D center for Genexine, and multiple common amenities. Construction is to start in November 2019 and be completed by November 2021.

The Handok R&D Center will consist of eight floors above ground and three below and have a total floor area of 21,837 square meters. Once completed, the Pharmaceutical Research Department and the New Drug and Bio Research Center will be merged and relocated together to Magok. Genexine’s new headquarters and R&D Center will consist of nine floors above ground and three below over a total floor area of 39,075 square meters. Six of the floors will belong exclusively to Genexine (except for the parking lot and other common amenities), while two of the remaining floors will form the headquarters for Progen, an affiliate of Genexine. Genexine’s entire organization, including its research department, will relocate to Magok.

The Magok R&D Center is designed to maximize free communication and creative brainstorming among researchers working on new drugs. The shared spaces – the lobby, cafeteria, conference room and courtyard on the ground floor – will be open and airy. The testing labs, open labs and open atrium will further inspire creativity. The building will also feature a broad array of amenities for employee welfare, including a gym, a lounge, and a daycare center.