What is the importance of contract manufacturing activity within Handok’s business portfolio and strategy?
Though contract manufacturing is not a fundamental part of Handok’s operations, it is very important for us to maintain our factory with high production volumes in order to achieve efficiency. Actually, thanks to Handok’s visionary decision to build our new factory in Eumseong up to international GMP standards already in early 1990’s, the company has succeeded in establishing several toll manufacturing agreements. It took many years of hard work to achieve this global standard in manufacturing, because not only did we have to change the hardware but also the software. We had to convince all of our people that they needed to change their mindset, and this was particularly challenging since the GMP standards themselves were progressing during that time, so we had to take not just one but two big steps at once. Since it was originally conceived to be a tactical regional plant to supply the Asian market for HMR, we continue exporting small quantities to the Philippines, Thailand and a few
