LOTTE BIOLOGICS Signs MOU for the Development of Industry-Academic Cooperation Program

with Ministry of Employment and Labor-Korea Polytechnic

■ 9 Other Bio Companies and Institutes Participating in Addition to Ministry of Employment and Labor and Korea Polytechnic 
■ Laying the Foundation for a Win-Win Solution to Address the Talent Shortage in the Bio Industry

LOTTE BIOLOGICS (CEO Richard Lee) announced on October 31st that it had signed a Memorandum of Understanding (MOU) with the Ministry of Employment and Labor and Korea Polytechnic for the development of an industry-academic cooperation program. This is the first time that LOTTE BIOLOGICS has entered into an agreement with an educational institution for the training of bio-specialized personnel.

The signing ceremony took place at the Jungsu Campus of Korea Polytechnic, located in Yongsan-gu, Seoul. The ceremony was attended by Minister Lee Jung Sik of the Ministry of Employment and Labor, Acting Chairman Lim Chun-Geon of Korea Polytechnic, and representatives from 9 other bio companies and organizations including LOTTE BIOLOGICS, Protium Science, K Cell, Y-Biologics, Curocell, Prestige Biologics, Enzen Bio, ToolGen, and the Korea Biotechnology Industry Organization (KoreaBIO).

LOTTE BIOLOGICS and other bio companies, along with Korea Polytechnic, plan to work on fostering bio talent by signing an agreement on cooperation across a range of areas such as: ▲Joint development of customized training courses for bio companies, ▲Providing education, training, and employment opportunities for the middle-aged and women with career interruptions, and ▲Providing educational programs to enhance job skills for current employees in bio companies. Through this, Korea Polytechnic will secure job opportunities in the bio industry for its graduates, and the companies will cultivate outstanding production personnel, laying the foundation for a win-win solution to address the talent shortage in the bio industry.

Additionally, as part of this agreement, LOTTE BIOLOGICS plans to develop a 'Bio Talent Curriculum' where it will select outstanding talent from Korea Polytechnic to provide tailored on-site education and practical training opportunities, and subsequently hire them as production personnel. The curriculum for this program will include essential bio subjects necessary for theory and practical training such as production, QC/QA, GMP, and Validation. A comprehensive English intensive program spanning the entire semester will also be introduced. Both institutions aim to continuously adjust the details of the educational program and plan to launch it starting from 2024.

Mr. Lee of LOTTE BIOLOGICS stated, "This agreement aims not only to contribute to the advancement of the bio industry but also to help to promote job creation and improve employment stability." He added, "This MOU will be an important opportunity to narrow the gap between the educational institutes that fosters talent and the companies that hire them."

Minister Lee of the Ministry of Employment and Labor said, "It is important to create high-quality jobs in new growth industries like the bio industry, which are favored by young people, and to foster talent with the capabilities required in the field." He emphasized the importance of nurturing talent who will be responsible for the future of our country in advanced fields like biotechnology. He stated, "We will provide multi-faceted support to create a virtuous cycle where young people can find better job opportunities and companies can hire outstanding talent to improve productivity, thus helping make Korea a biotechnology powerhouse."

Acting Chairman Lim Chun-Geon of Korea Polytechnic stated, "We will foster talent that meets industry demand through rapid responses such as expanding the creation and upgrading of departments and enhancing on-site training infrastructure, as well as expanding training opportunities for the younger generation." He added, "We will also continue to spread cooperative models that can produce synergistic effects with bio companies."